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Democratic presidential nominee Joe Biden arrives at Detroit Metro Wayne County Airport on Wednesday.
AFP via Getty Images
Joe Biden on Wednesday is due to give a speech in Michigan about what his campaign described as “his plan to ensure the future is Made in America by all of America’s workers,” as the Democratic presidential nominee continues an effort to counter President Donald Trump’s “America First” stance.
Ahead of his address in Warren, Mich., the Biden campaign rolled out a “Made in America” tax policy, with features such as a new offshoring tax penalty, a 10% tax credit for companies making investments to create jobs for American workers, and a 21% minimum tax on all foreign earnings.
The Democratic challenger also promised executive actions in his first week as president that “ensure the federal government is delivering on its obligation to use taxpayer dollars to buy American products and support American supply chains.”
Biden has talked up domestic manufacturing before, such as with his July proposal of a $700 billion “Buy American” campaign.
The Trump campaign attacked Biden’s latest moves before the Democratic challenger’s speech, which was slated to come around 1:15 p.m. Eastern Time.
“It’s fascinating to me that Joe Biden is suddenly trying to masquerade as an economic nationalist,” Steve Cortes, a senior adviser for Trump’s re-election campaign, told reporters during a conference call on Wednesday. “Welcome to the party, but unfortunately you have no credibility, because you’ve been acting in exactly the other direction for nearly a half century.”
The Trump team often has criticized Biden for his 1994 vote as a U.S. senator for the North American Free Trade Agreement, or Nafta, which now has been replaced by the U.S.-Mexico-Canada Agreement, or USMCA.
Meanwhile, a United Auto Workers branch in Flint, Mich., representing General Motors GM, -0.51% employees praised Biden ahead of his visit to their state, saying in a video that he “had their backs” amid the 2008 auto bailout.
In a RealClearPolitics moving average of polls focused on top swing states that are likely to decide the election, Biden on Wednesday had an edge of 3.8 percentage points over Trump. Betting markets were giving the former vice president a 52.7% chance of winning vs. Trump’s 46.7%.
The S&P 500 index SPX, +2.30% and the Dow Jones Industrial Average DJIA, +2.27% were recently trading higher on Wednesday, rebounding after a three-day selloff led by the tech sector.
