The Perfect Enemy | Post Politics Now: A big day for the economy and Biden’s economic priorities
August 17, 2022

Post Politics Now: A big day for the economy and Biden’s economic priorities

Post Politics Now: A big day for the economy and Biden’s economic priorities  The Washington PostView Full Coverage on Google News

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Today, President Biden plans to deliver remarks on the economy hours after the release of a report that showed the U.S. economy shrank again for a second straight quarter, fueling recession fears. It will be a chance for Biden to make a case for his economic agenda during an important stretch for his presidency and his party’s future.

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Meanwhile, the House is poised to pass legislation strongly backed by Biden that would provide $52 billion in subsidies to domestic semiconductor manufacturers and invest billions in science and technology innovation in a bid to strengthen U.S. competitiveness with China and other nations. And the Senate is now angling to pass next week a separate economic package blessed by Biden that aims to lower health-care costs, combat climate change and reduce the federal deficit.

Biden is also expected to talk Thursday with Chinese President Xi Jinping amid tension over a possible trip to Taiwan by House Speaker Nancy Pelosi (D-Calif.).

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  • 8:30 a.m. Eastern: The Bureau of Economic Analysis released a report showing the U.S. economy shrank at a 0.9 percent annualized rate in the second quarter.
  • 8:30 a.m. Eastern: Biden speaks with Xi. The White House says it will provide a readout afterward.
  • 11 a.m. Eastern: Pelosi holds a news conference on reproductive rights. Watch live here.
  • Noon Eastern: Biden delivers remarks on the Inflation Reduction Act of 2022. Watch live here.
  • 2:15 p.m. Eastern: Biden delivers remarks on the economy. Watch live here.
  • 3:15 p.m. Eastern: White House press secretary Karine Jean-Pierre briefs reporters. Watch live here.

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