Joe Biden unveiled a $700 billion proposal for American industry to grow as the centerpiece of his presidential campaign to lead the nation's economic recovery following the devastating coronavirus pandemic on Thursday.
The ambitious "buy American" initiative is one cornerstone of a wider economic agenda, called "Build Back Better," which Biden is expected to describe on Thursday afternoon at a speech near his home town of Scranton, Pennsylvania.
While in national and battleground state polls, Biden leads Donald Trump, voters consistently claim they support the economy's stewardship of the president.
The initiative calls for the federal government to purchase US products and services worth $400 billion and to spend $300 billion in research and development of technology such as electric cars, 5 G networks and artificial intelligence. The proposal will generate "at least 5 m new jobs in manufacturing and innovation" according to an overview given by the campaign.
The ambitious "buy American" initiative is one cornerstone of a wider economic agenda, called "Build Back Better," which Biden is expected to describe on Thursday afternoon at a speech near his home town of Scranton, Pennsylvania.
While in national and battleground state polls, Biden leads Donald Trump, voters consistently claim they support the economy's stewardship of the president.
The initiative calls for the federal government to purchase US products and services worth $400 billion and to spend $300 billion in research and development of technology such as electric cars, 5 G networks and artificial intelligence. The proposal will generate "at least 5 m new jobs in manufacturing and innovation" according to an overview given by the campaign.
"It would be the greatest mobilization of public procurement, infrastructure, and [research and development] expenditures since the Second World War," the proposal states.
Certain measures contained in the program include initiatives to make unionization and collective bargaining easier for employees and to increase implementation of "buy American" regulations that are meant to support American manufacturing but can be easily circumvented.
The drive to "buy American" and build American jobs is part of a wider economic agenda that incorporates three additional pillars: a "clean energy future" investment; funding for caregivers and domestic workers; and, according to the initiative, racial equality. In the coming weeks, it will provide more information on the latter three areas, ahead of the party convention in August.
It contains a version of a proposal first introduced by Biden 's top running mate, Elizabeth Warren, to exploit the federal procurement process to buy American-made products and create jobs.
It contains a version of a proposal first introduced by Biden 's top running mate, Elizabeth Warren, to exploit the federal procurement process to buy American-made products and create jobs.
Warren as well as Biden's former competitors such as Pete Buttigieg and Amy Klobuchar, and possible vice-presidential candidates like Tammy Duckworth and Gretchen Whitmer, are expected to pitch the proposal in this week's media interviews and political events as part of an attempt to present a united Democratic front.
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