![]() I want to speak about the progress we’ve made not only in driving the climate benefits of the law – during a summer when Americans are feeling the harsh realities of climate change. This week, we mark one year since the President signed the IRA into law. It’s a historic law that Treasury plays the chief role in implementing. Then, I’ll turn to the clean energy provisions of the Inflation Reduction Act. I’ll first speak about the state of our economy. Today, I want to discuss what we have accomplished since last summer. President Biden has advanced a significant core of the modern supply-side agenda through the passage of these three generational laws. Unlike traditional supply-side economics, this approach cares not only about growth – but also creating a fairer and more sustainable economy. It focuses on how government can help spur long-term growth through investments on the supply side – such as in our workforce and its productivity. I outlined a framework called “modern supply-side economics” – an economic philosophy that animates much of Bidenomics. We had just completed the enactment of our trifecta of historic investments: the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act.ĭuring my speech last year, I also explained the principles that guided our economic agenda. Yet, we were still in the early stages of executing President Biden’s long-term economic agenda. An unprecedented pace of job creation had brought the U.S. At the time, we had just witnessed a historic economic recovery from the depths of the pandemic downturn. Just shy of a year ago, I delivered a major economic speech in Michigan that laid out the case for our Administration’s economic plan. What you are doing here in Vegas – and across the country – demonstrates every day how skilled workers are literally building our new economic future. If I’ve learned one lesson from my time in economics, it’s this: American workers are central to our nation’s economic progress. Since then, much of my life has been dedicated to creating an economy that lifts workers and families up, rather than weighing them down. I studied the labor market: how workers and companies interact, and when it works well and when it doesn’t. Many of you may not know that I began my career as a labor economist. And I’m grateful to everyone from the IBEW and building trades unions for your very warm welcome. ![]() I want to especially thank Lamar for your introduction and for your team’s hospitality. It’s great to be here in Las Vegas with all of you. ![]()
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