Key to the Climate Response in ‘Bidenomics’

In a speech in Chicago on Wednesday, Joe Biden highlighted federal investment in clean energy and climate technologies as a key part of his economic agenda.

The White House described Biden’s appearance at the former Chicago office as a “keynote speech” outlining his vision to “grow the economy from the middle up, not the top.”

The president and White House officials are calling Biden’s plan “Bidenomics,” which opposes the “trickle-down economics” approach that promotes tax breaks for corporations.

As the 2024 presidential election nears, Biden has used the campaign to accuse former President Donald Trump and other Republicans of pushing for tax cuts for big corporations and the wealthy. wealthy.

“Bidenomics is about strengthening America’s economic security, national security, energy security, and climate security,” Biden said.

The president highlighted investments in the domestic production of semiconductors, batteries, electric vehicles and clean energy as “key sectors for the future”.

“According to economic theory, public investment reduces private investment. Give me a break,” Biden said.

US investments in clean energy are helping to reduce emissions and lower technology costs, Biden said.

“Wind and solar are cheaper than coal and oil,” he said. “No one is going to see a new coal plant being built in America,” he added. “It’s too expensive, it doesn’t work anymore.”

The US is at the center of the solar advertising industry, Biden said: “We will come back and do it again. America will lead again.”

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