Politics

Biden outlines plans to cut U.S. deficit by $2 trillion over the next decade

U.S. President Joe Biden warned union workers Wednesday about the state of the economy and the threats that House Republicans and their policies pose to rank-and-file members.

Wednesday's speech to the the International Brotherhood of Electrical Workers Local Union 26 in Maryland is the latest in a string of public addresses he's given on his plan to, in his words, "build an economy from the bottom up and the middle out."

Biden has made a point of speaking to union workers and highlighting jobs being created by his policies, like the Bipartisan Infrastructure Law, that don't require four-year college degrees. The president visited a LIUNA Laborers' Apprenticeship and Training Center in Wisconsin last week and a steamfitters hall in Virginia in late January.

The president bashed Republican policies in Wednesday's speech, arguing the rival GOP plan would increase the debt by more than $3 trillion over the next decade, specifically benefiting the richest Americans, corporations and pharmaceutical companies.

Biden argued that his budget won't increase taxes on Americans making less than $400,000 a year and will ultimately cut the deficit by $2 trillion over the next decade. The president has yet to release his budget plan but has promised to do so by March 9.