tv President Biden Delivers Remarks on the American Jobs Plan CSPAN April 8, 2021 6:25am-6:52am EDT
the trial for derek chauvin, the former minneapolis police officer charged in the death of george floyd, continues thursday at 10:00 a.m. eastern. watch on c-span2, online or listen live on the c-span radio app. if you missed live coverage, watch at 8:00 p.m. eastern on c-span two anytime on demand at c-span.org. >> wednesday, president biden spoke about his infrastructure and jobs plan and the proposal for a global minimum tax rate. this runs 25 minutes.
pres. biden: good afternoon, everyone. last week in pittsburgh, pennsylvania, i announced my plan to rebuild what i referred to as the back bone of america through the american jobs plan. it is not a plan that tinkers around the edges, it is a once in a generation investment in america. since we built the interstate highway system and won the space race decades ago, it is the single largest investment in jobs since world war ii. it is a plan that puts millions of americans to work to fix what is broken in our country, roads
and highways, thousands of bridges in desperate need of repair. but it also is a blueprint for infrastructure needed for tomorrow. not just yesterday, tomorrow. for american jobs, for american competitiveness. last week, i said that once congress is back from recess i would get to work right away because we have no time to lose. so, here we are. democrats, republicans will have ideas about what they like and do not like about our plan. that is a good thing. that is the american way, that is the way democracy works. debate is welcome, compromise is inevitable, changes are certain. in the next few weeks, the vice president and i will be meeting with republicans and democrats to meet with everyone and we will be listening, open to good faith ideas and good negotiations. we will not be open to doing
nothing. inaction simply is not an option. now, since i announced this plan, i've heard from my republican friends say it is too big. they say, why not focus on traditional infrastructure? fix what we have already got, the roads and highways that exist and the bridges. i am happy to have that debate, but i want to tell you my view. we are america, we don't just fix for today, we build for tomorrow. 200 years ago, trains were not traditional infrastructure either, until america made a choice to lay down tracks across the country. highways were not traditional infrastructure until we allowed ourselves to imagine roads could connect our nation across state lines.
the idea of infrastructure has always evolved to meet the aspirations of the american people and their needs. and it is evolving again today. we need to start seeing infrastructure through its what is the foundation today that they need to carve out their place in the middle class, to make it, to live, to go to work, to raise families with dignity, to ensure good jobs are therefore their kids, no matter who they are and what zip code they live in? there for their kids, no matter who they are and what zip code they live in. that is what infrastructure means in the 21st century. it still depends on roads and bridges, ports and airports, mass transit, but also having reliable high-speed internet in every home. today's high-speed internet is
infrastructure. it depends on the electric grid. a grid that won't collapse in a winter storm or be compromised by hackers at home or abroad. it depends on investing in the community, including those historically left out, black communities, asian communities, rural communities. ask a teacher what makes up a good economy, it is having clean drinking water, non-contaminated drinking water in our schools and childcare centers. we know that the lead in our pipes slows child development when they drink that water.
ask the entrepreneur whose small businesses were destroyed by the second 100 year flood for the last 10 years in iowa. or wildfires in the west that burned 5 million acres last year, an area roughly the entire size of the state of new jersey. more fires than ever. the devastating damage, more frequent and intense storms on the gulf coast. ask farmers, business owners, homeowners, if investing in clean energy to fight climate change is part of infrastructure. ask folks in rural america, where more than 35% of the people lack a reliable high-speed internet, limiting their ability to conduct business or engage in remote learning for their schools.
ask them whether investing in internet access will lead to better jobs, new markets for farmers, better opportunities for their kids. i am serious about this. ask the moms and dads. the folks carrying enormous financial strains trying to raise their children and care for their elderly parents, or members of their family with a disability. ask them what infrastructure they need to build a better life, to be able to breathe a little bit. expanded services for seniors, home care workers, who go in to cook a meal, help them live independently in their home, allowing them to stay in their homes, saving medicaid hundreds of millions of dollars in the process. it is better wages and opportunities for health caregivers who are
disproportionately women, women of color, and immigrants. ask our wounded warriors and military families. to my republican colleagues in congress, shouldn't we modernize va hospitals, update them? many of them are more than 50 years old. how about the estimate 450,000 post 9/11 veterans with ptsd? when they make that emergency call, dad needs help, we have to bring him in, and they hear, you have to wait. we do not have room now. call me back in 10 days, 12 days. more suicides in the military. people getting shot. is it really your position that our veterans do not deserve the most modern facilities?
if you catch the cancer diagnosis quicker, with access to better roads, cleaner water, high-speed internet that delivers information faster and more of it? above all infrastructure is about meeting the needs of a nation, putting americans to work, to get paid for having good jobs. plumbers and pipefitters. you are replacing thousands of miles of dangerous lead pipes. everyone knows what happened in flint. there are hundreds of flints all across america. how many of you know when you send your children to school the fountain they are drinking out of is not fed by a lead pipe? how many of you know the school your child is in still has asbestos in the walls and a lack of ventilation? isn't that infrastructure?
line workers and electricians. transmission lines for a modern grid. over 500,000 charging stations on the highways we are going to build to accommodate electric vehicles so we can own the future. construction workers and engineers building modern hospitals and homes for american families. health care workers, steelworkers, folks that work in cutting edge labs doing 90% of the infrastructure jobs created by our american jobs plan can be filled by people who don't have a college degree. 75% don't need an associates degree.
as i said last week, this is a blue-collar blueprint for increasing opportunity for the american people. it also includes the biggest investment in nondefense research development on record. i promise you it is not part of my speech, but i promise you you are going to be reporting over the next six to eight months how china and the rest of the world is racing ahead of us in investments they have in the future, attempting to own the future, the technology, quantum computing, investing significant amounts of money, dealing with cancer and alzheimer's. that is the infrastructure of a nation. there is a new book out about how we have fallen behind. america is no longer the leader of the world because we are not investing. we use to invest 2.7% of our gdp in infrastructure. now it is about 0.7%.
when we were investing units, we were the leader in the world. i don't know why we don't get this. one of the few major economies in the world whose public investment in research and development has declined as a percentage of gdp in the last 25 years -- declined. the united states of america, that led the world. why does this matter? investing in research and development helped lead to lithium batteries, led technology. two the human genome project which helped lead to vaccine breakthroughs that are helping us beat covid-19. to the human genome project, which has led to breakthroughs
in how we understand and fight cancer and other diseases. government, meaning the taxpayers, funded this research. government. we stop investing in research, we stop investing in the jobs of the future and we give up leading the world. when we do invest in research what we are really doing is , raising the bar on what we can imagine. imagine a world where you and your family can travel coast to coast without a single tank of gas or on a high-speed train, close to as fast as you can go across the country in a plane. imagine your children to grow up working in innovation in good paying jobs in fields that have not been invented yet, like the parents of every computer programmer, graphic designer, renewable energy worker once did, imagined. we invest today so these jobs will be here in america tomorrow. so america can lead the world as it has historically done. that is why i brought back scientists into the white house.
we need to think. do we think the rest of the world is waiting around? we are not going to make those investments, the rest of the world is saying. take a look. do you think china is waiting around to invest in its digital infrastructure or research and development? i promise you, they are not waiting. but, they are counting on american democracy to be too slow, too limited, and too divided to keep pace. you have heard me say it before.
i think this generation can be marked by the competition between democracies and autocracies, because the world is changing so rapidly. the autocrats are betting on democracy not being able to generate the unity needed to make decisions to get in that race. we can't afford to prove them right. we have to show the world. much more important, we have to show ourselves that democracy works. that we can come together on the big things. this is the united states of america for god's sake. building the infrastructure of tomorrow requires investments today. i am open to ideas about how to pay for this plan with one exception.
i will not impose any tax increases on anyone making less than $400,000 a year. if others have ideas out there on how to pay for this investment without violating that rule, they should come forward. there are all kinds of opportunities. there are tax breaks i find difficult to explain. wealthy deductions, $360 billion, a top rate of 39%, which it used to be for years, all the way to the bush administration almost a quarter , of a trillion dollars. corporate minimum tax and the fossil fuel giveaways, $40 billion, etc. i could go on. let me tell you what i proposed to do. we are going to raise the corporate tax rate. it was 35% for the longest time, which was too high.
barack and i thought it was too high. we agreed five years ago it should come down somewhat, but the previous administration reduced it down to 21%. what i am proposing is that we meet in the middle. 28%. 28% would still have lower corporate rates than any time between world war ii and 2017. it will generate over $1 trillion in taxes over 15 years. a new independent study last week found at least 55 of our largest corporations use the various loopholes to pay zero federal income tax in 2020. it is not fair. it is not fair to the rest of the american taxpayers. we will try to put an end to this. not fleece them, 28%.
if you are a mom and dad, cop, firefighter, police officer, etc., you are paying close to that on your income tax. the global minimum tax being imposed around the world for u.s. corporations is 21%. let me tell you what that means. that means companies will not be able to hide their income in places like the cayman islands and bermuda. we will eliminate deductions used by corporations for off shoring jobs and shifting assets overseas. they shift assets overseas and don't have to pay taxes on all they make there. we will significantly ramp up irs enforcement against corporations and the super wealthy who either failed to report their income or underreport it. that will raise tens of billions of dollars. it adds up to more than what i proposed in just 15 years.
it is honest, it is fair, it is fiscally responsible, and it pays for what we need and reduces debt over the long haul. by the way, i did not hear our friends criticizing this plan say the corporate tax cut, which added two trillion dollars of debt, the trump tax cut, $2 trillion, $1.9 trillion in debt, was not paid for. the vast majority of which went to the top 1% of the wage earners. i did not hear anybody hollering in this recovery before i became president, this k-shaped recovery, where billionaires made 300 billion more dollars during this. . -- this period. where's the outrage there? i am not trying to punish anybody, but damn it, maybe it is because i am from a middle-class neighborhood, i am
sick and tired of ordinary people being fleeced. let me close by saying this. whatever partisan divisions there are around other issues, they don't have to be around this one. divisions should not stop us from doing the right thing for the future. these are not republican bridges, democratic airports, republican hospitals, democratic power grid. think of the transcontinental railroad, the interstate highway system, the space race. we are one nation, united and connected. as i said last week, i will bring republicans to the white house, invite them to come. we will have good faith negotiations. any republican that wants to get this done, i invite them. we have to get this done. we are at an inflection point in american democracy. this is a moment where we prove
whether or not democracy can deliver, where we can lay the foundation for an economy built from the bottom up and the middle out, not trickle-down economics. where they can lay a good foundation for good jobs in the 21st century economy. i tell the kids, the young people who work for me, and my kids, i go to college campuses. they will see more change in the next 10 years than we have seen in the last 50 years. we will talk about commercial aircrafts flying at subsonic, supersonic speeds. be able to figuratively, if we have decided to do it, to travel 21,000 miles per hour. traverse the word. so much is changing. we have got to lead it.
i believe democracy can come through, when the american people come together. we saw it in the american rescue plan, we are seeing it with the jobs plan. the american rescue plan was badly criticized. how many of my republican colleagues have you heard say, boy, people must really like it? it would be improper, not having asked permission. the number of republicans and democrats who are hesitant and say, god, this really works. the overwhelming majority of the american people support infrastructure investments that meet the moment. i urge congress, listen to your constituents.
together, we can lay a foundation around an economy that works for everyone, allows america to remain the world leader. when we do that, i believe, as i said last week, 50 years from now, when people look back, they will say, this was the moment together that we won america's future. i really believe that. thank you all, god bless you. may god present -- may god protect our troops. >> mr. president, would you go lower than the 28% rate? pres. biden: i am willing to listen, but we have got to pay for this. there are many other ways we can do this, but i am willing to negotiate that. i have come forward with the best, most rational way, in my view, the fairest way to pay for it. there are other ways, and i am open. >> will you have failed on your promise of bipartisanship if you do not get republicans on board
with this plan? pres. biden: what i said was, i would try to work with my friends on the others. there are things we are working on together, some of which we passed and some we will pass. the last plan i laid out was available, what i was suggesting, and how i deal with it. a bipartisan group came to see me. then a republican group came to see me. they started off at $600 billion and that was it. if they come forward with a plan, the bulk of it was $1 billion, it allowed me to have pieces within there, i would have been prepared to compromise, but they did not move an inch, not an inch. for example, i am dealing with a bipartisan group that came to see me.
now it is about three or four weeks ago when they came about computer chips and said, we have to have our own supply and have to work together. we are working on that. chuck schumer and mitch mcconnell are about to open up a -- introduce a bill along those lines. i am willing to work, but to automatically say the only thing in infrastructure is a highway, bridge, that is not rational. it really is not. the vast majority of americans think everything from the sewer pipes to the sewer facilities to the water pipes, those are infrastructure. thank you all very much. >> [indiscernible] pres. biden: the day after tomorrow. >> are you concerned about the situation there?
pres. biden: no, i am not. i called to tell them they have a friend in america. >> c-span is your unfiltered view of government. provided by these television companies and more including charter communications. >> broadband is a force for empowerment. that's white shower has -- charter has invested billions in communities big and small. charter is connecting us. >> charter communications support c-span as a public service along with these other television providers giving you a front row seat to democracy.