KEY POINTS
  • Biden has been upbeat on his economic policies after recent reports showed near-record low unemployment and strong job growth, but his speech showed he has broader ambitions to reshape the economy.
  • He called for increasing taxes on the wealthiest Americans in addition to curbing anti-competitive practices and increasing rights for workers.
  • Ultimately in a divided Congress, it will be difficult for Biden to implement much of his plan the way he may hope to.
President Joe Biden delivers the State of the Union address to a joint session of Congress at the U.S. Capitol, Tuesday, Feb. 7, 2023, in Washington, as Vice President Kamala Harris and House Speaker Kevin McCarthy of Calif., applaud. 

President Joe Biden delivered his second State of the Union address to Congress on Tuesday night, marking the halfway point of his tenure. It was an opportunity for him to highlight his administration's achievements to date, as well as set the tone for how he hopes the next two, possibly more, years go.

Biden has been upbeat on his economic policies after recent reports showed near-record low unemployment and strong job growth, but his speech exhibited his broader ambitions to reshape the economy into one that grows "from the bottom up and the middle out, not from the top down."