President Joe Biden’s five-point plan: Reducing the Deficit, Tax Reform, Clean Energy, Lowering Prescription Drug Costs, and Covid Relief Fraud Recovery.

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Photo by Viki Mohamad on Unsplash.

Covid Relief Fraud Recovery

“The Justice Department has a chief prosecutor for pandemic fraud who is going to go after the criminals who stole billions — billions in relief money meant for small businesses and American families but never got to them — got in the pockets of criminals,” President Biden said during his speech, promising to recover those funds.

Reducing the Deficit

“The biggest decline on top of us having a $350 billion drop in the deficit last year, my first year as President,” Mr. Biden said in his speech. “For the first time since 2016, the Treasury Department is planning to pay down the national debt issued to the public this quarter. And for all the talk that Republicans make about deficits, it didn’t happen a single quarter under my predecessor. Not once.”

Lowering Prescription Drug Costs

“Look, it’s a plan that lets Medicare negotiate the price of prescription drugs, as they do with the Department of Veterans Affairs,” President Biden explained. “We can cap the price of insulin at $35 instead of the hundreds of dollars or even $1,000 a month for some families.”

Clean Energy

“And my plan provides tax credits to utility companies to generate clean energy and those companies are required to pass those savings on to families,” Mr. Biden said. “I met with about a dozen of those utility CEOs here in the White House, and they confirmed this plan will lower energy bills for families immediately.”

Tax Reform

“And we can do these things by making sure that no one earning less than $400,000 a year will pay a single penny more in federal taxes,” President Biden said. “All we’re asking is that the very wealthiest Americans and largest corporations begin to pay their fair share — at least part of their fair share.”