WASHINGTON – President Joe Biden will announce a “significant investment in clean energy manufacturing” as he touts his economic agenda in a speech in South Carolina on Thursday afternoon, according to White House communications director Ben LaBolt.
Biden plans to announce in his speech that companies have «committed more than $500 billion in clean energy and manufacturing investments in the United States» since the start of his term, the The White House said in a statement.
In South Carolina, Biden is expected to discuss the jobs created by a partnership between phase energy, supplier of solar energy equipment, and Flex, manufacturer. Enphase announces that it will invest more than $60 million to open six manufacturing lines in the United States, which are expected to create up to 1,800 jobs; two of those new lines will be in South Carolina, with the potential to add up to 600 jobs between Enphase and Flex, the White House said.
The speech, which will take place at Flex’s West Columbia facility, comes as administration officials tour the country this week to highlight Biden’s investments in the country as part of his economic plan, which they have dubbed «Bidenomics «.
“You are not done hearing about Bidenomics,” LaBolt said in a statement. «Following his important speech in Chicago, the President, Vice President, Cabinet members and senior administration officials will continue to push full-court on Bidenomics this week, highlighting how the President’s economic plan is investing in America and increasing competition to reduce costs for working families.
The president has attributed the recent job growth and reductions in inflation to legislation passed during his tenure, including the Inflation Reduction Act, which the White House says has mobilized companies like Enphase Energy to start clean energy manufacturing operations in the US.
The White House has described Bidenomics as a three-pillar plan that focuses on public investments, educating workers, and promoting competition as a way to reduce costs. The Biden administration frequently characterizes the plan as building the economy «from the middle out and from the bottom up,» rather than a trickle-down economy.
But the phrase «Bidenomics» has become a target for conservative politicians, some of whom have used it as a catchall for economic problems.
“Bidenomics is when you try to bankrupt small businesses, driving inflation to a 40-year high while raising interest rates to make capital inaccessible to Main Street,” one chart said. tweeted by the House Small Business Committee, controlled by the Republican Party.
«Bidenomics brought record inflation and wiped out people’s savings,» said Republican presidential candidate Nikki Haley. tweeted Thursday morning.
As part of the administration’s push to highlight Biden’s economic policies on Thursday, Interior Secretary Deb Haaland planned to be in New York to highlight clean energy efforts, Health and Human Services Secretary Xavier Becerra would travel to Ohio to emphasize efforts to reduce health care costs. and the director of the Small Business Administration, Isabella Guzmán, was traveling to California to speak about starting small businesses.
Biden touted his economic agenda in a speech in Chicago last week.
«Bidenomics is about the future,» he said. «Bidenomics is just another way of saying, ‘Restore the American dream because it worked before.'»