[Asia Economy Reporter Cho Hyun-ui] U.S. President Joe Biden received mixed reactions from both parties in the U.S. over his first State of the Union address on the 1st (local time), in which he mentioned economic issues such as the worst inflation in 40 years. Analysts say the major agendas, except for the Ukraine situation, caused clashes between the parties.
According to the U.S. political media The Hill, when President Biden criticized the tax cuts for the wealthy passed during the Donald Trump administration at the joint session of Congress that day, the Democrats booed in agreement (toward the Trump administration).
On the other hand, the Republicans, who were applauding, stopped when President Biden announced domestic policies to overcome inflation and shouted "Build the border wall" regarding immigration policy.
The Hill stated, "Except for the Ukraine invasion issue, the parties showed different reactions on all other matters." President Biden especially responded to the Republican criticism that "the Biden administration has set back the economy" by presenting measures targeting inflation.
In his speech that day, President Biden emphasized, "My top priority is to control prices," and said, "Instead of relying on foreign supply chains, let's make things in the U.S."
He specifically mentioned cost reduction rather than wages, producing more cars and semiconductors domestically, and faster and cheaper transportation of more goods. The Hill noted, "President Biden emphasized that 6.5 million jobs were added last year and that the infrastructure investment bill was passed."
President Biden also repeatedly called for cooperation from Congress.
He said, "A significant part of the power to resolve inflation lies with the Federal Reserve (Fed)," and requested the Senate to confirm the Fed nominees who are pending due to Republican opposition.
Additionally, he announced plans to revamp the $2.2 trillion social welfare budget bill 'Build Back Better,' which passed the House last November but has not even been voted on in the Senate, into 'Build a Better America.'
President Biden said, "Democrats and Republicans should not see each other as enemies but as 'fellow Americans,'" and presented agendas on which bipartisan lawmakers can cooperate, such as protecting children's privacy on social media.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
