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PRESIDENT BIDEN IS LASER-FOCUSED ON LOWERING COSTS WHILE CONGRESSIONAL REPUBLICANS UNVEIL PLANS TO INCREASE STRAIN ON WORKING AMERICANS

FOR IMMEDIATE RELEASE: March 10, 2022
PRESS CONTACT: [email protected]

PRESIDENT BIDEN IS LASER-FOCUSED ON LOWERING COSTS WHILE CONGRESSIONAL REPUBLICANS UNVEIL PLANS TO INCREASE STRAIN ON WORKING AMERICANS

President Biden is using every tool at his disposal to lower prices

WASHINGTON, D.C. — President Biden knows first-hand that even small increases in prices can cause financial strain for families. While Republicans in Congress have doubled down on proposals that would increase both taxes and the cost of living for everyday Americans, President Biden has laid out a plan to lower costs for all Americans by moving goods cheaper and faster, reducing prescription drug and energy costs, promoting competition, and eliminating barriers to jobs.

“President Biden has already taken significant steps to reduce inflation by fixing supply chain bottlenecks, creating good-paying manufacturing jobs here at home, and increasing fair competition in our economy,” said Building Back Together Executive Director Danielle Melfi. “While the Biden-Harris Administration works tirelessly to ease the burden on American families, Republicans in Congress are instead openly advocating for tax hikes and higher prices for Americans.”

The Biden-Harris Administration has been working since Day One to address the economic impact of COVID-19 and lower costs for American consumers:

  • More than 76% of Americans have gotten vaccinated, including 95% of Americans over the age of 65.
  • As a result of this historic vaccination effort, and ensuring Americans have the tools like boosters, treatments, tests and more, Americans have been able to get back to work and school.
  • This has helped jumpstart our economic recovery which has seen more than 7 million jobs created and the fastest economic growth in nearly four decades.


President Biden is using every tool at his disposal to further lower costs in order to boost American consumers, workers, and families. The President’s plan to lower costs will:

  • Make more goods in America, strengthen our supply chains, and ensure we can move those goods faster and cheaper.
  • Reduce everyday costs, including health care, prescription drug prices, utility bills, child and elder care, and more.
  • Promote fair competition in our economy that protects consumers and helps small businesses thrive.
  • Eliminate barriers to good-paying jobs for workers all across America.

The President has also worked to increase competition in our economy and limit price-gouging monopolies.
 

  • The President signed an executive order to prevent monopolies from driving up prices for consumers, and he has also taken steps to investigate price gouging by oil companies.
  • As Putin’s war drives up gas prices, the President has released millions of barrels of oil from the Strategic Petroleum Reserve and sent a clear message to oil and gas companies that using this crisis to hike prices on American consumers is unacceptable in order to blunt the impact of Putin’s actions on Americans here at home.
  • President Biden has also championed legislation like the COMPETES Act to increase American manufacturing competitiveness around the world.
  • In July, the Administration announced the creation of a competition council to ensure consumers get more choices and lower prices.

Meanwhile, Republicans in Congress, including Senators Rick Scott and Ron Johnson, are proposing plans to jack up taxes and prices for everyday families:
 

  • On Monday, Senator Johnson pledged that if Republicans regain control of Congress, they’ll eliminate the Affordable Care Act, which would mean higher prices and premiums, the elimination of protections for more than 100 million individuals with pre-existing conditions, and would kick 21 million Americans off their health care entirely.
  • Senator Scott, meanwhile, released an 11-point economic plan last week that would hike taxes on half of Americans, with a nonpartisan analysis showing that 97% of Senator Scott’s $100 billion tax increase would be paid for by taxpayers making less than $100,000.

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