Biden said Thursday that the US manufacturing sector is at “a new low” and said that the economic recovery is still “very fragile.”
The president said that it is “time for Americans to move past the industrial revolution and look to the future.”
“I’m calling for a manufacturing renaissance, and we can do it,” he said.
“We can do this through a manufacturing revival.
The American people deserve a manufacturing resurgence that is not just good for the country, but good for our business.
We’ve got to rebuild our manufacturing base, but we also have to rebuild it for the long-term.
And I want a manufacturing base that’s growing, that’s paying for itself, that is growing the middle class, that builds a more competitive global economy, and that’s creating more jobs for all Americans.”
The manufacturing industry was the subject of a recent congressional hearing on Thursday, when Democrats pressed Biden on why the economy hasn’t recovered to the same level as the 1980s, and whether the economy is still experiencing a recovery.
The president also made the case for tax reform, saying the tax code needs to be simplified and simpler taxes for everyone.
“We’re doing well in the United States in terms of reducing tax rates,” he told the lawmakers.
“So if we can get those rates down to zero, that means we can be doing a lot more with the tax system, because we can’t be making people so much money that they don’t pay their fair share.
But I want to get tax rates back to where they were in 1980.”
The economic recovery has been “at a new low,” he added, noting that the unemployment rate has increased, and he said that more Americans are finding ways to make ends meet, and the economy should be able to continue to grow.
“The recovery is so fragile,” Biden said.