Biden Bits: “Investing in America Agenda”…

November 30, 2023 12:00 pm EST Tiff Biden Tweets (Open Thread) Comments Off on Biden Bits: “Investing in America Agenda”…
Biden Tweets Christmas Logo. Image by Lenny Ghoul.

It’s Thursday…

President Biden’s public schedule for 11/30/2023:

10:00 AMIn-Town Pool Call Time
In-Town Pool
1:00 PM
Press Briefing		Press Briefing by Press Secretary Karine Jean-Pierre
James S. Brady Press Briefing Room
2:30 PM
Bilateral Meeting		The President hosts a bilateral meeting with President João Manuel Gonçalves Lourenço of the Republic of Angola
Oval Office In-House Pool
6:00 PM
Attends a Tree Lighting		The President and The First Lady participate in the National Christmas Tree Lighting; The Vice President and The Second Gentleman attend
Pre-Credentialed Media

Press Briefing by Press Secretary Karine Jean-Pierre @1:00 p.m. D.C., time:

President Biden and the First Lady Participate in the National Christmas Tree Lighting @6:00 p.m. D.C., time:


Israel/Gaza/Hamas Tweet

From Wednesday…

From Thursday…

His full statement:

Today, 16 more people have been returned to their families after being held hostage by Hamas for more than 50 days. Among them, is Liat Beinin—a high school teacher, a guide at Israel’s Holocaust Museum Yad Vashem, and an American. Jill and I are deeply gratified that she will soon be reunited with her three children and her father, who have been wracked with worry for her safety. And we remain determined to secure the release of every person taken hostage by Hamas during its brutal terrorist assault on Israel on October 7, including Liat’s husband Aviv.

The deal to pause the fighting in Gaza and facilitate the release of hostages—a deal the United States worked intensively to secure, sustain, and extend—is now in its sixth day. This deal has delivered meaningful results. Nearly 100 hostages have been returned to their loved ones. And the United States has led the international community to use this pause to accelerate the delivery of additional humanitarian assistance into Gaza.  More than 200 trucks loaded with aid, including food, water, medicine, shelter supplies, fuel, and cooking gas, have entered Gaza each of the last few days. For the first time since this conflict began, aid reached northern Gaza. And yesterday, the United States airlifted more than 54,000 pounds of medical equipment and food aid to the humanitarian distribution center in Egypt—the first of three deliveries of critical supplies that will go to civilians in Gaza who need our help.

I thank Prime Minister Netanyahu of Israel, Amir Sheikh Tamim Bin Hamad Al-Thani of Qatar, and President Abdel Fattah Al-Sisi of Egypt for their continued partnership in this process and their ongoing commitment to bring every hostage home and to get more aid to the innocent people of Gaza. 

White House.gov. 11/29/2023.

He told the press:

I’ve got some very good news to report: Liat Beinin is safe in Egypt.  She’s crossed the border. 
 
I talked with her mother and father, and they’re very appreciative.  And things are moving well.  She’ll soon be home with her three children.
 
That’s all I have to say for right now.

White House.gov. 11/29/2023.

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“Bidenomics”/Investing in America Tweets

From Wednesday…

The YouTube is 26 minutes and 36 seconds long. The White House has not posted the transcript of his remarks at this time.

BEA.gov said yesterday:

[Snip]

Real gross domestic product (GDP) increased at an annual rate of 5.2 percent in the third quarter of 2023 (table 1), according to the “second” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.1 percent.

The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 4.9 percent. The update primarily reflected upward revisions to nonresidential fixed investment and state and local government spending that were partly offset by a downward revision to consumer spending. Imports, which are a subtraction in the calculation of GDP, were revised down (refer to “Updates to GDP”).

The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, residential fixed investment, and nonresidential fixed investment. Imports increased (table 2).

BEA.gov. 11/29/2023.

NBC News snip: President Joe Biden’s landmark climate law is driving outsized clean energy funding into low-income, less-educated and fossil fuel towns, according to a new analysis the Treasury Department released Wednesday.

From the Treasury Department:

11/29/2023:

Today, the U.S. Department of the Treasury published new analysis on the impact of the Inflation Reduction Act in driving clean energy investment to communities that have been underserved and at the forefront of fossil fuel production. 

In the analysis, Treasury economists observe that investments in Inflation Reduction Act-related sectors of the economy since the law passed grew especially quickly in energy communities—communities historically dependent on fossil energy jobs and tax revenues, including areas with closed coal mines or coal-fired power plants, as well as communities that have significant employment or local tax revenues from fossil fuels and higher than average unemployment. This initial data suggests the Inflation Reduction Act is achieving its goal of revitalizing communities at the forefront of fossil fuel production where potential exists, but opportunity has been scarce.

“President Biden’s Investing in America agenda and the Inflation Reduction Act are achieving their goals of revitalizing communities that have been overlooked and need public investment to unlock private capital. Treasury analysis shows that funding is going where it’s needed most across the country, not just to the coasts or to wealthy communities,” said Secretary of the Treasury Janet L. Yellen. “The American economy is more productive when communities can realize their full potential, and more than one year into implementation of the law, there is strong evidence that’s happening.”

The analysis also concluded that investments across all technologies supported by the Inflation Reduction Act have been largely landing in economically disadvantaged counties with below average wages, household incomes, employment rates, and college graduation rates. This analysis updates earlier studies from the Treasury with more granular data produced by the Massachusetts Institute of Technology and the Rhodium Group. 

Home.Treasury.Gov. 11/29/2023.
  • 81% of clean investment dollars announced since the Inflation Reduction Act passed have been for projects in counties with below-average weekly wages.
  • 86% of clean investment dollars since the Inflation Reduction Act passed are landing in counties with below-average college graduation rates.
  • 70% of clean investment dollars since the Inflation Reduction Act passed are in counties where a smaller share of the population is employed.
  • 78% of clean investment dollars since the Inflation Reduction Act passed are in counties with below-average median household incomes.
  • The share of clean investment dollars going to low-income counties rose from 68% to 78% when the Inflation Reduction Act passed. 

Treasury’s analysis shows that investments in the clean energy economy are disproportionately benefitting economically disadvantaged communities. This is a prime example of what Secretary Yellen calls “modern supply-side economics,” with economic research showing investments in communities like these have the highest “bang for the buck” by unlocking untapped opportunities.

Eric Van Nostrand, P.D.O. Assistant Secretary for Economic Policy and Matthew Ashenfarb, Research Economist in the Office of Climate & Energy  write, “Before the Inflation Reduction Act was signed in August 2022, announced bonus-eligible investment was about $2 billion per month in Energy Communities and $2.5 billion per month in the rest of the United States. After the IRA was signed, clean energy investment announcements increased to $5 billion per month in Energy Communities and about $4 billion per month in non-Energy Communities. Put simply, clean energy investment is booming throughout the United States, and investment is growing even faster in Energy Communities.”

Full text of the analysis is available here.

Home.Treasury.Gov. 11/29/2023.

From Thursday…

Inflation Reduction Act (08/16/2022).


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Member of the Free Press who is politically homeless and a political junkie.