announced a $1.75 trillion budget framework scaled-back from the original $3.5 trillion plan and thehe president made te announcement this morning in east room. [background sounds]. [background sounds]. >> good morning. biden: today i'm pleased to announce that after months of tough and thoughtful negotiations, think that we have an historic i know we have the stork economic framework the framework that will create

millions of jobs, grow the economy, invest in our nation and our people. and from the climate crisis turn it into an opportunity put us on the path not only to compete but to win the economic competition for the 21st century against china and every other major country in o the world. it is fiscally responsible and fully paid for and there are 17 nobel prize winners in economics senate will lower the inflationary on the economy and overad the next ten years, it wl not added to the deficit at all we will reduce the deficit according to these economists. on think them for their leadership and we spent hours and hours and hours over months and months working on this and no one got every one of these including me, but as a compromise, that is consensus and that's what i ran on. i'm long said they are the only

way to get big things done in a democracy and important things done forg the country. i know it is hard and i know how deeply people feel about the things that they fight for this framework includes historic investments in our nation andfi our people. any single one on this framework was fundamentally viewed or reviewed as fundamental change in america and taken together, they are truly consequential. i'll have more to say after i returned from critical meeting in europe this week for now, let me lay out a few points. first, we face an unknown and i apologize for saying this again, we face an inflection point as a nation. for most of the 20th century we lead the world by a significant margin because we invested inn our people. not only are roads and highways and our bridges, but our people and in our families we didn't just build another state highway

system, we build a highway in the sky. we invested to win the space race and we won and were also among the first to provide access to free education, for all-americans beginning back in the late 18 hundreds, that decision alone investing in the children and families was a major part of why we were able to lead the world for much of the 20th century. somewhere along the way we stopped investing in ourselves and our peopleop in america stil the largest economy in the world and we still have the most productive workers and most innovative minds in thehe world. what we risk losing in the nation, our infrastructure need to be raised to be the best in the world and today, according to the world economic forum, we rank 13th in the world. we used to lead the world in educational achievements and now the organization and the cooperation and development ranks america, 35th out of the

37 major countries when it comes to investing in early childhood education and care. we know how our children start, in fact significantly and how they will finish and we cannot be competitive in the 21st economy if we continue to slide. that's why i have set all along, we need to build america from the bottom up not from the top down. the trickle-down economics, that is always felt as i can think of a single dime in the middle class is done while the wealthy as not done very well and many times including out in the wealthiest super wealthy do very well in the middle class, don't do well. that's why proposed investments congress is now considering and two critical pieces of the legislation, positions iran on his his president, positions that i announce when i laid out in a joint session of congress, what might economic agenda was. these are not about left versus

right or moderate versus progressive or anything else of his americans against one another, this is about competitiveness versus complacency and competitiveness versus complacency, expanding opportunities, and about leading the world. and were letting the world passes by and today, with my democratic colleagues, we have a framework from our build, back, better initiative and here is how it will fundamentally change the lives of many people for the better. millions of you are in the sandwich generation who feel eventually squeezed by raising a child and caring for an aging parent 8,120,000 seniors in america and people with disabilities have applied for medicaid and they are on a waiting list now to get home care.

any somehow, not to be kicked out of their homes but they need a little help getting around, having meals made occasionally for them. and i want to put them in nursing homes because of the cost that because it is a matter of dignity, and want to stay at home. but it is hard, they're just looking for an answer so the parents can keep living independently with dignity and for millions of families in america, this issue is the most important issue they are facing it is personal. so here is what we are going to do, were going to expand services for seniors, some families can get help from well-trained well-paid professionals and help them take care of their parents at home. cookeds meals for them and get the groceries for them. and help them get around and help them live in their own homes with the dignity they deserve and they afforded pretty frankly, what we found o

it is that this is more popular grass popular as anything else we are proposing is the market people understand the need, is a matter of dignity and pride for our parents. thirty years ago, re- ranked in the seventh advance economies in the world as a share of the women of working and you know where we are today. twenty-third, we are 23rd seven - 23 and once again our competitors are investing and we are standing still. today, nearly 2 million women in america, not working today simply because they cannot afford childcare. typical family spends about $11000 on childcare in some states it is 40500 a year per child read and we will make sure that all families earning less n $300,000 a year, will pay no more than 7 percent of their income for child care.

and for a family making $100,000 year, that will save them more than $5000 in child care. that's a fundamental game changer for families and for our economy, is more parents especially women it and big and fat get back to work and work in the workforce and look at a lot of significant press people in front of me. a lot of them are working mothers and they know what it cost. i remember when i got to the senate, i lost my wife and daughter in an accident and i had two boys and a sorry community tutor 50 miles a day because i had my mom my dad andu my brother my sister help me take care of my kids because i cannot afford childcare and i was making a serious salary, $42000 a year we've also extended this historic middle class tax cut is what i call it for parents. the eggs expanded child tax

credit we passed through the american rescue plan and what that means is for folks at home, they are getting $300 a month for every child under the age of six month tour $50 for every child under the age of 18 for extending that. the money is already there for so many working families and cut child poverty and half according to the experts this year. that is not all it does, it changes the whole dynamics for working parents and you pay taxes in the past you have a good income, aer good duct under this tax code, $2000 per child from your tax that you owed but that many families do you know cashier leaders, healthcare workers who never got the benefit of the toll full tax prep because i did not have that much to deduct and was not refundable. so neither came off your tax bill or you didn't get full

credit, why should somebody making $5000 or hundred 50000 work $200,000 you get to write it off the taxes and the people need help even more, they don't have that much tax to pay they don't get the definitive the same cost of raising their children to an 80 percent of those left out, were working parents just did w not make enoh money. that's why the american rescue plan we did not just expand the amount on the tax cut we also made it refundable. in this framework will make it permanent refundable making sure that the families who needt it, given full credit for it in addition to those who are already gettingl full credit ad going to make sure that every three and four -year-old child in america, and a high quality preschool as part of l the legislation. studies show that when we put three and four -year-olds in

school, daycare, school, we increase up to 47 percent chance that that child no matter what their background, will be able to earn a college degree. my wife would say any country without education will outcompete us and we can finally take us from 12 years - working years of universal at the education in america we also make investments in higher education and increasing pell grants and help students from lower income families, attend community colleges and four-year schools and we invest in historically black universities, and minorities institution and the travel colleges to make sure that every young student has a shot and a good paying job in the future. it expands tax credits to lower premiums for the folks on the and the affordable care act to r another three years and four -

4 million folks in the 12 states that have been expanded medicaid, all the rest have on this framework will and get affordable coverage and medicarl nownd cover the cost of hearing aids, and hearing checkups. this framework also makes the most significant investments to do the climate crisis ever ever happening and be on any other advanced nation in the world. overne million remission reductions, at least ten times bigger on climate in any bill that is ever passed before and enough to position us for 50 - 52 percent reduction by the year of 2030. and will do it in ways that we can create good paying union jobs and long standing environmental addresses as well and tax credit to help people do things like winterize the homes of the useer less energy and

install solar panels and develop clean energy products. help business produce more clean energy and paired with a bipartisan infrastructure bill, we will truly transform this nation. historic investments in taxes on real everybody says that's true, passenger rail the freight rail the public transit, is going to make hundreds of thousands of vehicles off the road saving millions of thousands of oil everybody knows that and say show you get from point a to an a -- might be an electrical, you won't drive your car pretty will take the rail service and we've also learned that in most major cities in america, minority populations of the jobs they use an attempt, they are now out of town and roughly 60 percent of the folks of the do not have vehicles so they need to have the means to get out of town to the jobs to be on time.

and this will doo that like it did for detroit and there are 90 school buses in america, run diesel. every day for than 25 million children and thousands of bus drivers breathing polluted air on the way to from school on their exhaust and we will replace thousands of these with electric school buses that have big batteries underneath and are good for the climate and went down to one of the manufactured and sawon them in god and one i drove them and they do not expanded any pollution into the air will build out the firstwo network of 500,000 electric vehicle charging stations rated all across the country and so when you buyuy an electric vehicle, t credit for buying it and you go all the way across america on a single tank of gas, some gas,

you plug it in. 500,000, the stations along the way, will going to get off the sidelines and manufacturing solar panels and wind farmsms electric vehicles but target the manufacturing credits and manufacturing and it's doing it. these will help grow the supply chains too often left behind and we reward the country for playing good wages for companies and you say for good wages and for sourcing the materials from here in the united states. that means tens of millions of panels and turbines, doubling the numbers of electric vehicles on the roads in just three years. it will be able to sell any 20s products and technologies to the rest of the world and create thousands more jobs because we are once again going to be innovators. it will also make historic

investments in the cleanup and remediation and that means putting people to work in good paying jobs and good wage and tapping and hundreds of thousands of abandoned wells and gaps well under gas wells and a to be capped because they are leaking things that hurt the air. putting a stop to the methane leaks. in the pipeline and protecting the health of our communities, it is a big deal. we will build our resilience in the next super storm wildfires and hurricanes, that represent hundreds for american oil. last year alone, extreme weather events and we've all witnessed it and some of you have been caught in the middle of it, they have caused the $9 billion in 9damage in the united states for the last year, $99 billion.

and were not spending money to deal with this. it is costing us significantly. i met it electrical worker who climbs up in the middle of the storms to work on the transformers and he calls himself 100 percent union guy is jobs endless and he said, and a quote, i do not want my kids going up in the world were the threat of climate change hangs over the head. so we'll have an obligation an obligation to our children into our grandchildren. caa bipartisan inference or abot was also most significant investments in suite built the interstate highway system and one the space race decades ago. this is about rebuilding thery arteries of our economy, across the country now, there are 45000 bridges and 173,000 miles of

roads and report condition. some of the bridges you don't even take a chance across them and they have been shut down pretty you can't go back to the ssame standards. the weather will not get a lot better pretty we just gotta keep it from getting a lot worse we have to build back better and stronger and no one should have to hold the breath is across our bad bridge or a dangerous intersection the hometown 1 foot hard-working americans to bring this up to speed and good union jobs in prevailing wage. jobs you can raise a family on. jobs it cannot be outsourced. jobs replacing lead water pipes pretty so the families can drink clean water and improve the health of our children 20 aypipefitters to work and jobs laying thousands of miles of transmission lines to build a modern energy grid.

jobs making a high-speed internet affordable and available everywhere in rural and urban america. vertically including a 35 percent rural america that goes without it right now in this pandemic is made clear, the need for affordable and available high-speed internet and the idea of a parent having to put the kids in the car virtual learning, drive and sitting in mcdonald's parking lot so thee child can access te internet when schools taught virtually is not only unnecessary, it is just wrong. these plans are fiscally responsible and there fully paid for an account and a single penny to the deficit and they don't raise taxes on anyone making less and hundred thousand dollars year. in fact they reduce the deficit and here is how. i don't finish anybody's success, when everybody to they want to be a millionaire

billionaire, to be able to seek their goal all i am asking is, a your fair share. pay your fair share, pay your fair share in right now, there being virtually nothing. last year in the 55 most profitable corporations, 55 of them paid zero in federal income tax on about $40 billion in profit. ... ... it's that simple. that's why the build back better framework will have a 15% minimum on the largest corporations. a minimum tax of 15%. the top 1% of the wealthiest americans evade, it's estimated by experts, $160 billion a year in federal taxes. that's wrong.

we're going to change that. i want to emphasize that i said from the beginning, under my plan, in you -- if you earn less than $400,000 you won't pay a single penny more in federal taxes period. these bills continue cutting taxes for middle class, child care and much more. let me close with this. for much too long, working people of this nation in the middle class of this country have been dealt out of the american deal. it's time to deal them back in. i ran for president saying it was time to reduce the burden on the middle class. to rebuild the backbone of this nation. working people and the middle class. couldn't have been any clearer. from the very moment i announced my candidacy. that's why i wrote these bills in the first place and took them to the people. i campaigned on them. the american people spoke.

this agenda, the agenda in these bills is what 81 million americans voted for. more people voted than any time in american history. that's what they voted for. their voices deserve to be heard. not denied. or worse, ignored. because here's what i know. we make these investments, there will be no stopping the american people or america. we will own the future. i've long said it's never been a good bet to bet against the american people. i've said that to foreign leaders as well as everyone here in this unt kri. which means it's always a good bet to bet on the american people. just give them half a chance. that's what we're doing. that's what these plans do. they're about betting on america. about believing in america. about believing in the capacity of the american people. if you look at the history of the journey of

>> it becomes crystal clear is this, i will say it again, give me have a chance and the american people have never ever ever ever let the country down so let's get this done. god bless you will meet god protect your groups and seawall in italy and thank you. [inaudible]. [inaudible]. [inaudible]. >> american history tv, saturday on "c-span2", extorting the people in advance to tell the american story, at 80 in front

of lectures in history to discussion about american presidents, the first is professor talks about presidential speeches and public opinions from the 1970s, the 1990s as communication shifted from network television to cable and then the internet than a 910 eastern, college professor david o'connell examines legacies and what factors contribute to making successful presidential term at 2:00 p.m. eastern on the presidency, former assistant attorney general for the district of columbia, discusses his book on the truman, lawton limits of loyalty and establishes the presence for the political sensation of the supreme court in exploring the american story and watch american history tv, saturday on "c-span2". >> book tv every sunday on "c-span2" features leading authors discussing the latest

nonfiction books and at 2:00 p.m. eastern, fox news host jeffrey waters activists and the policies they supported his book, how i save the world and then 2:45 p.m., conservative broadcaster and journalist, talked about his new book this moment in which he argues is pushing the agenda in america. and a 7:30 p.m., get the latest in publishing industry news, and trends plus insider interview about tv new program about books and a 10:00 p.m., on afterwards, in his latest book, inside corporate america social justice, entrepreneur argues that corporate america singing onto the culture helping to increase profits and is interviewed by matthew harvard university economics professor and former chair of the presidents council council of economic advisers during the george w. bush administration and watch book tv every sunday on "c-span2" on a full schedule

and program guide, or watch online anytime a booktv.org. >> this week on q&a the senior fellow at the american enterprise institute discusses the critical look at the more than one or near effort by the federal government by developers and others to create low-cost housing in the united states is half what happens is that once your home is going down, it seems nice at first but you can only rest in the project and the government owned 70 can never own anything in public and subsidized housing and to this day, this remains a problem and 37 percent of the residents of public housing, to this day are african-americans and as a people are not owning anything in accumulating wealth and we should not be surprised that having stared african-americans into public housing, and there is a gap between the black and

white and white well pretty. >> sunday night at eight eastern on c-span's q&a, you can listen to q&a our podcast or new c-span now at. >> you can be a part of the national conversation it participated c-span's video competition, your opinion matters pretty fair miller high school student rescue degree and a five - six minute documentary that acts entered as the question what is the federal government impact your life in your supporting and opposing points of view by the federal policy program rated you in your community using c-span video clips which are easy to find and access in cspan.org and cspan2 camp competition or $100,000 in total cash prizes have a shot at winning the grand prize of $5000 in entries must be received

before january 20, 2022 and 4 competition rules, or just having to start a visitor website at student cam .org. >> joining us this morning correspondent with an ancient magazine, here to talk about justices and course and the other justice department issues. and let's begin with the supreme court and the decisions they made it to hear the arguments in the texas abortion case rated when they actually decide and what will they be ruling on. >> and unconstitutional of women's rights to go forward until they can finally get around to making a decision on the merit in the import and they started and challenge against them on november 1st but that is just oral argument and oftead