Hi, I'm Dan Pramak and welcome to Axios Recap.

Today's Thursday, July 9th.

The Dow finished down, temperatures in many parts of the country are up, and we're focused on Joe Biden's economic plan.

Former Vice President Biden today returned to his hometown of Scranton, Pennsylvania,

to give his first major speech on economic policy since becoming the Democratic Party's

presumptive presidential nominee.

This is the United States of America.

There's not a single thing, nothing, not a single thing.

We've ever failed to do when we've decided to do it together.

That's what this is about doing it together.

We have a great opportunity, build back and build back better.

Here are the broad strokes.

Biden's plan is focused on reviving and remaking America's manufacturing and innovation

sectors.

This includes $400 billion over four years to increase government purchasing of U.S. made

goods and services, plus another $300 billion in new research and development spending on U.S. tech efforts,

particularly for companies not based in Silicon Valley or other areas already awash in venture capital.

He also reiterated some of the primary pledges to roll back some Trump corporate tax cuts,

some other cuts on high earners, and to strengthen the power of unions.

Why it all matters is that we

are in the midst of the worst economic recession in generations and the next president, whoever it is,

will be charged with leading a turnaround, whether or not the pandemic is still with us.

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