US President <a href="https://www.cryptoknowmics.com/news/btc-jumps-above-38000-after-biden-addresses-russia-ukraine-crisis/">Biden</a> will address inflation during Tuesday's State of the Union speech, according to the <a href="https://www.cryptoknowmics.com/news/white-house-wants-crypto-rules-as-a-matter-of-national-security/">White House</a>, while outlining efforts to reduce prices for American families.

Biden will unveil a new four-pronged strategy to combat rising costs, which have dragged down his support ratings. As consumer frustration hits back at the White House, Democrats are terrified about losing their legislative majorities in this fall's midterm elections.

The four-point plan includes producing more goods in America and strengthening supply chains, lowering the cost of everyday expenses and reducing the deficit, promoting fair competition to lower prices, assisting small businesses and protecting consumers, and removing barriers to well-paying jobs, according to officials.

Biden would also shift language away from the broader Build Back Better package and focus on specific elements, an approach that has been a priority since the bill failed to clear the Senate in December due to a lack of support.

With significant aspects of Build Back Better, including tackling prescription drug costs, health care premiums, child care and pre-K expenses, and energy costs, the president will call on Congress to deliver him legislation that cuts the cost of working families and reduces the deficit.

https://twitter.com/DeItaone/status/1498403070971195394

Biden is scheduled to outline what he calls the industrial revival in his speech, praise corporations that are opening new facilities in the United States, and call on Congress to give him bipartisan competitiveness legislation.

He'll talk about the bipartisan infrastructure bill's particular aims, such as how states, territories, tribes, and local governments will use federal funds to begin improving 65,000 miles of roads and 1,500 bridges.

Over the next year, the Federal Aviation Administration will invest in more than 600 airport infrastructure projects, communities will invest in about 15,000 new buses, ferries, and subway cars, and the Environmental Protection Agency will work with governments to fund more than 400 new water projects, including replacing lead service lines.

He'll talk about how to stem the trend of corporate consolidation, as well as new initiatives to cut consumer prices in ocean transportation and crack down on dangerous nursing homes.

This includes a deal between the Justice Department and the Federal Maritime Commission to ensure that large ocean freight companies cannot exploit American businesses and consumers, as well as Department of Health and Human Services reforms to hold nursing homes accountable for the care they provide and increase transparency.

The president will also ask Congress to give him pro-labor legislation, such as the Protecting the Right to Organize Act and a measure raising the minimum wage to $15 an hour. He'll also urge Congress to approve the Paycheck Fairness Act, which aims to eliminate wage discrimination, as well as complete paid family and medical leave legislation.

Biden is set to speak about <a href="https://www.cryptoknowmics.com/news/numerous-leading-corporations-ban-russia/">Russia's</a> invasion of <a href="https://www.cryptoknowmics.com/news/impact-of-russia-ukraine-war-on-cryptocurrency-market/">Ukraine</a> and the sanctions imposed on Moscow by the US and its allies.

Biden to Focus on Lowering Costs in SOTU Amid Rising Inflation

President Biden will address inflation during Tuesday's State of the Union speech, according to the White House, while outlining efforts to reduce prices for American families.

Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.

Biden to Focus on Lowering Costs in SOTU Amid Rising Inflation

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