Biden 2024 kickoff counters Trump with focus on economy

BLOOMBERG

President Joe Biden called for new taxes on the wealthy and corporations and warned Republicans would roll back policies he argued had saved the US economy, setting out core themes as he kicked off his reelection campaign.
Biden didn’t mention Donald Trump during a rally with union members in Philadelphia. Instead, the president contrasted his platform with his twice-indicted Republican rival’s agenda. It’s a sign Biden wants to put populist economic issues — rather than legal controversies — at the centre of his pitch for a second term.
“It’s time for millionaires and billionaires and big corporations to pay their fair share. I can get that done, but I need you badly. So are you with me?” Biden told the crowd of cheering union workers inside Philadelphia’s convention centre.
The president touted his domestic achievements and argued they’ve fuelled economic growth, a hot jobs market and gains for the middle class. He cited laws passed during his first two years in office including a climate, health and tax package and new funding for infrastructure and semiconductor manufacturing.
“Folks, this didn’t just happen. We made it happen,” Biden said, adding that most Republicans “oppose everything I’ve done and most want to get rid of it all. So we got a fight in our hands.”
If Republicans win back power and repeal funding for new roads, bridges and clean energy projects, Biden warned the union workers, it means “they’re coming for your jobs.”
“They’re coming for the future you’re building for your kids and your grandkids,” he said. The economic focus aims to help Biden frame the election as a choice between himself and the GOP, while skirting the classified documents case against Trump and other controversies that have dominated the headlines.
The president has been careful not to comment on the criminal charges against his predecessor, wary it could play into GOP allegations the prosecution is politically motivated. Biden also faces his own federal investigation into the possession of classified documents.
As part of the buildup, Biden will open his campaign headquarters in Wilmington, Delaware, this summer, according to two people familiar with the plan. He also plans to hold more events aimed at framing his economic message, according to one of the people.
“The president talking about his historic investments versus Republicans talking about historic indictments, I think, will play hugely positively for him at the beginning of his campaign and will speak volumes to the American people without him having to say a word about anything that’s going on on the other side,” said Maria Cardona, a strategist and Democratic National Committee member.
As he steps up his campaigning, Biden is enjoying economic tailwinds he is eager to highlight. The Federal Reserve paused interest-rate hikes amid slowing inflation, payrolls surged in May, and the University of Michigan’s consumer sentiment index rose in June.