Joe Biden is building an economy that works for hardworking Americans.

2024 will be a choice between two very different economic visions for America: President Biden is working to lower costs and build the economy from the bottom up and middle out to give everyone a fair shot at the American Dream, while Donald Trump is focused on rigging the economy for himself and his ultra-wealthy friends.

After Donald Trump left office with the worst jobs record since the Great Depression, President Biden is building our economy from the bottom up and middle out – and he’s made enormous progress. Nearly 15 million new jobs, unemployment below 4% for two full years – the longest stretch in half a century, inflation falling, and wages, wealth, and employment are higher now than they were before the pandemic.

While we’ve made enormous progress, President Biden understands that middle-class life is too expensive right now. That is why he has passed laws to lower prescription drug costs, health care premiums, and energy costs. He will keep working every day to lower the cost of living, because he knows there is more work to do.

President Biden has fought to lower costs for working families from implementing historic legislation to lower prescription drugs costs, health insurance premiums, and clean energy costs, to taking on hidden junk fees that companies use to rip off consumers, and calling on large corporations to pass on to consumers the savings they have been seeing for months now.

And while working families are struggling to keep up with high costs, the rich and corporations have never been doing better. That is why President Biden is fighting to make the ultra-wealthy and big corporations pay their fair share by instituting a minimum tax on big corporations, cracking down on wealthy tax cheats, and closing tax loopholes.

It’s a stark contrast to Donald Trump, whose economic policies consistently prioritize the interests of the wealthy and big corporations at the expense of working families, and would make life more expensive across the country.

What has the Biden-Harris administration done to lower costs for families and fight inflation?

Despite what many forecasters were predicting a year ago, inflation is down while growth and the job market has remained strong. The economy has created nearly 15 million jobs since Biden took office, and wealth, wages, and employment are higher now than under Donald Trump. But there is much more work to do to lower costs for American families and American workers. That’s why President Biden is taking action to:

Lower the Cost of Prescription Drugs and Health Coverage: After decades of opposition, President Biden enacted a law that finally takes on Big Pharma and gives Medicare the power to negotiate drug prices. President Biden’s Inflation Reduction Act will save millions of seniors money on some of the costliest prescription drugs on the market. Beyond that, millions of seniors with diabetes are already benefiting from the $35 cap for a month’s supply of insulin under the President’s Inflation Reduction Act. Millions of Americans are saving $800 per year on health insurance premiums.
Eliminate Hidden Fees: Hidden, surprise fees that companies sneak onto customer bills, increase costs and stifle competition in industries across the economy. As part of his agenda to increase competition following his Executive Order on Promoting Competition, President Biden called on federal agencies, Congress, and private companies to crack down on junk fees and provide consumers with the full price up front.
Cancel Student Debt: From Day One of his administration, President Biden vowed to fix the student loan system and make sure higher education is a pathway to the middle class – not a barrier to opportunity.The Biden-Harris aAdministration has now approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers through more than two dozen executive actions.

What has the Biden-Harris administration done to revitalize struggling communities and stimulate local economies?

President Biden’s economic agenda is about investing in America to grow the economy from the middle out and bottom up – not the top down. And the President is delivering for communities across the country – including those that have been left out or overlooked, lowering costs for families, creating good-paying jobs, and advancing opportunity for all Americans.

After Donald Trump left office with the worst jobs record since the Great Depression, President Biden is building our economy from the bottom up and middle out. Just look at some of the latest data points:

The economy grew 3.1% last year—beating forecasts of a recession and stronger than during the Trump administration.
Nearly 15 million jobs have been created under President Biden, including nearly 800,000 manufacturing jobs
Unemployment under 4% for two full years – the longest stretch in half a century.
The strongest wage growth of any recovery in 50 years—accounting for inflation.
Wages, wealth, and jobs are higher than before the pandemic.
Inflation is down nearly two-thirds from its peak.

What has the Biden-Harris administration done for Small Businesses?

President Biden believes that small businesses power our economy. Since day one, he has provided small businesses with the resources and support they need to thrive. As a result, under Joe Biden the economy has spurred record small business growth including a record 16 million applications to start businesses! President Biden is fighting for an economic agenda that prioritizes Main Street – not Wall Street. That is why he is working to make the ultra-wealthy and big corporations pay their fair share by instituting a minimum tax on big corporations, cracking down on wealthy tax cheats, and closing tax loopholes.

It’s a stark contrast with Donald Trump’s record as president, when he rigged the economy for big corporations at the expense of Main Street businesses. His tax scam slashed the tax rate for giant corporations and left small businesses behind. His COVID response made it harder for small businesses to receive much needed help and left minority-owned businesses in the dust. And now Donald Trump and MAGA Republicans are doubling down on their extreme MAGAnomics agenda that would hurt our small businesses. Trump is running on a promise to extend and even expand his tax scam, lining the pockets of big corporations while Mom and Pop shops suffer.