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Good morning. Today is Friday, March 8th. I'm Julie Morgan.

President Biden lays out his economic March 8th, I'm Julie Morgan.

President Biden lays out his economic record in the state of the union.

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for an SEC violation.

President Biden used his State of the Union address Thursday night to tout his economic

record.

He said that in the last three years, 15 million new jobs were created under his watch and he added

that unemployment is at 50-year lows. The president also claimed responsibility

for 800,000 new manufacturing jobs that have been created.

While inflation has dominated headlines during a significant part of his presidency,

Biden claimed the inflation rate has declined from 9% to 3%.

Elsewhere in his speech, Biden touted the Chips and Science Act,

adding that private semiconductor companies are investing billions of dollars to build new chip factories here in America.

Regarding health care, the president said he wants to expand the number of drugs Medicare Part

D will negotiate with pharma companies over the next decade to 500.

Currently plans call for 10 starting in 2026.

He said his plan would lead to $200 billion in savings for enrollees.

Addressing tax rates for the wealthy, Biden is proposing a minimum tax rate of, quote,

just 25% on billionaires as he claimed they pay an average tax rate of 8.2%.

He said this would raise 500 billion dollars over the next decade.

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