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Speech: Joe Biden Addresses the Economy at a Building Trades Union Event - April 25, 2023
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Joe Biden Person
Joe Biden
Neutral
00:00:00-00:00:08 (8 sec)
"Hello! Hello, Building Trades! [Applause] Hello, hello, hello! [Audience chants "Let's go Joe"]"
1
Joe Biden
Very Positive
00:00:08-00:00:15 (7 sec)
"Thank you. Thank you, thank you, thank you. [Audience chants "Let's go Joe"]"
2
Joe Biden
Neutral
00:00:15-00:00:21 (6 sec)
"Thank you. I think I'll -- I think I'll stop right there. [Laughter]"
3
Joe Biden
Neutral
00:00:21-00:00:24 (3 sec)
"Take a seat if you have one."
4
Joe Biden
Very Positive
00:00:24-00:00:42 (18 sec)
"Hello, Building Trades! And thank you, President and my friend Sean McGarvey. You've been a friend of mine for a long time, as many of you have. I wouldn't be standing here, I wouldn't have been elected to the United States Senate in the state that was a "right to work" state initially were it not for American union labor."
5
Joe Biden
Neutral
00:00:42-00:00:46 (4 sec)
"You know, I learned a long time ago: There's labor and there's unions. Unions. [Applause]"
6
Joe Biden
Somewhat Positive
00:00:46-00:01:12 (25 sec)
"And I want to congratulate my former Secretary of Labor, Marty Walsh. [Pronounced in Boston accent] [Laughter] You guys know Marty. [Applause] I tell you what: If you have to be in a foxhole, you want Marty next to you, you want Marty with you. [Applause] He's a man of his word. And the problem is he knows more than you do and more than I do."
7
Joe Biden
Somewhat Positive
00:01:12-00:01:23 (12 sec)
"Lifetime achievement award, but you've got a lot -- you've got a whole other lifetime to work out here, Marty. And, you know, you may be -- you may be carrying a hockey stick these days, but -- [laughter] -- but I'm still coming for you, man. [Laughter]"
8
Joe Biden
Very Positive
00:01:23-00:01:32 (8 sec)
"I want to thank you all for your continued support of Julie Su. She worked hand in hand with Marty, and she's going to be a great Secretary of Labor. [Applause]"
9
Joe Biden
Very Positive
00:01:32-00:01:40 (8 sec)
"So good to see you guys. This feels like coming home, you know. [Audience member calls out "Vote Joe"]"
10
Joe Biden
Very Positive
00:01:40-00:01:57 (17 sec)
"Well, you know, I'm here because there's no better place to talk about the progress we've made together. And it wouldn't have been made without you. And that's not hyperbole; that's a fact."
11
Joe Biden
Neutral
00:01:57-00:02:02 (5 sec)
"Our economic plan is working. We now have to finish the job, but there's more to do."
12
Joe Biden
Slightly Positive
00:02:02-00:02:25 (23 sec)
"And you're leading the way -- shovels in the ground, cranes in the air, factories opening. That -- all those jobs meaning -- we created. The IBEW jobs, ironworkers, boilermakers, teamsters, laborers, bricklayers, masons, plumbers and pipefitters, painters, plasterers, roofers, operating engineers, sheet metal workers. [Applause]"
13
Joe Biden
Neutral
00:02:25-00:02:32 (6 sec)
"My economic plan, as McGarvey said, is a blue-collar blueprint to rebuild America. And that's what we're doing: rebuilding America. [Applause]"
14
Joe Biden
Positive
00:02:32-00:03:16 (44 sec)
"And I make no apologies -- I make no apologies for being labeled the most pro-union President in American history. I'm proud of it. I'm proud of it. [Applause] I really am. I really am. Folks -- [applause] -- I really mean it."
15
Joe Biden
Very Positive
00:03:16-00:03:28 (12 sec)
"Folks, look, I tell business leaders all the time -- and I mean this sincerely -- including the Business Roundtable and those folks: Union workers are their saviors. You're the best -- not a joke -- you're the best workers in the world. Not a joke."
16
Joe Biden
Very Positive
00:03:28-00:03:38 (10 sec)
"When one of the South Korean plants was going to invest in the United States in a chips factory, I asked him why -- the CEO. He said, "Because you got the best workers in the world.""
17
Joe Biden
Very Positive
00:03:38-00:03:41 (3 sec)
"You're the best workers in the world. And that's not hyperbole."
18
Joe Biden
Very Positive
00:03:41-00:04:00 (19 sec)
"You know, it can take you four years to train to be as an apprentice. I wish we talked more about that, because people don't understand that. They don't understand: In order to become a full-blown member, you got to go through an apprentice process. It takes -- it's like going back to college. You're spending years doing it."
19
Joe Biden
Very Positive
00:04:00-00:04:04 (4 sec)
"You get the best job done on time, long-term, and it costs less in the process."
20
Joe Biden
Somewhat Positive
00:04:04-00:04:27 (23 sec)
"And I've said many times: Wall Street didn't build America. The middle class built America, and unions built the middle class! [Applause] They did. That's the God's truth."
21
Joe Biden
Very Positive
00:04:27-00:04:44 (17 sec)
"Folks -- [applause] -- and the good news -- the good news is even some of our corporate friends are figuring this out: that you did -- you built the middle class. And, folks, we've created more than 12 million new jobs. More jobs in two years than any President has created in a four-year term -- because of you. Because of you. [Applause]"
22
Joe Biden
Somewhat Negative
00:04:44-00:05:06 (22 sec)
"The unemployment rate is 3.5 percent, near a 50-point lo- -- 50-year low. An all-time record for construction jobs. Nearly 800,000 manufacturing jobs -- the fastest growth in 40 years. [Applause] Because we're buying American."
23
Joe Biden
Neutral
00:05:06-00:05:10 (4 sec)
"Where is it written that America can't lead the world again in manufacturing?"
24
Joe Biden
Very Positive
00:05:10-00:05:29 (19 sec)
"I ran for President to rebuild the backbone of America, the middle class; to grow the economy from the middle out and bottom up, not the top down. Because when the middle class does well, the poor have a ladder up and the wealthy still do very well. You don't have to worry about them. We all do well."
25
Joe Biden
Very Positive
00:05:29-00:05:39 (11 sec)
"But that's a clear contrast to the other side. They believe the best way to grow the economy is from the top down and then to watch the benefits trickle down to the rest of us. [Audience boos]"
26
Joe Biden
Somewhat Negative
00:05:39-00:05:42 (3 sec)
"No, I'm serious. Think about it."
27
Joe Biden
Somewhat Positive
00:05:42-00:05:46 (4 sec)
"Like many of you, not much trickled down to my dad's kitchen table."
28
Joe Biden
Very Positive
00:05:46-00:05:58 (12 sec)
"For decades, trickle-down economics hollowed out the middle class. Hollowed it out. We rewarded work -- wealth not work. Companies moved jobs overseas."
29
Joe Biden
Neutral
00:05:58-00:06:16 (18 sec)
"How many of you come from towns that you grew up in that used to have a factory of six hundred, eight hundred, a thousand people? Now it's gone. Why? Because they went overseas for cheaper labor. Not just in one administration but a series of administrations preceding us."
30
Joe Biden
Neutral
00:06:16-00:06:31 (15 sec)
"And as those jobs were lost, something else was lost as well that matters a lot to folks where I come from: a sense of pride, a notion of who you are, a sense of self-worth, earning our way."
31
Joe Biden
Slightly Positive
00:06:31-00:06:52 (21 sec)
"Because as my dad used to say -- I give you my word it's what he'd say -- he'd say, "Joey, a job is about a lot more than a paycheck, it's about your self-worth, it's about your sense of who you are. It's about being able to look your kid in the eye and say, 'Honey, it's going to be okay,' and mean it. It's about your dignity." And I think a lot of folks have forgotten that."
32
Joe Biden
Neutral
00:06:52-00:07:03 (11 sec)
"Folks, trickle-down economics doesn't work. We have a very different plan for the economy. We, you and I -- together, we're turning things around, and we're doing it in a big way. [Applause]"
33
Joe Biden
Very Positive
00:07:03-00:07:56 (53 sec)
"One of the first things I did as President was sign the American Rescue Plan, which helped save the nation from the pandemic, vaccinated millions of people. And through the -- and through the Butch Lewis Act, protected pensions, got relief who needed mo- -- [applause] -- we got relief to folks who needed it most to get the country back on track. [Applause]"
34
Joe Biden
Neutral
00:07:56-00:07:58 (3 sec)
"They didn't think we could do it. [Applause] It worked, and not a single Republican voted for it. [Audience boos]"
35
Joe Biden
Very Positive
00:07:58-00:08:17 (18 sec)
"Then I signed the Bipartisan Infrastructure Law, because to have the strongest economy in the world, we need the best infrastructure in the world. [Applause] Again, that's no joke. We need the best infrastructure in the world: roads, bridges, airports, water systems, high-speed Internet, and so much more."
36
Joe Biden
Very Positive
00:08:17-00:08:29 (12 sec)
"Can you believe we used to have the best infrastructure in the world? We were rated number one. We fell to number 13 in the international la- -- ratings. Thirteen."
37
Joe Biden
Neutral
00:08:29-00:08:36 (7 sec)
"Under my predecessor, "Infrastructure Week" became a punchline. On my watch, infrastructure has become a decade headline. A decade. [Applause]"
38
Joe Biden
Slightly Negative
00:08:36-00:08:37 (2 sec)
"And that's where you all come in. [Applause] No, really. That's where you all come in."
39
Joe Biden
Neutral
00:08:37-00:09:22 (45 sec)
"We've already announced over 25,000 infrastructure projects in 4,500 towns across America. And we're just getting started; we're not even close. Union workers will build roads, bridges; lay Internet cable; install 500,000 electric vehicle chargers throughout America. [Applause] And union workers are going to transform America. And union workers are going to finish the job."
40
Joe Biden
Neutral
00:09:22-00:09:33 (11 sec)
"And as we rebuild America, we're going to continue to buy America -- buy American. [Applause]"
41
Joe Biden
Leans Positive
00:09:33-00:09:42 (8 sec)
"If you might notice, I've been criticized by other countries, by our partners, and even by our Republican friends for buying American."
42
Joe Biden
Neutral
00:09:42-00:09:56 (14 sec)
"You know, I've announced a new standard that all construction materials -- all construction materials used in federal infrastructure projects have to be made in America. [Applause] Lumber, glass, drywall, fiber-optic cable, and so much more."
43
Joe Biden
Somewhat Positive
00:09:56-00:10:28 (32 sec)
"As President, I get to pick projects. I get to fund projects with the -- from the money that we get from the Congress. Every federal project is going to be built by American workers, using American products, creating American jobs! [Applause]"
44
Joe Biden
Slightly Positive
00:10:28-00:10:40 (12 sec)
"What most people didn't know -- I didn't know it, to be honest with you, eight years ago -- that's been the law since the '30s. But no one has had the nerve to insist on it."
45
Joe Biden
Positive
00:10:40-00:11:09 (29 sec)
"They used to say -- there's an ex- -- if you can't get the product, you can't get the workers, you can go somewhere else, look for it. Well, guess what? I changed that law. It used to be if you got -- you know, if you did 40 percent, it was okay, and so on. No, not anymore. I'm insisting on it. If we're going to spend American tax dollars -- Americans are paying the money -- and we're going to buy American when we do it. [Applause]"
46
Joe Biden
Slightly Positive
00:11:09-00:11:18 (9 sec)
"And, by the way, under international trade agreements, it's all legit. It's all legit. It's been there since the '30s."
47
Joe Biden
Neutral
00:11:18-00:11:37 (19 sec)
"Decades ago, the United States used to invest 2 percent of our gross domestic product -- everything in America -- 2 percent on research and development, allowing us to lead the world in major, fundamental changes in research and development. Today, it's 0.7 -- less than 1 percent."
48
Joe Biden
Leans Positive
00:11:37-00:11:45 (8 sec)
"We used to rank number one in the world in research and development. Now we rank number nine."
49
Joe Biden
Leans Positive
00:11:45-00:11:56 (10 sec)
"China was number eight decades ago. Now China is number two. And other countries are closing in."
50
Joe Biden
Very Negative
00:11:56-00:12:01 (6 sec)
"This is not about good or bad -- other countries. It's about competition. It's about competition."
51
Joe Biden
Positive
00:12:01-00:12:09 (7 sec)
"That's why, with your help, I designed and signed the CHIPS and Science Act."
52
Joe Biden
Very Positive
00:12:09-00:12:39 (30 sec)
"I asked the CEOs this question: When the United States invests -- and I really did. Not a joke. I asked them -- Marty remembers. I asked them: When the United States invests considerable resources in a new enterprise, in a new business, are they much more likely or much less likely to get in the game? And the answer is overwhelmingly: Yes, it matters. They get in the game when the American pu- -- when the United States of America makes a judgment, what they're going to invest in."
53
Joe Biden
Somewhat Positive
00:12:39-00:12:44 (4 sec)
"That's how we're bringing key parts of our supply chain back to America, like semiconductors."
54
Joe Biden
Very Negative
00:12:44-00:13:02 (18 sec)
"Folks, look, think how many people had no idea what the hell -- heck a supply chain was. [Laughter] No, I'm serious. If you said two and a half years ago, "Well, the supply chain," people would look at -- I mean really bright people -- look at, "The, uh, yeah... The... ""
55
Joe Biden
Neutral
00:13:02-00:13:14 (12 sec)
"Well, guess what? Because of the pandemic, when factories shut down in Asia, they had no idea they were supplying essential material to us. Shut down around the world."
56
Joe Biden
Leans Positive
00:13:14-00:13:27 (13 sec)
"You know, these small computer chips the size of a fingertip, they affect nearly everything in our lives: our cellphones, automobiles, refrigerators, sophisticated weapons systems. Everything."
57
Joe Biden
Positive
00:13:27-00:13:44 (17 sec)
"America invented these chips. We made them smaller, faster, and more powerful. But over time, we went from producing 40 percent of the world's chips down to producing just 10 percent of them, despite leading the world in research and design."
58
Joe Biden
Neutral
00:13:44-00:13:59 (14 sec)
"We saw what happened during the pandemic when the global economy came to a halt. Overseas factories that made these chips shut down, driving up the costs for everyone around the world, but particularly American families."
59
Joe Biden
Neutral
00:13:59-00:14:18 (19 sec)
"A lot of you know this, but every new car built needs at least as many as 3,000 of these chips. During the pandemic, that's the reason car prices skyrocketed. And in some cases, new car production shut down because the chips were in short supply."
60
Joe Biden
Very Positive
00:14:18-00:14:46 (28 sec)
"But now the private sector at home and abroad are investing over $400 billion in advanced manufacturing and clean energy here in America. [Applause] It's not an exaggeration to say that's on a scale never seen before in this nation. Never seen before. It's transformative."
61
Joe Biden
Very Positive
00:14:46-00:15:08 (22 sec)
"One of the private companies that's investing is Intel. I visited what they call -- what I call the "field of dreams," about a thousand acres outside of Columbus, Ohio, where Intel has committed $20 billion to build new -- two new chip factories. They call them "fabs." They're the size of football fields."
62
Joe Biden
Neutral
00:15:08-00:15:24 (15 sec)
"It'll be a total of 10,000 jobs: 7,000 construction jobs, prevailing wage, and 3,000 fulltime workers in those fabs. You know what the average salary in those fabs is going to be? One hundred and thirty thousand dollars a year. And you don't need a college degree. You don't need a college degree. [Applause]"
63
Joe Biden
Neutral
00:15:24-00:15:24 (1 sec)
"It's about time."
64
Joe Biden
Neutral
00:15:24-00:15:52 (27 sec)
"We see the same story not only in Ohio, but in New York and Texas, Arizona, Idaho, and so many more places to come."
65
Joe Biden
Very Positive
00:15:52-00:16:05 (14 sec)
"This is real progress like we haven't ever seen before. But don't take my word for it. Let me read a couple headlines from leftwing, Democratic papers -- the Wall Street Journal. [Laughter]"
66
Joe Biden
Neutral
00:16:05-00:16:11 (6 sec)
"Wall Street Journal writes, quote, "America is back in the factory business.""
67
Joe Biden
Neutral
00:16:11-00:16:16 (5 sec)
"Fortune Magazine, "Biden's Manufacturing Push Is Working.""
68
Joe Biden
Neutral
00:16:16-00:16:25 (9 sec)
"The Financial Times, "Transforma- -- Transformational Change: Biden's Industrial Policy Begins to Bear Fruit.""
69
Joe Biden
Very Positive
00:16:25-00:16:48 (22 sec)
"And a recent column in the New York Times -- "Make [DEL: Manufacture :DEL] [Manufacturing] Great Again" was the title of the article. It goes on to say: "President Biden appears to be presiding over the kind of manufacturing surge that Trump had promised." [Applause]"
70
Joe Biden
Neutral
00:16:48-00:16:57 (9 sec)
"Folks, we're not making this stuff up. This is real. It's time to finish the job -- finish the job. [Applause]"
71
Joe Biden
Neutral
00:16:57-00:16:58 (2 sec)
"But I als -- [Audience chants "Four more years"]"
72
Joe Biden
Very Positive
00:16:58-00:17:14 (16 sec)
"Thank you. Thank you. Thank you. Thank you."
73
Joe Biden
Negative
00:17:14-00:17:20 (6 sec)
"Folks, we've got a lot more work to do, though. I know folks are struggling with inflation."
74
Joe Biden
Slightly Positive
00:17:20-00:17:31 (10 sec)
"I grew up in a house when the price of gas went up at the gas station, it was talked about; you felt it at our house. For real. Many of you did as well."
75
Joe Biden
Very Negative
00:17:31-00:17:35 (4 sec)
"But it's not just the United States' problem. It's a global problem."
76
Joe Biden
Very Negative
00:17:35-00:17:54 (19 sec)
"The first pandemic disrupted the supply chain, causing prices to rise across the board. Putin's war in Ukraine disrupted energy supplies and food supply. There's millions of tons of grain in Ukraine. They blocked its access to the rest of the world."
77
Joe Biden
Neutral
00:17:54-00:18:04 (10 sec)
"Through our policies, the pace of inflation has been coming down now for nine months in a row, but there's more to go. It's slowed by 45 percent, but we have more to do."
78
Joe Biden
Positive
00:18:04-00:18:26 (22 sec)
"The way I think about it is the way my Dad used to talk about it around the table -- I mean it sincerely -- is: How much is left at the end of the month in the total income you have to pay after you pay all your bills of every kind? How much is left? Is there any breathing room left?"
79
Joe Biden
Leans Positive
00:18:26-00:18:35 (9 sec)
"Well, we brought down inflation, but there's other prices to bring down that aren't categorized that way."
80
Joe Biden
Neutral
00:18:35-00:18:42 (7 sec)
"That's why I signed and wrote the Inflation Reduction Act, because there's more than one way to bring costs for families."
81
Joe Biden
Somewhat Positive
00:18:42-00:19:08 (25 sec)
"For example, Americans -- this is not hyperbole; this is a fact -- Americans pay more for prescription drugs than any advanced country on Earth, any advanced coun- -- for the same exact drug. A drug made in America sold in England, France, Canada is cheaper than the drugs sold here and made here."
82
Joe Biden
Leans Negative
00:19:08-00:19:20 (12 sec)
"I've been fighting Pharma -- Big Pharma to allow Medicare to be able to negotiate prices for a long time, these pharmaceutical companies."
83
Joe Biden
Very Positive
00:19:20-00:19:37 (17 sec)
"Well, we finally beat Big Pharma. [Applause] They're still going to do very well, but we got it done, to my surprise, without a single Republican vote."
84
Joe Biden
Very Negative
00:19:37-00:19:46 (9 sec)
"I don't know where the hell these guy -- heck -- where these guys live. [Laughter] No, I really mean it. It surprised me."
85
Joe Biden
Leans Positive
00:19:46-00:20:04 (18 sec)
"I've had more than a half a dozen Republicans I used to serve in the Senate come up to me -- and I gave my word I'd never say who they were, and I never will -- "Joe, we agree with you. But if I do this, I'll lose the primary." Not a "Profiles in Courage," but an acknowledgement. [Laughter]"
86
Joe Biden
Neutral
00:20:04-00:20:08 (4 sec)
"Look, it's going to have a profound impact on people's cost of living."
87
Joe Biden
Very Positive
00:20:08-00:20:24 (16 sec)
"How many of you know someone with diabetes? Raise your hand. Well, there -- 1 in 10 Americans has diabetes. Millions of these diabetes patients need an insulin just, literally, to stay alive. Not a joke."
88
Joe Biden
Neutral
00:20:24-00:20:41 (18 sec)
"Insulin has been around for 100 years. The guy who invented it wouldn't put a patent on it because he wanted it to be made available to everybody. It costs drug companies $10 a vial to make. And if counting packaging and shipping and everything, it's probably $12."
89
Joe Biden
Positive
00:20:41-00:20:54 (13 sec)
"They've been charging hundreds of dollars -- three, four, five, six hundred dollars a month -- for the same exact product. And those who -- you know if somebody is on it, you know that's true."
90
Joe Biden
Somewhat Positive
00:20:54-00:21:05 (11 sec)
"And they've been making record profits, but not anymore! [Applause]"
91
Joe Biden
Somewhat Negative
00:21:05-00:21:26 (20 sec)
"Folks, the law we passed capped the cost of insulin at $35 a month for seniors on Medicare. Now, guess what? That is a 300-and-some percent increase in what it costs them to do it. It's not like they're being cheated. Thirty-five bucks in something that costs you ten to make."
92
Joe Biden
Leans Positive
00:21:26-00:21:59 (33 sec)
"And at the time we did it, I also included everybody, not just focusing on Medicare. But we didn't get the votes. We lost a couple of Democratic votes. We didn't get it for everybody, only seniors. Well, I'm coming back to make sure every single American who needs it only has to pay $35. [Applause] Everyone."
93
Joe Biden
Very Positive
00:21:59-00:22:27 (28 sec)
"Look, you folks are -- I'm not -- I'm not trying to be nice to you. You folks are really important to getting the -- this -- the message out. Just like you know there's well over a trillion dollars for the whole infrastructure law. Well, it takes a while to get it out, to get them started, to get the projects moving. It takes time. Well, the same way with the -- dealing with the drug companies."
94
Joe Biden
Neutral
00:22:27-00:22:46 (19 sec)
"Folks, the law that's the law now, passed -- although Republicans want to get rid of it, and the new Speaker of the House thinks it's not necessary. And, by the way -- by the way -- [Audience member calls out, inaudibly. Laughter]"
95
Joe Biden
Leans Negative
00:22:46-00:23:15 (29 sec)
"By the way, the fact is that this law on prescription drugs saves the government -- saves the government $168 billion. It doesn't cost the government; it saves them. Instead of having to pay out for the drug in Medicare, they don't have to pay that price. They pay the rational price. It's saving the taxpayers money and saving lives."
96
Joe Biden
Very Negative
00:23:15-00:23:49 (34 sec)
"Next year, the law I passed is going to cap out-of-pocket drug costs for seniors on Medicare. And, by the way, a lot of you know people, unfortunately -- and I did in my family too -- who need cancer drugs and drugs for serious illness that can be $10-, $12-, $14-, $16,000 a year. Well, next year -- next year, the law we already passed -- it didn't cu- -- doesn't kick in until next year, next January -- the most they ever have to pay, no matter what their costs are, is $3,500 a year for drug costs. [Applause]"
97
Joe Biden
Slightly Negative
00:23:49-00:24:14 (26 sec)
"And, by the way, the following year, the law requires to be capped at $2,000. [Applause] So even the expensive cancer drugs that literally cost up to $13-, $14-, $15,000 a year, they can't be charged more than $2,000 total. It's going to be a game-changer. It's going to save people's lives."
98
Joe Biden
Leans Positive
00:24:14-00:24:34 (20 sec)
"But think of -- a lot of you have -- like me, have lost families to cancer: children, mothers, fathers. Well, you know what it's going to do? In addition to saving lives, it's going to give people some peace of mind."
99
Joe Biden
Neutral
00:24:34-00:24:50 (16 sec)
"How many of you know when your mom or dad didn't want to tell you what they needed, didn't want to tell you how much it's going to cost? Didn't want to tell you if, in order to do it, they're going to have to sell the house. Didn't want to say anything."
100
Joe Biden
Very Positive
00:24:50-00:25:01 (11 sec)
"It goes back to -- maybe I -- it's the Irish of it, but it's all about dignity. It really is about people's dignity."
101
Joe Biden
Leans Positive
00:25:01-00:25:13 (12 sec)
"Inflation Reduction Act also makes the most significant investment in dealing with climate change, not only here in America but anywhere in the world, in the history of the world."
102
Joe Biden
Very Positive
00:25:13-00:25:32 (20 sec)
"It's creating tens of thousands of good-paying jobs. It offers working families $1,000 a year in savings with rebates if they buy energy-efficient appliance -- appliances; weatherize their homes. It offers tax credits for heat pumps, roof solar, new and used electric vehicles."
103
Joe Biden
Neutral
00:25:32-00:25:48 (15 sec)
"Speaking of jobs, as I said earlier, guess who's going to install those 500,000 charging stations? The IBEW. [Applause] You are."
104
Joe Biden
Very Negative
00:25:48-00:26:18 (30 sec)
"And, by the way, when you do, think about it this way: My grandpop, who I never met -- he died in the same hospital I was born in two weeks before I was born. But my grandpop was from -- as they say in Maryland -- from Baltimore. [Pronounced in Baltimore accent] [Laughter] And he worked for the American Oil Company. And his job was to open up new gas stations around the country back in the late -- of the '20s and '30s."
105
Joe Biden
Negative
00:26:18-00:26:31 (12 sec)
"And guess what? People didn't want those gas stations because they didn't want all those "How many thousand gallons of oil are sitti- -- gasoline are sitting below the surface of my neighborhood?" They were worried about."
106
Joe Biden
Somewhat Positive
00:26:31-00:26:43 (12 sec)
"But once the gas station was built, what happens? You end up having a drugstore. You end up having a coffee shop. You end up having -- it generates growth."
107
Joe Biden
Slightly Positive
00:26:43-00:26:55 (12 sec)
"Well, you know, you're going to be building the roads and the highways and the bridges to get to these places -- laborers, iron workers, operating engineers, steel metal workers -- women and men right here in this room."
108
Joe Biden
Slightly Negative
00:26:55-00:27:02 (7 sec)
"And, by the way, almost all our investments requires employees to pay -- employers to pay prevailing wage and use registered apprenticeships. [Applause]"
109
Joe Biden
Very Positive
00:27:02-00:27:26 (24 sec)
"Folks, again -- this is truly to my surprise -- not a single Republican voted for the law, and now they want to repeal huge -- huge parts of it, including the clean energy jobs and the union jobs."
110
Joe Biden
Leans Negative
00:27:26-00:27:34 (8 sec)
"You think I'm -- you know, if you didn't think -- if it weren't so prevalent around the -- in the news, you'd probably think I'm making it up. It's hard to make up."
111
Joe Biden
Somewhat Positive
00:27:34-00:27:39 (5 sec)
"We've made all this progress while being fiscally responsible."
112
Joe Biden
Leans Negative
00:27:39-00:28:06 (27 sec)
"Let me be clear: In my administration, no one -- no one -- earning less than $400,000 a year will see their taxes go up a single solitary penny, nor will they. [Applause] No one. Because I don't want any excuses."
113
Joe Biden
Very Negative
00:28:06-00:28:17 (10 sec)
"As a matter of fact, my first two years in office I've lowered the deficit by a record $1.7 trillion. [Applause] Lowered the deficit -- the debt."
114
Joe Biden
Very Positive
00:28:17-00:28:27 (10 sec)
"And a simple reason for that: We thought maybe people should start paying their fair share. The Inflation Reduction Act is going to bring down hundreds of billions more in decades ahead -- bring the -- the cost down."
115
Joe Biden
Very Positive
00:28:27-00:28:48 (21 sec)
"We're doing all this by making the biggest corporations just begin to pay part of their fair share. Just pay the fair share. Pay at least something. [Laughter] No -- true. [Applause]"
116
Joe Biden
Somewhat Positive
00:28:48-00:28:54 (6 sec)
"Let me ask you this: Anyone in this room think the sys- -- the existing tax system is fair? [Audience member calls out "Hell no." Audience calls out "No"]"
117
Joe Biden
Neutral
00:28:54-00:29:12 (18 sec)
"You got it, man. [Laughter] You got tired of hearing me talk about it. But in 2020, 55 of the Fortune 500 companies paid zero in taxes with income profit of $40 billion. Paid zero. [Audience boos]"
118
Joe Biden
Very Negative
00:29:12-00:29:28 (16 sec)
"And people thought I was either exaggerating or they just didn't think it was true. But it's wrong to have that occur. So I instituted a horrible tax on these guys. [Laughter] Fifteen percent. That's less than y'all pay."
119
Joe Biden
Neutral
00:29:28-00:29:47 (19 sec)
"And guess what? I've also proposed -- we now have -- we've gone from 700 billionaires since the pandemic to about 1,000 billionaires in America. You know how much their average tax is? E-I-G-H-T -- 8 percent."
120
Joe Biden
Very Negative
00:29:47-00:30:18 (31 sec)
"So I think there should be a minimum tax for billionaires. [Applause] No billionaire should be paying a lower tax rate than a construction worker, a schoolteacher, a firefighter, a cop, a nurse. [Applause] I mean it. It's wrong. It's simply wrong."
121
Joe Biden
Neutral
00:30:18-00:30:23 (4 sec)
"If you didn't -- if you didn't live through this, you'd think I was making it up."
122
Joe Biden
Positive
00:30:23-00:30:46 (23 sec)
"And meanwhile, guess what my MAGA Republican friends in Congress are up to? The Speaker of the House went to Wall Street last week to propose huge cuts in important programs that cut all discretionary funding by 22 percent, including ones I've just named -- programs millions of working- and middle-class Americans count on."
123
Joe Biden
Positive
00:30:46-00:30:54 (8 sec)
"At the same time, he and his MAGA Republican colleagues are pushing some tax giveaways for the wealthiest Americans and biggest corporations."
124
Joe Biden
Very Negative
00:30:54-00:31:18 (24 sec)
"They'd rather see kids and seniors struggle with ea- -- what they need, people on Medicaid lose their healthcare, veterans lose access to doctor's visits -- and that's part of it, by the way; not a joke -- than cut subsidies to Big Oil that made $200 billion, and Big Pharma and the wealthiest cor- --corporations."
125
Joe Biden
Slightly Negative
00:31:18-00:31:22 (4 sec)
"We're not evening talking about raising their taxes. We just stop the subsidies."
126
Joe Biden
Very Negative
00:31:22-00:31:48 (26 sec)
"The same old trickle-down dressed up in MAGA clothing. [Laughter] Only worse. [Applause] Because this time, they're saying if they get their way, they will let the -- if they don't get their way, if Biden doesn't agree with them and agree to all the cuts and know these -- and these tax increases for others, working people, they're going to let the country default on its debt. [Audience boos]"
127
Joe Biden
Very Negative
00:31:48-00:32:05 (17 sec)
"This is a debt that took over 200 years to accumulate. The last administration alone increased the debt by nearly 40 percent in four yea- -- in four years. And every single time, they passed the debt ceiling without any question."
128
Joe Biden
Leans Positive
00:32:05-00:32:18 (13 sec)
"Default would be totally irresponsible. I mean, it would mean cuts in Social Security and Medicare, higher interest rates for your credit cards, car loans, mortgages. The entire economy would put at risk."
129
Joe Biden
Neutral
00:32:18-00:32:34 (17 sec)
"Moody's -- you know, the -- that economic operation that comments on the economy -- they said that the Republican plan would cost us 780,000 jobs -- 780,000 jobs."
130
Joe Biden
Neutral
00:32:34-00:32:40 (5 sec)
"Working and the middle class, seniors paying the price."
131
Joe Biden
Very Positive
00:32:40-00:32:48 (9 sec)
"The Speaker likes to quote President Reagan. I love these guys -- how they selectively quote people, including making up quotes for me. [Laughter]"
132
Joe Biden
Very Positive
00:32:48-00:33:12 (23 sec)
"Well, President Reagan made it clear: We pay our debts. Here's his quote from him. He said, "The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility -- two things that set us apart in much of the world.""
133
Joe Biden
Somewhat Negative
00:33:12-00:33:25 (14 sec)
"Little did I think I'd be quoting Donald Trump. But even Donald Trump said, "I can't imagine [anyone] ever thinking of using the debt ceiling as a negotiating wedge.""
134
Joe Biden
Very Positive
00:33:25-00:33:37 (12 sec)
"And these guys are saying unless I agree to cut all these programs by 22 percent -- which is growing the economy -- and cut taxes for the super wealthy and corporations."
135
Joe Biden
Leans Negative
00:33:37-00:33:45 (7 sec)
"Folks, America is a not a deadbeat nation. We pay our bills."
136
Joe Biden
Very Negative
00:33:45-00:34:01 (17 sec)
"Look, let me close with this. I'm taking too much of you time. There are a lot of folks who look at the world and our economy through the eyes of Wall Street. I'm not one of them. I'm not saying anybody on Wall Street is bad guys. That's not how I look at the world."
137
Joe Biden
Slightly Positive
00:34:01-00:34:20 (19 sec)
"I look at the world through the eyes of Scranton and Claymont, Delaware, where I grew up. Not a joke. Through the eyes of the working people I grew up with in this nation, and the eyes or my dad. Through the eyes of people like you who have been able to make it because you're union."
138
Joe Biden
Neutral
00:34:20-00:34:43 (24 sec)
"The Speaker, the former President, and the MAGA extremists are cut from a different cloth. They treat these folks -- they treat these folks and they think they're a threat. They think that somehow we're going to go back."
139
Joe Biden
Very Negative
00:34:43-00:35:05 (21 sec)
"The threat that MAGA Republicans pose is to take us to a place we've never been and where the last guy tried to take us. And look how hard we had to fight to prevailing -- get prevailing wage Butch Lewis, Davis-Bacon project labor agreements; healthcare [inaudible]. [Applause] My God, we had to fight like hell. [Applause]"
140
Joe Biden
Positive
00:35:05-00:35:12 (8 sec)
"And, folks, we made a lot of progress because of all of you. [Applause] But there's more to do, so let's finish the job."
141
Joe Biden
Slightly Positive
00:35:12-00:35:21 (9 sec)
"I've long said it's never been a good bet to bet against America. And I can honestly say, as I stand here today, I've never been more optimistic about America's future."
142
Joe Biden
Neutral
00:35:21-00:35:36 (15 sec)
"We're on the cusp of major change. We're creating jobs again. Manufacturing has come alive again. People can afford a decent healthcare. Towns that had been forgotten and left behind for dead are coming alive again because of you all and what we're doing."
143
Joe Biden
Neutral
00:35:36-00:35:40 (4 sec)
"Now we've just got to keep it going, finish the job."
144
Joe Biden
Positive
00:35:40-00:35:52 (11 sec)
"We just have to remember who we are. We are the United States of America. [Applause] There is nothing, nothing, nothing beyond our capacity -- nothing -- if we work together."
145
Joe Biden
Very Positive
00:35:52-00:35:59 (7 sec)
"God bless you all. And may God protect our troops. Thank you, thank you, thank you. [Applause]"
146