Joe Biden promises $ 700 billion to revive the country

By promising $ 700 billion to revive the American economy, Joe Biden presented an ambitious plan to revive American production on Thursday after the coronavirus crisis, which defies the economic program of Donald Trump, his opponent in the presidential election of November 3 . The former US vice president, leading in the national polls, wanted to mark a big blow to relaunch his campaign disrupted for more than three months by the epidemic in a sector, the economy, where he is lagging behind to the Republican billionaire.

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His plan, dubbed "Build Back Better " , is "bold, practical and focused on building an economy of the future" which will be "made in America, entirely in America," he said afterwards. a visit to a factory in Dunmore, a small town in Pennsylvania where his father comes from. This key northeastern state is part of the Rust Belt, the regions hit by the deindustrialization and unemployment that were offered to Donald Trump in 2016. This program plans to find the job cuts by the Covid-19 crisis, which decimated the American economy, which had 18 million unemployed at the end of June, and to create more than five million additional jobs thanks to massive public investments over four years.

The Chinese are spending billions of dollars trying to appropriate the technology of the future, we sit idly by.

Some $ 400 billion will be allocated "to buy products and equipment that our country needs to modernize infrastructure, replenish our stocks and improve our security," he said. Another 300 billion will go to Research and Development (R&D), as well as technological innovations such as renewable energy and electric vehicles. "The Chinese are spending billions of dollars trying to appropriate the technology of the future, we sit idly by," he said. The government money "will be used to buy American products and support American jobs , " assured Joe Biden, before a sparse audience, physical distancing requires.

Three major crises

He also promised increased independence from foreign suppliers, assistance to small businesses, especially those run by racial minorities, greater freedom for workers to join a union, and an increase in hourly wages for workers on trial. " essentials ” during the pandemic. "It is not enough to greet them, you have to pay them," he said. "I do not accept the defeatist view that the forces of automation and globalization make us unable to keep well-paying jobs in the United States and create more," also said former Barack right-hand man Obama, popular with the working class electorate and who has the support of several union organizations.

To finance his project and "not encourage" companies to relocate, he announced in particular the doubling of the tax on profits of companies abroad.

Relocation, priority to national production, protection against "unfair" business practices for America, Joe Biden has taken up some of the economic arguments on which Donald Trump had built his victory in 2016. But the former real estate tycoon "Is the wrong person to run the country," said Joe Biden, lambasting the government's "incompetence" in the face of three major current crises: the pandemic that killed more than 133,000 people, the economic crisis that followed and the " deep wound of systemic racism ” in the country.

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"A third" of the massive financial aid plan adopted by Congress in the spring "went to big business, these are the big winners," said the Democrat. "It is time to reverse the priorities and help small businesses" , especially those owned by minorities.

The solution to racial inequalities "is not just a question of police reform," he said, echoing the national anger movement against police violence. "We need to have a program to close the wealth gap . "

Donald Trump's campaign team denounced the Biden plan, saying it would "reverse all the gains we have generated together and plunge us into an economic disaster . "

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