WATCHLIVE: President Biden is speaking to discuss the just-passed debt deal that would suspend the nation’s debt limit until January 1, 2025. Hear what he has to say here:
Biden also made a renewed pitch for his governing style, which he described as less shouting and lower temperatures after four years of President Donald Trump.Even as he pledged to continue working with Republicans, Biden also drew contrasts with the opposing party, particularly when it comes to raising taxes on the wealthy, something the Democratic president has sought.“I’m going to be coming back," he said."With your help, I’m going to win.
White House press secretary Karine Jean-Pierre said Friday that Biden was using the occasion to deliver his first address to the nation from behind the Resolute Desk in the Oval Office because “he just wanted to make sure that the American people understood how important it was to get this done, how important it was to do this in a bipartisan way.”
Overall, the 99-page bill restricts spending for the next two years and changes some policies, including imposing new work requirements for older Americans receiving food aid and greenlighting an Appalachian natural gas pipeline that many Democrats oppose. Some environmental rules were modified to help streamline approvals for infrastructure and energy projects — a move long sought by moderates in Congress.
The legislation also bolsters funds for defense and veterans, cuts back some new money for Internal Revenue Service and rejects Biden’s call to roll back Trump-era tax breaks on corporations and the wealthy to help cover the nation’s deficits. But the White House said the IRS' plans to step up enforcement of tax laws for high-income earners and corporations would continue.
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