Editor’s note: Joe Biden is the president of the United States. The opinions expressed here are his own. Read more reviews on CNN.
In the last almost two years, we have made tremendous progress. My administration, working with Democrats in Congress, is building an economy that grows from the bottom up and from the middle.
The unemployment rate is 3.5%, the lowest in 50 years. We have created 10 million jobs, including nearly 700,000 manufacturing jobs. On my watch, “Made in American” isn’t just a slogan, it’s a reality.
We have more work to do. Inflation, fueled by the pandemic and Russian President Vladimir Putin’s war in Ukraine, is a global challenge. I know a lot of people have jobs and are still struggling to pay for groceries, gas, and rent. That is why I am so determined to lower costs for families.
I am working to reduce the burden on working and middle class people by reducing the costs of everyday things for their families, such as health care premiums, medicine and energy bills. We passed the Inflation Reduction Act without a single Republican vote to lower health care premiums for 13 million Americans and lower prescription drug prices for seniors.
And thanks in part to our actions – including a historic release from the Strategic Petroleum Reserve – gas prices are falling. It’s down $1.20 from its peak this summer and is down another 10 cents this week. This adds up to real savings for families.
But all our progress is at risk. The American people are choosing between two very different visions for our country.
Congressional Republicans are doubling down on the mega, MAGA trickle down economy that benefits the rich and big corporations. They have explained their plan very clearly. Your costs would go up and inflation would worsen.
My administration finally gave Medicare the power to negotiate lower drug prices. We capped out-of-pocket drug costs for seniors at $2,000 and capped seniors’ monthly insulin payments at $35 per month. Big Pharma and lobbyists spent hundreds of millions of dollars to prevent health care savings for Americans. They failed.
Many Republicans in Congress are calling for the rollback of these provisions that reduce prescription drug costs, some of which take effect in January. That means the $2,000 cap on prescription drugs for seniors will go away. The $35-a-month cap on insulin for seniors would disappear. For millions of Americans, the average savings in health care premiums of $800 a year would disappear. Republicans would increase those day-to-day costs.
Democrats are making sure the biggest corporations start paying their fair share in taxes. In 2020, America’s 55 richest corporations paid zero dollars in federal income tax. not anymore I signed the 15% minimum corporate tax. And, I’m keeping my campaign promise: No one making less than $400,000 a year will pay a cent more in federal taxes.
The Republican plan is to repeal the 15% minimum corporate tax and expand Trump’s tax offer for the wealthy and large corporations. That would add $3 trillion to the deficit over 10 years and mean an average tax cut of more than $100,000 for the top 0.1%, who make more than $4 million.
Republicans plan to cut taxes for the wealthy, and some of their goals include cutting Social Security and Medicare for the elderly. Rick Scott, the Florida senator responsible for electing Republicans, says Congress must vote every five years to keep, cut or eliminate Social Security and Medicare. Wisconsin Senator Ron Johnson has proposed cutting Social Security and Medicare every year.
Republicans have also said that if they win control of Congress they can refuse to raise the debt limit and force our country back into debt if we don’t give in to their demands to cut Social Security and Medicare.
Let me be clear: As long as I am president, Social Security and Medicare will be protected.
We need to make it easier, not harder, for working Americans to get ahead. That’s why I took steps to ease the student debt burden of families recovering from the pandemic. Republicans criticized the move, but I will never forgive them for helping working and middle-class Americans as they recover from the pandemic. Primarily the same Republican officials who voted for a $2 trillion tax giveaway that benefited wealthy Americans and the biggest corporations.
The thing is, this isn’t your daddy’s Republican Party: Many Republicans in Congress want to pass a national abortion ban. I would veto it immediately, and if we elect more Democrats to the Senate and retain the House, Roe v. I’ll move on to coding Wade.
Democracy is being tested in America. We are learning what every generation must learn: nothing about democracy is guaranteed. You have to defend it. protect Choose it.
I have every confidence that, as they did in 2020, the American people will once again vote in record numbers and make it clear that democracy is a value that defines and unites us as Americans.
The stakes couldn’t be higher. And the choice couldn’t be clearer.
In recent years, we have faced the most difficult challenges in our history, but we have not given up. And, I have never been sure about our future. In 14 days, the American people will decide whether we move forward or retreat.