Democratic presidential candidate Joe Biden has proposed an economic plan worth 700 billion dollars during a campaign speech at a factory in the northeastern state of Pennsylvania.
If he becomes president, Biden will spend 400 billion dollars on government production purchases and 300 billion dollars on investments in technology, including green innovation. This should boost domestic production and create new jobs. He also wants to challenge incumbent President Donald Trump, who likes to present himself as the leader who brings jobs back to America.
Biden also said he would implement tax increases for the biggest earners and corporations. He scolded Amazon, which pays little federal income tax. “We will double taxes on foreign profits so that we do not encourage people to go abroad and build.”
The 77-year-old Democrat also scolded Trump’s handling of the Corona crisis and the division of the country. “He’s just the wrong man to lead now,” he said of his political rival.