Inflation relief checks by state, live online: Student loan forgiveness, 401k limit increases & SSA payment |

Biden to warn in Syracuse address that GOP will exacerbate inflation

President Biden will contrast his economic plan with the Republicans’ on Thursday, in a last-ditch effort to convince midterm voters that Democrats are best equipped to battle inflation and create jobs.

Biden will visit Syracuse, New York, where Micron Technology plans to invest up to $100 billion in computer chip manufacturing, part of tens of billions in new factory spending announced after Biden signed the CHIPS Act subsidizing the industry in August.

In Syracuse, Biden will tout efforts to bring manufacturing jobs back to upstate New York, and contrast those policies with what he has called Republicans’ “mega-‘MAGA’ trickle-down agenda.”

The slogan is a reference to Donald Trump’s “Make America Great Again” movement and the Republican former president’s emphasis on tax cuts that Democrats argued failed to “trickle down” to lower-income citizens.

Senior administration officials said that Biden will argue that the Republican economic plans benefit the wealthy and increase inflation. Earlier this week, he warned that Republicans would cause “chaos” in the world’s largest economy.

Some Republicans have pledged to use the US statutory borrowing limit or debt ceiling to force cuts to federal spending, extend Trump’s tax cuts, repeal Democrat-enacted laws lowering prescription drug prices and block Biden’s student debt relief plan.

(Reuters)