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Joe Biden declared Wednesday that his economic policies
President Joe Biden declared Wednesday that his economic policies are reviving U.S. manufacturing as he toured the West to drum up support for his efforts on jobs and inflation in the face of voters’ doubts.
“I’m not here to declare victory on the economy. We have a lot more work to do,” Biden said at Arcosa Wind Towers, a facility that once made Solo cups and other plastics but is now shifting to manufacturing wind towers. “But we have a plan. And it’s turning things around.”
Arcosa, the president said, was a “great example” of how the administration’s legislative achievements have bolstered jobs and investments in the U.S. The company had to lay off workers in Illinois and Iowa before Biden’s Inflation Reduction Act became law last year, but customers placed $1.1 billion in wind tower orders with the company afterward, according to the White House. The stock has risen more than 20% in the past 12 months.
“Folks — when I think climate, I think jobs,” Biden said, referring to cleaner energy production in his remarks at the plant making wind towers.
He pointed to climate-related investments not only at Arcosa but at major corporations such as General Electric, and added: “Every one of these companies has pointed to the clean energy law that we originated and I signed for making these investments.”
The claim from Biden and the White House that the administration has bolstered U.S. manufacturing is backed by a rise in construction spending on new factories. But factory hiring has begun to slow in recent months, a sign that the promised boom has yet to fully materialize.
That hasn’t stopped the White House from telling voters ahead of the 2024 election that the Democratic president’s agenda has triggered a revival in factory work.
“Hundreds of actions coordinated through his entire government are sparking a manufacturing renaissance across the United States,” White House climate adviser Ali Zaidi told reporters ahead of Biden’s New Mexico speech.
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Biden claims his economic policies are reviving manufacturing, making his case at a wind farm plant
President Joe Biden says his policies of financial and tax incentives have revived U.S. manufacturing
Biden’s trip to the Southwest is playing out against the backdrop of his reelection campaign and as a majority of U.S. adults say they believe the economy is in poor shape. The president is trying to break through pessimism that intensified last year as inflation spiked. His trip included a Tuesday speech in Arizona and will end with remarks Thursday in Utah. In 2020, Biden won both Arizona and New Mexico, key states that he likely needs next year to secure another term.
The president does have a case to make to the public on employment. As the U.S. economy has healed from the coronavirus pandemic, hiring has surged at factories. Manufacturing jobs have climbed to their highest totals in nearly 15 years. This is the first time since the 1970s that manufacturing employment has fully recovered from a recession, expanding by 789,000 jobs since Biden took office.
But the pace of job growth at manufacturers has slowed over the past year. Factories were adding roughly 500,000 workers annually last summer, a figure that in the government’s most recent jobs report fell to 125,000 gains over the past 12 months.
Biden administration officials have said there are more factory jobs coming because of its infrastructure spending, investments in computer chip plants and the various incentives in the Inflation Reduction Act.
