Biden unveils $975 billion US recovery plan

WASHINGTON • Democratic presidential candidate Joe Biden has unveiled a US$700 billion (S$975 billion) plan to create millions of jobs and invest in new technologies in an aggressive challenge to President Donald Trump on US economic policy, a critical campaign issue ahead of November's election.

Mr Biden presented the sweeping "Build Back Better" proposal, a contrast to Mr Trump's "America first" agenda, during a speech on Thursday at a metal works plant in Pennsylvania, a battleground state.

The former vice-president's plan for manufacturing and innovation aims to bring back jobs lost during the coronavirus pandemic, and create more than five million new jobs by investing in domestic production and research, and shrinking foreign supply chains.

The multi-pronged approach also tightens "Buy America" guidelines, promotes new tax rules including hiking the corporate tax rate to 28 per cent from 21 per cent, and supports expanding union access to empower American workers.

"That's what my plan is, to build back better," Mr Biden said after touring a 101-year-old factory outside Scranton, the blue-collar city where he grew up.

The goal is "to sharpen America's competitive edge" in new industries such as battery technology, artificial intelligence, biotechnologies and clean energy. "That's the future," he said.

He also rejected the "defeatist view" that automation and globalisation will render Americans helpless to retain well-paid union jobs.

"American manufacturing was the functioning arsenal of democracy in World War II, and has to be part of the engine of new prosperity in America now," he said.

His plan to protect workers underscores a recognition that, despite Mr Trump's poor job approval numbers, voters still see him as stronger than Mr Biden on handling the United States economy.

Mr Trump won in 2016 largely on the promise of bringing back lost manufacturing jobs. But while Mr Trump repeatedly invokes business as a leading force in reviving the economy, Mr Biden's plan relies on the federal government to "bolster American industrial and technological strength".

It proposes a US$400 billion investment in domestic product procurement, and US$300 billion for research and development (R&D) as well as breakthrough technologies including reusable energy and electric vehicles.

"All told, this will be a mobilisation of R&D and procurement investment in ways not seen since the Great Depression and World War II," Mr Biden said.

He also savaged Mr Trump for being woefully unprepared in responding to the coronavirus pandemic, which has killed more than 135,000 Americans so far; failing to adequately address the "deep wound of systemic racism" in the country; and ignoring the plight of working class families.

"Trump has simply given up," Mr Biden said, adding that working class families are "paying the price for this administration's incompetence".

"He's exactly the wrong person to lead in this moment," he added.

Mr Biden's presentation came as Vice-President Mike Pence was also visiting Pennsylvania, where he hosted a round-table discussion on reopening the US.

The Trump campaign, meanwhile, has accused Mr Biden of aligning with his progressive former presidential rival Bernie Sanders, whose supporters worked with Mr Biden's campaign to unveil joint policy proposals on Wednesday that were seen as more liberal than Mr Biden's more moderate original positions.

"Biden's wilful attack on our jobs, our families, and the American way of life will reverse all the gains we've made together and plunge us into economic catastrophe," said Mr Hogan Gidley, a Trump campaign spokesman.

With opinion polls showing Mr Trump trailing Mr Biden on virtually all issues except the economy, the President has focused his efforts on reopening and reviving businesses ravaged by the pandemic, even as new infections surge.

Mr Biden holds an 8.8 per cent lead over Mr Trump nationally, according to a RealClearPolitics poll aggregate.

He also leads in swing states that Mr Trump won in 2016, including Florida, North Carolina and Pennsylvania.

AGENCE FRANCE-PRESSE