![]() ![]() Polls suggest the economy and rapid price growth, which touched a 40-year high this year, are top of mind for voters as they determine control of the House and Senate. Biden has struggled in recent weeks to persuade voters to view inflation as an issue that shows the contrasts between him and Republicans, rather than a referendum on his presidency and policies. “Their economic plan will raise costs and make inflation worse,” administration officials wrote. In a memo released by the White House on Thursday morning, officials sought to frame those proposals as potential fuel for further inflation, posing a risk to families struggling with high prices. ![]() Biden imposed to fund his agenda, extending business and individual tax cuts passed by Republicans in 2017 that are set to expire in the coming years, reducing federal regulations on energy development and other business and repealing the Inflation Reduction Act. Republican candidates have campaigned on rolling back some of the tax increases Mr. Many economists are forecasting an economic dip as the Federal Reserve raises interest rates rapidly in a bid to control inflation. Republicans were quick to try to cast the growth numbers as a negative, saying they would not last and would soon be replaced by a recession. Biden has pinned much of his economic agenda on his ability to revitalize American manufacturing, in particular the semiconductor industry, which is critical to industries varying from automobiles to artificial intelligence. Biden’s remarks came at a pivotal moment, with the United States embarking on its most expensive foray into industrial policy since World War II. Biden said the investment from the company, Micron, was a result of his administration’s effort to revitalize American manufacturing in certain industries, such as electric vehicles and semiconductors, in which the United States is competing with China for growing global markets. In a small gymnasium at Onondaga Community College, Mr. He also sought to deflect Republican attacks on his record on rapid inflation, the issue that has become a drag on Democratic candidates nationwide. President Biden hailed a major chip manufacturer’s pledge to invest $100 billion in new manufacturing facilities in upstate New York on Thursday, his latest attempt to try to convince voters ahead of the midterm elections that his administration has strengthened the American economy. ![]()
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