Earners. That had been central to financing this package and talking to democrats, they are trying to figure out a way to get around that opposition, either to try to convince her to change her mind or perhaps look at other ways to raise revenue. I just caught up with a Chief Tax Writer about sinemas opsigss, and he said this. I think every democrat in the house and senate voted against the trump tax cuts. This is a chance to address it. So if you were against it, this is a chance to repair it. One of the most difficult issues here remains. We have still never seen a top line from the senate. Whats the number . And thats one of the frustrations from house members. How come they have not heard specific top line. How much Senate Democrats would ultimately be willing to support because all 50 Senate Democrats are not yet behind a single number. The house tried to propose this 3. 5 trillion plan which will be significantly scaled back. But despite these divisions theres optimism among the Democratic Leaders if they can get a topline overall agreement, an outline on this plan by the end of this week and that could pave the way for final House Passage on the separate Infrastructure Bill thats been waiting in the house for months. That 1. 2 trillion bill to pump in money for roads, bridges, broadband. But if theres agreement on the big bill, perhaps on the narrower bill but still a ways to go. Manu raju, thank you. My next guest says theres been enough talking and its time for democrats to get this done. Joining me live in studio, democratic senator Elizabeth Warren of massachusetts. Thank you for joining us. We dont have a full list of everything in the bill in this compromise but we have a topline run down. Take a look. Universal prek. A shortterm extension of the Child Tax Credit for a year instead of for more. Four weeks of paid leave instead of 12. Money for child care. Money for elder care. Expansion of medicare to include things like vision and hearing. We also know that tuitionfree Community College got the ax as well as the Clean Electricity power program. I know this isnt a bill that you would craft, but could you vote for this . So look, the devil always is in the details. And it depends on how robust the programs are that are being funded. And what the plans are on the substitute. So for example, think about it on climate. Climate change is the existential threat. We have got to move and weve got to move fast. The good news is theres not just one program in this package on Climate Change. There are multiple programs. Our goal is to bring down Carbon Emissions. Weve got a lot of different tools to do that. If we cant do one particular one because we cant get 15 people on board, were still looking for other ways that get us to the same point. And that is a sharp reduction in Carbon Emissions in the short run. And even an sharper reduction over a longer arc. So i hate to say it, but this is really where everybody is down. They have their Shirt Sleeves rolled up and going back and forth about the details. We can get you think we can get. Joe manchin and Kyrsten Sinema have been the holdouts. We just heard from manu that senator sinema, who has been saying this for months, has concerns about the way to pay for this. She does not want to raise the Corporate Tax, which has which was decreased a few years ago, before she came to the senate, i should add. And shes reluctant to raise the top level tax increase. I know those are popular provisions to raise taxes on wealthy people and corporations, but if shes reluctant to do so, how do you get there . How do you get her vote . Id like to be able to raise those rates. But take a look at my real corporate profits tax. This is not about raising the marginal rate at the top. This is about making 10 billion in profits and turning around and telling the irs, sorry, we made nothing and paying zero in taxes. So ive got a proposal. Its pretty straightforward that says for companies that make more than 100 million in profits, when they report that publicly, theyre going to have to pay at least 7 on their publicly reported profits. Thats not raising the marginal rate. You know how much money it raises . Over ten years that raises about 717 billion. So senator angus king and i have been fighting for this. This is a way to say our problem is partly about too low a rate at the top and, obviously, some democrats disagree. But i think all the democrats agree, by golly, everybody ought to be paying something. When you are making the kind of profits that amazon and other companies are making, 55 Companies Make more than A Billion Dollars in profits and pay nothing in taxes, thats not right. We can stop that and fund a lot of this plan. With all due respect, you dont need to tell me but you need to tell Kyrsten Sinema. And also if it were that simple, why hasnt it been done . Because corporate interests are so powerful . Yeah, come on. Youre surprised . No, im not, but have you talked to Kyrsten Sinema about this because thats who you need to get nodding in agreement. Im feeling good about this provision because its a good provision. And im also feeling good about it because the lobbyists are totally freaking out about it which tells me theyre worried its really about to happen. So senator king and i have been talking to all of our colleagues. And so far, we havent got much pushback on it. 717 billion. Senator warren, stick around. I have more questions for you. We have a lot to discuss, including her feelings on why Jerome Powell needs to go and why she calls amazon a monster. Stay with us. This is how it feels to have a dedicated fidelity advisor looking at your full financial picture. 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President biden has not yet made a decision public, but if he reappoints powell, will you fight it . Will you filibuster it . I will oppose it and ill use the tools ive got. Look, heres the problem. We need a fed chair who does two things. Good on monetary policy, when it raise Interest Rates and so on, and also good on regulation of the giant financial institutions. Remember the ones that brought down our entire system. Yeah, i recall. Back in 2008. And chair powell on regulation, i asked him literally when he came through when he was nominated for chair by donald trump, is there a single regulation in all the regulations that have been put out there, and these banks have grown and theyve gotten bigger and taken on more activities. Single regulation, you might want to tighten just a little bit. And his answer was, no, cant think of a one. In the time hes been chair, he has consistently just weakened a regulation here and weakened one there. Its not huge, but, a, it adds up over time and, b, i dont want to make another fiveyear bet on someone whose entire attitude is that he is not going to work to rein in the giant financial institutions. Thats what went wrong in 2008. Thats how i ended up in washington. Im not going to go through this again if i can help it. We need a fed chair who takes seriously the responsibility to stand up to the big banks. You are planning to reintroduce your bill targeting private equity firm practices. Called the stop wall street looting act. The idea they buy a struggling or underperforming company, make big changes in it to make it profitable, sometimes it works. Sometimes it doesnt. You say the workers pay the ultimate price. Critics say your bill will discourage Small Business investment. How do you respond . They dont invest in order to make them more profitable. Some private equity does. The one i want to stop is when they come in just to suck all the value out of these companies because this touches the lives of every single american. Let me give you one example. The Nursing Home Industry has been invaded by private equity and weve now collected data. You know what it shows . It shows that once private equity takes over a nursing home, that Nursing Homes death rate goes up by 10 and its costs go up by 10 . Thats not helping patients. Its not helping employees. Its not helping communities. So what im asking for is, lets just get some curbs on private equity. So, for example, they have to disclose their fees. Investors can tell what they are doing. Or the second one, they have to wait two years before they apply a Vacuum Cleaner to every bit of value that that company has. They have to stop the tricks. If you sell off the real estate and pay yourself the private equity thats running this, and then turn around and make the business now have to rent that same real estate. There are a lot of tricks in how they do this but theyre sucking value out and theyre doing it not only in Nursing Homes and hospitals, theyre doing it in mobile home parks. Theyre doing it in retail stores. Theyre doing it in forprofit colleges. Lots of places, lots of consumers really get hurt. We need some curbs. We just in the previous hour covered facebook and some of the trouble theyre in and also their plan apparently to rebrand. Theyre going to change their name next week to focus on the, quote, metaverse. Whats your take on the pending name change . I think going into the Witness Protection Program . What is should they . Its not going to change the underlying facts. And the underlying facts that we need to break up facebook. Come on. They are a monopoly. How do you break it up . You remove instagram, make it a separate company . For opener. Tell them they cant keep eating all of the little businesses that come along. They have engaged in practices just like the classic mon op lift. They either buy up or stomp out any competition. Right now when theyre selling ads, facebook is playing both sides of the game. You have to go to a Facebook Company to buy ads where, on facebook, because they are everywhere, and facebook is the seller and sets the price for those ads. This is just one of those where they have figured out multiple ways to be able to suck more value out of the economy. I believe in markets, but markets require competition. When youve got a giant mon op lift like this, you break them into pieces. Thats lots of different pieces that can offer different versions of a product. And when you break them off, you still ought to be able to reach each other. You may not use the same Phone Company i do. But i can telephone you. Like now on facebook, everybody has to be on facebook to see what your aunt is up to and your old roommates from school and so on. What we do is we just break them apart and then lets see a Little Market competition. I wanted to ask you because the commonwealth of massachusetts is part of this massive settlement with purdue pharma. Thats the manufacturer of oxycontin. Under the terms of this agreement, the Sackler Family, which owned a much of and ran purdue pharma, they will pay out more than 4 billion, the company will, purdue, including some 90 million for massachusetts. In exchange, as part of this deal, there are a lot of moving parts, but in exchange, the sacklers personally will get immunity from any future lawsuits. I wonder if you think the commonwealth of massachusetts is doing the right thing by entering into this agreement. I have no doubt that in entering into this agreement they are looking at the landscape of laws and how much they think they would be able to get from the sacklers if they pursue them. Particularly given that this is not the only place that the sacklers are getting protection. As you know, purdue pharma, the company, has gone into bankruptcy. And at least right now, the Bankruptcy Judge in that case, who has been carefully chosen by the company, has been evidently quite receptive to the notion that the Sackler Family, without going into bankruptcy, should be able to buy protection for itself. Now that is fundamentally wrong in my view. Im not at all clear that the law permits it, and if it does permit it, im clear that the law should be changed. If the Sackler Family wants to be immune from the deeds that they have been engaged in, then they need to go through bankruptcy, and that means they got to fess up to everything that they have done and to how much money they made and how much money they have right now. And they have got to be willing to turn that money over to the people that they injured. That is justice. And i believe we need justice, the kind that everyone else gets. The sacklers should not be able to buy their way out of this just because they made billions of dollars by hurting so many people across this country. Senator Elizabeth Warren, thank you so much for your time today. We really appreciate it. President biden expected to speak any minute. A critical moment for his agenda. Well bring it to you live. How a u. S. Intelligence officer started cold calling top american generals to get his family out of afghanistan. It was a complicated escape. Well bring you the story, next. 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The call is free, and theres no obligation. You know medicare wont cover all your medical costs, so call now. And see why a Medicare Supplement plan from a company like humana just might be the answer. Tonight, ill be eating Lobster Ravioli with shaved truffles. Yes you look amazing no, you look amazing thank you thank you thank you thank you thank you thank you haha, youre welcome. Unconventional thinking means we see things differently, so you can focus on what matters most. Thats how weve become the leader in 5g and a partner who delivers exceptional customer support, and 5g included in every plan, so you get it all. Welcome back. Any moment were expecting joe biden to speak in scranton, pa, pitching his scaled back plan to expand the social safety net and combat Climate Change. What are we expecting to hear from the president . Well, hes in a bit of a position here, jake, where he is going to be selling a bill thats shrunk since the last time he was on the road selling this proposal he laid out over the summer, what he wanted it to look like. This week weve just seen how much the bill has been scaled back or pared back and some programs the president wanted inside this bill have been cut entirely. Thats not been confirmed by the white house but weve heard from multiple sources that one of the president s favorite proposals here, which was offering the two years of free Community College is no longer going to be in this plan. That is something that back in july when he was talking about what this bill would look like when it made its way through congress was a highlight of his. So its going to be a situation where the president is out here talking about a bill but also in more realistic terms because now they are in the nittygritty part of the negotiations hoping to get to an agreement by friday. But we know that even as they say theres Progress Being made on certain provisions of this bill, that they say it can still fit the scope of the plans theyd like to see put in this social safety net and Climate Change package. There are other aspects at play that are still very much under way. Including how to pay for this because we know that we have heard from sources that senator sinema, as of today, is still opposed to raising the Corporate Tax rate. We know that was a chief proposal from the white house and from some key democrats that they wanted to use to pay for this plan. To raise that Corporate Tax rate up to 28 , effectively undoing some of those trump tax cuts that had been put in place, of course, when the former president was in office. So thats really whats facing the president when he comes out here today in his hometown in scranton, pennsylvania, talking about what he wants this bill to look like. What it can still do while also acknowledging the realities of compromise because you heard the White House Press secretary jen psaki telling reporters on Air Force One on the way here that President Biden is not going to get everything he wants in this bill. Neither is the House Speaker nancy pelosi or other democrats. They say its part of the compromise, part of the negotiation. They are still working to finalize what exactly this bill is going to look like. Talk about compromise. First Lady Jill Biden is a Community College professor. Thats got to sting, not just professionally but at home as well. Well come back to you as we await the president. Lawmakers are one step closer to Holding Steve Bannon in Criminal Contempt Of Congress for defying a subpoena. Today the Rules Committee In The House advanced the resolution. Now the full house will get their say tomorrow. Lets discuss. A lot to talk about. Bill, let me start with you on this Criminal Contempt Of Congress vote. Steve scalise, the House Republican whip, is telling republicans to vote no on referring this Criminal Contempt Of Congress charge to the Justice Department for steve bannon. One thing for republicans to line up behind trump, but to line up behind steve bannon who really is i mean, im just kind of amazed, but are you . I think i lost my amazement to the Current Republican Party some time ago. Good you retained yours. More of a hopeful disposition than i do. Will there be any republican votes for this which is a routine vote normally, if the Committee Says this is if hes explicitly and obviously defying a lawful subpoena of a house committee. Will there be any votes beyond liz cheney and Adam Kinzinger who joined the committee and were part of the unanimous vote to have the subpoena. And it would be amazing. 2082 to not subpoena. Let Steve Bannon Defy a lawful subpoena. Thats todays republican party. Take a listen to liz cheney, one of the two republicans on the january 6th committee, trying to appeal to her fellow republicans in this rules Committee Meeting on why they need to vote to hold steve bannon in Criminal Contempt Of Congress. I have heard from a number of my colleagues in the last several days who say they, quote, just dont want this target on their back. Theyre just trying to keep their heads down. They dont want to anger kevin mccarthy. I urge you to do what you know is right, to think of the long arc of history. Will you be able to say you did Everything Possible to ensure americans got the truth about those events . Or did you look away . Did you make partisan excuses and accept the unacceptable . I think i know how theyre going to answer. What do you think . Trying to appeal to the consciences of a house caucus, twothirds of whom voted to overturn the election in terms of the electoral votes in pennsylvania and arizona, will that work . I dont think it will work but i still think she should try. So, you never know. Some day maybe somebody actually will be moved by something that somebody is saying and i think shes acting like a leader which is not what they are doing. So leaders are supposed to represent the will of the people but theyre also supposed to lead, hence being called leaders. So sometimes that means Making Decisions that people dont like because they are very partisan and they want you to do something because they like, for example, donald trump. And you have to stand up against them. So the idea that people would make always just make the decision because they want to keep their seat and they dont want to upset donald trump and they dont want to upset kevin mccarthy. Thats just not leadership. I think theyre not lining up behind bannon. Theyre lining up behind trump and bannon is the proxy for trump bannon is refusing to talk because he obviously has something to say that would be interesting to them. And what would be interesting is what he and trump talked about. Just to remind our viewers. This is about the attack on the Capitol On January 6th in which people died which led to the loss of life in subsequent days of police officers, either dying by suicide or other ways. An attack on their own workplace. And if you listen to things steve bannon said before january 6th, he sounded like he had an idea of what was going to happen. Yeah, no, absolutely, if you look at a story my colleague wrote today. He also highlights some of the comments that steve bannon was saying on his podcast in the days before january 6th. Thats what this investigation is about. Part of it is about finding out what was said at the highest levels of the government, including the president who he was speaking to, what he was doing on that day, in the days before. But what were seeing here in terms of somewhat the Road Blocking going on here, by the gop, is an effort where they are prioritizing the political ramifications of this investigation going on. An attempt to detach the party from the ongoing conversation about january 6th. The problem is it seems that accountability and a level of oversight seems to be taking a back seat to that political priority. How do you think these people, these House Republicans would be feeling if this was any other group of people that had attacked the capitol for any other political reason . Right. And i think thats the big question because in addition to what was said, this isnt while Republican Leaders and trump himself are trying to make this a Proxy Loyalty Vote for the former president. This is also fundamentally a question about Congressional Oversight as well. We see over the last years just how effectively neutered Congressional Oversight has become. But this is about if you defy a lawful subpoena from the United States congress, shouldnt you be held accountable, punished for that . And youll have some republicans, obviously, those on the January 6th Commission, maybe a couple of others side with the democrats on that question, but at the end of the day, republicans are going to line up behind donald trump. If this was another sort of political ideology or another kind of motivation for overrunning the capitol like these people did on january 6th, they may have a different answer. My sixth grader had a test on the constitution. I was going over it with him. And its written right there, checks and balances. The Lifting Branch is supposed to keep the Executive Branch in check. Thats how and vice versa. Thats how it works. And it doesnt work if people refuse to accept the responsibility. Like youre talking about. Right. You have seen how in terms of strategy how the during, for example, during the first Impeachment Trial how the thentrump white house dragged out this process so time was effectively on their side in trying to kill a lot of these investigation. Thats partly why you see members of the January 6th Commission moving so much more expeditiously actually trying to hold these people accountable because i think theres a broad acknowledgment that this investigation may shut down on january 3rd, 2023, if republicans do with a good chance they have of taking over control of the house again. Theyre frying to move while time is on their side. And thats exactly right. Members of the committee are completely aware that House Republicans will probably, if history is any guide, recapture the house and kill an investigation into an attack on their own workplace. That mob was going to kill anybody. They didnt they werent you saw video of mitt romney running for his life. Some of the people who downplayed the attack were hiding for their lives. Democrats will get the report out before the next congress, i think, but as a result, the stalling by someone sorry. Your friend from scranton is speaking right now. Hello, hello, hello. Its good to be home. Thank you all. Please be seated. I just want you to know, we have a tradition in the biden family. When you see a relative, you go see them first. These are my relatives in the front row. And spent an awful lot of time across from st. Pauls church at my uncle jack finnegans house. His daughters are here. And he was he taught up at the u. And i just want you to know that amtrak is here. They can tell you that you can you should name half the line after me. I am the most railroad guy youll ever meet. 2,100,000 miles on amtrak. Hear me now . Not a joke. What happened was, when you are a president or Vice President , they keep meticulous mileage of when you fly on air force aircraft. So about, i guess it was seven years in to my tenure as Vice President , and i used to always like to take amtrak home on friday. I try to go home and see my mom who was living with us at the time after my dad passed, and i tried to get home. And the Secret Service are wonderful. They are the best in the world. They never liked me taking amtrak because it stops too often and too many people can get on and you dont know. But i it turned out i was about number three in seniority on the road at the time, if you in terms of actual time on the road. And a lot of the folks at amtrak became my family. Not a joke. Id ride every day. I commuted every single day for 36 years as Vice President of the United States after my wife and daughter were killed. I went home to see my family. Never stopped going and doing that. And angelo was from you remember ange . Came up to me one day when they just had announced that i had flown 1 million x number of miles on air force aircraft. And ange comes up and he goes, joey, baby, what are you i thought the Secret Service was going to shoot him. I said no, no, hes good. True story. And he said, i just read big deal. Big deal, whatever was a million 200,000 miles air force. You know how many miles you did amtrak . I said, no, i dont have any idea. He said let me tell you. We were at the Retirement Dinner and we added it up. You averaged i think he said 21 days a year. 121 days a year. 36 years. Plus, as Vice President , boom, boom. You have traveled over 2 million miles. I dont want to hear any more about the air force. But in the build back better plan, i got more money for Passenger Rail than the entire amtrak system cost to begin with. Were going to chaunge the natin in a big way. Change. I want to thank you for that introduction. I really do. And madam mayor page, youve done a great job. I really mean it. Im a big fan. And i when i got elected, this is the gods truth, when i checked on what the margin was in the state of delaware, i called up here. She won that year, too. And i found out that i won every precinct in scranton and looked up and said, mom, i did it. I did it. Look its great to be here. Its great to be here in pennsylvania with a very close friend, become a close friend and a great governor, governor wolf. And matt, thank you for the passport to let me back into the district. And you know, we its interesting. I grew up not very far from the senator where he grew up. If you add it up, i think about five blocks, six blocks. And his dad and i were about 18 years apart and were 17 years apart. So its like a continuum going down here. But i just want you to know, we went to the same schools, same parish. Just a few years apart. Give a few give or take a few years. And scranton is where i played shortstop with the Little League in the first year it was put up. My dad helped build the field down there. And spent a lot of time at simmys Buying Penny Candy and hanks On Wood Street watching movies on the weekend and trying to reenact all they did. And when you watch those movies. I think i was told, i dont know if its true, i was the only kid in my era that i was able to walk across the pipe that was just above the lackey. If you fell in the lackey, you were in trouble. At any rate look, no matter how long you live here in scranton, its a place that climbs into your heart and it never really leaves you. And thats the gods truth. Its like that old saying goes. You can take the boy out of scranton but cant take scranton out of the boy. Something special about it. And i believe home is where your character is etched. And i really mean that. Some of you have heard me say this before. Its where you your view of the world begins and where you began and where it takes shape. And that happened to me in 2446 North Washington avenue. We used to come back after 10 30 mass at st. Pauls, st. Clares wasnt built until i had moved, at st. Pauls, and my grandfather would hold court back in those days all the men had breakfast in the kitchen. My mom was one of four children. And a guy who was the chief political reporter at the newspaper, Tommy Phillips who lived a street behind us, a good friend of my grandfathers. And all the women would go in the dining room and on the Lace Table Cloth have tea and men would, in fact, have a big breakfast. And if you are a kid, a young boy, you could sort of Wander Around the table. You could never sit at the table. So i used to every once in a while walk in and just sort of Wander Around. Id stand by my grandpop. And i put my hand on his shoulder and they talked about everything from sports and politics and thats where i learned an awful lot at that Kitchen Table. I learned from my grandpop that money doesnt determine your worth. I learned he told me, and thats not a joke. Those of you who know me, know it to be true is that no one in the world is more worthy than you, but everyone is your equal. Everybody is your equal. My mom would remind me. She said, joey, this is the gods truth. Remember you are defined by your courage and you are redeemed by your loyalty. Defined by your courage and redeemed by your loyalty. And my dad, when things got tough in scranton, after the war, when there wasnt any work, my dad did not work in the coal mines. My great grand father was a mining engineer. My dad was in sales and worked for a Trucking Company and things got slow in scranton. So we moved. I remember the day he came. I think the longest walk a parent can make it up a short flight of stairs to tell your kid you cant live here anymore. We cant because dad or mom doesnt have a job. And my dad had moved from wilmington, delaware, to skrantson when he was a junior in high school. He went to what was called st. Thomas. Not the prep. St. Thomas in those days. And i remember him walking up and entering the bedroom and saying, honey, im going to dads going to have to move. But its going to probably take about a year. Ill come home every weekend. Its only 155 miles. I thought that was like 600 miles away. Come home every weekend. And when we get enough money im going to bring you and mom and everyone down to wilmington. Youll like it. And i thought that was like, you know, an awful lot of parents who left scranton back in those days who moved away. Had to move away. And, you know, i gain so much respect for my father as i got older because i thought about how much it must have hurt him and the pride to walk into my grandfathers pantry and say, can i leave jean and the kids with you . I promise ill make it up to you. Ill be back every weekend. But i promise ill make it up. Thats a hard thing for a proud man or woman to do. But so many had to do it. And i remember when we moved down to delaware and my dad would say, joey, and all my friends know this. Literally this phrase. Youve heard them say it how many times. Joey, a job is about a lot more than a paycheck. Its about your dignity. Its about respect. Its about being able to look a kid in the eye and say its going to be okay and think about it. Think about what it is. It means a lot more than just whether you get a paycheck. It defines who you are in his mind. And i learned that at the Kitchen Table in scranton, a place where you take care of one another. And as i said, my mother i used to stutter badly when i was a kid. If my old friends were here, at st. Pauls, my nickname was blackbird. Bye, bye, bye, blackbird, wasnt meant as a compliment. I wasnt very big. You could beat me, but id hurt you. You think im kidding, im not. But, you know, its one of those things that i was fortunate because the people i was surrounded by, our neighbors in scranton as well, that people people stuck up for you. Stuck up for one another. My mother used to say and i never quite understand. Remember, joey, look at me, joey. Youre a biden. You are i swear to god. Youre a biden. Nobody is better than you. And everybody is equal to you. Nobody. The point im making is the truth is scranton isnt my home because of the memories it gave me. Its my home because of the values it gave me. So when i ran for president , i came back to scranton. I came back to scranton. I started here in scranton. And i resolved to bring scranton values to bear, to make fundamental shift in how our economy works for working people. To build the economy from the ground up and the middle out. Not from the top down. Ive never known a time when the middle class has done well and the wealthy have not done very, very well. Im here to talk about whats fundamentally at stake for the families and for our country. For most of the 20th century we led the world by a significant margin because we invested in our people. We invested in ourselves. Not only in our roads and highways and bridges but in our people and our families. We didnt just build interstate highway system. We built a highway to the sky. To outer space. We were also we invested to win the space race and we won. Were also among the first to provide access to Free Education beginning back in the late 1800s, early 1900s. We invested in our children. Does anybody think today for making the decision today for the first time wed say 12 years is enough in the 21st century . 12 years enough is not. Back in the day it was. Its a reason we leapt ahead of the rest of the world. Not a joke. Became among the best educated countries in the world. But somewhere along the way, we stopped investing in ourselves. America is still the largest economy in the world. Still have the most productive workers in the world, most Innovative Minds but we risk losing our edge as a nation. Our infrastructure used to be the best in the world. Not a joke. The best in the world. Today, according to the World Economic forum, we rank 13th in the world in terms of infrastructure. Our roads, bridges, highways, the whole works. 13th in the world. We used to lead the world in educational achievement. Today, the organization for Economic Cooperation and development in europe ranks america 35 out of 37 major countries when it comes to investing in Early Childhood education. And talk about an equalizer. The greatest equalizer in the world, the great universities have done studies the last 15 years. You give a kid no matter what their backgrond from a broken home, a home where mom or dad didnt go to school or whatever, and you put nem school, grade you increase school, not day care. You increase by 56 the chance theyll complete 12 years of school and build confidence. Whats education all about . Its about Building Confidence in a child. Its about giving the tools to do something. We cant be competitive in the 21st century economy if we continue to slide the way we have. Thats why i resolved that we have to once again build america from the bottom up and the middle out. Again, not the top down. Im a capitalist. I think if you can be a millionaire or billionaire, fine. Just do your fair share. Just do your fair share. Trickledown economics has always failed. It hasnt built this country. You know who built this country. Like the young man who just introduced me. Union people. People who, in fact, can make a decent hard wage. Build a country. Its not hyperbole. I mean it from the bottom of my heart. Thats who i propose two critical pieces of legislation that are being debated back in washington. There are some really Smart National press with me today and they have understandably believed that theres no possibility of my getting this done. This has been declared dead on arrival from the moment i introduced it. But i think were going to surprise them because i think people are beginning to figure out whats at stake. When i use the phrase build back better as being used internationally now. I got the g7, the largest countries in the world, to agree that well have a build back better world. And were going to invest and were going to build around the world the democracies and abilities of the rest of the countries so they dont fall prey to those like the belt and Road Initiative out of china and other initiatives where theres, ill do something for you if you give me. If you give me. Folks, look. These bills are not about left versus right or about moderate versus progressive. Or anything that pits one american against another. These bills are about Competitiveness Versus complacency. About expanding opportunity, not having opportunity denied. They are about leading the world and continuing to let the world or let it pass us by. And by the way, they will not increase one single penny of the deficit. They are fully paid for. And all Wall Street Points out they will grow employment by Tens Of Thousands of people. Tens of thousands of people. 17 Nobel Laureates spontaneously, Nobel Laureates in the economy sent me a letter three weeks ago saying well also reduce, not increase inflation heres what these initiatives are all about. First the Infrastructure Bill. When i say infrastructure back home, people look like, infrastructure . What the hell you talking about, joe . They know infrastructure generically. But its about rebuilding the arteries of our economy. Thats what its about. Across this country right now, there are 45,000 bridges, according to society of engineers. 45,000. A significant portion are ready to fall fall fall into the water, into the gap that they cover. There are 173 miles of roads in Poor Condition that have to be built up. Including more than 3,300 bridges and over 7,500 miles of highways here in the state of pennsylvania that need to be repaired and built. Increase timing and commerce. Were going to put hardworking americans on the job to bring our infrastructure up to speed. Good union jobs. Not 7 an hour or 15 an you can look at your family with pride. Jobs that cant be outsourced. Jobs replacing lead water pipes like you have here in the scranton area. Kids getting brain damage because of the ingestion of lead. Clean water all across america. Were going to replace every lead pipe in the nation. Again, creating jobs, but doing more than that. Increasing the health and wellbeing of our children. 44,000 schools are in a position where you have lead pipes. You have to wonder about it. And building a modern energy grid. Folks, were in a situation now where you see whats happening. I have flown all over this country you realize more of our land has been burned to the ground burned to the ground in the west and the northwest than the entire state of new jersey. Every sing the square mile in new jersey, more has been burned down this year this year in the west because of the Climate Change and because of Electric Utilities failing, wires falling. We know if we can put these wires underground, we expect exponentially the service, but it costs a lot of money. We have to do it. We know that we in fact allow people to store we have this incredible energy. I visited one of the largest solar fields in america. Its in the southwest. Guess what . You can transmit all that energy, enough to really light up half of the state of nevada, but guess what . How do you transmit it . What lines do you put it over . Do we have the capacity to do that . We have the engineering capacity, but do we have the will to do it . Imagine what that does. You realize we had 90 billion in loss this calendar year because of natural disasters . 90 billion. Jobs, making sure theres a highspeed internet, affordable and available anywhere, anywhere in america, including for nearly one in six families who go without internet. You saw whats happened when weve had this covid. Try teaching from home. How many people did you see out in mcdonalds parking lots with their kids in their cars, because they get action access to the internet, to be able to help the kids in school . What are we doing . This is the United States of america, damn it. What are we doing . Both of these bills will help create the moment on the climate crisis, that creates good jobs and makeses more competitive. 66 billion in passenger and freight rail. Why do i talk about rail . You realize the chinese are building another highspeed rail line going up to 300 miles an hour . You say, what difference does that make, biden . If you can go from here to washington and much faster than an automobile, you take a train. The take the train. We will take literally millions of automobiles off the road. Off the road, saving tens of millions of barrels of oil. Dealing with cleaning up the air. This is not hyperbole. This is a fact. These are facts. Right now, when i went out to silicon valley, they said were in a situation where if you put more panels on your roof, guess what . When the sun is not shining, youre in trouble, except they have now Battery Technology you can have batteries in your basement about the size of the width of this podium and about that thick that can keep you going for seven days. So what do we have in this legislation . We have 39 billion to modernize american transit. I remember riding the trolley. I lived tess end of the line, as they say, in greenwich, three blocks, the end of the line. Beloaned the end of the line was the dump and a Little League baseball field i played in was down at the bottom of the hill. It was made to work. The vast majority of working people live in cities, their jobs are out of town, no longer in town. No longer in town. But 65 do not own an automobile. They live in a black or hispanic or poor neighborhood. All the time they waste trying to get to work. Look, more than 7 billion to build out the National Network of electric vehicle charging stations. The way my grandpop got up here, who died at Mercy Hospital of an aneurysm two week before i was born, he was with the american oil company. He was opening up gas stations in 19 thats how he got here. This was 1942, late 42. Well, guess what . The same thing happens. We build these charging stations, what happens . Communities build up around them. You get everything from the figurative mcdonalds or dunking doughnuts to the drugstore. 21 billion for Environment Cleanup and remediation. Look, it means putting people to work in good jobs, prevailing wages, capping hundreds of thousands of abandoned wells in southeastern pennsylvania and ohio. You get the same salary you paid the mineworker to dig the well. Theyve got to be capped. We have thousand that is need to be capped. In addition to that, we have met a methane leaks. It increasing the health of the community. We invest in clean energy, including tax credits for people who winterize their homes, install solar panels, develop clean energy products, Help Business Product more clean energy. Its real, i promise you. I wont be around to see it, but i promise you, your kids are going to see a time when theyre not in fact generating any energy from the homes here in scranton, other than renewable energy. Not a joke. By the way, one of the things the president put me in charge of i want to be clear here, president obama put me in charge of, i was ability to invest in that legislature. We brought down the price of solar and wind cheaper than coal and cheaper than oil. On a btu basis. Its cheaper. Coal built this town in this part of the country, but weve got to provide other avenues for people to make the same kind of living they used to be able to make. Look, all told, i just said this project is going to save literally hundreds of millions of barrels of oil annually, but folks here in pennsylvania knows the cost of inaction when it comes to Climate Change. Extreme conditions cost 99 billion last year. I flew all over this country to see it, see reservoirs that are down 60, 80 feet, concerned about the colorado river, whether or not were going to be able to keep things moving. Not a joke, its real. This is serious stuff. So, you know, its not going to ease up on its own. We have to invest in our resilience, building roads higher. When i say build back better, were the only country in the world historically thats gone through a crisis and come out at the end better than the time the crisis hit. Thats who we are. Think about it. We come out better than it was before. We dont give up. We invest. We trust our instincts. So thats what im talking about. You know, we need stronger levees, stronger power grids, more durable, every top Withincreasing Ferocity of weather. Any road you used to be, you have a catastrophe, you build it back. You cant build it back to the same standard. You have to build the back higher, not a jock, because the weather has already changed. If we dont do something before we reach 1. 5 degrees celsius, were in trouble. Look, we havent passed a major Infrastructure Bill for decades in this country. The last four years you hear every month is infrastructure month. Didnt do a ding the damn thing. Nothing. I mean, nothing, for four year. We cant afford to sit while other countries pass us by. Were going to breathe new life into our workforce. These jobs that were going to create for people were too often left out and left behind. The vast majority of the jobs in my bill dont require a fouryears degree. 98 dont require a fouryear degree, but its the ultimate blue collar, middle class renewal. Real, serious work that neither to get done. It isnt enough to invest in our physical infrastructure. We also have to invest in our people, which we always did. We invested in our people. Thats why the second bill i