Biden will contrast his economic initiatives with Republican plans

President Joe Biden on Thursday intends to compare his economic development program with the Republicans’ plans. The goal of his speech is to show voters that Democrats are better prepared than Republicans to deal with high inflation and economic growth in the country.

On Oct. 27, the president visits Syracuse, N.Y., where Micron Technology plans to invest up to $100 billion in computer chip manufacturing. This is part of a tens of billions in new venture funding. The appropriation was announced after Biden signed legislation in August subsidizing the industry.

In Syracuse, Biden will talk about ongoing efforts to rebuild the American middle class and bring back manufacturing jobs.

The White House chief intends to counter his agenda with Republican plans.

Senior administration officials said Wednesday that the president will explain that the economic plans put forward by Republicans will only benefit the wealthiest Americans and increase inflation.

Earlier this week, Biden warned that implementing the plans would cause “chaos” in the U.S. economy, the largest economy in the world.

Recall that some Republicans have promised to use the debt ceiling to push for cuts in federal spending, extend tax breaks introduced during the Trump presidency, repeal provisions in the recently passed Inflation Reduction Act that lower prescription drug prices, and block Biden’s plan for student debt relief.

“Tomorrow you will hear him (Biden … talk about the major ways in which Republicans in Congress want to set the country back and derail the progress we have made in lowering prescription drug costs, lowering energy costs, reducing the impact of student debt. on middle class families,” said a senior administration official.

Recall that in the 2022 presidential election, nearly 60 percent of voters in Syracuse’s surrounding Onondaga County voted for Biden.