In Colorado, Biden Touts ‘Bidenomics,’ Criticizes Trump and Republicans

During his speech, the 46th president took aim at former President Trump, Congresswoman Boebert, and House Speaker Johnson.
In Colorado, Biden Touts ‘Bidenomics,’ Criticizes Trump and Republicans
President Joe Biden speaks about Bidenomics at CS Wind on Nov. 29, 2023 in Pueblo, Colo. (Michael Ciaglo/Getty Images)
Emel Akan
11/29/2023
Updated:
11/29/2023
0:00

President Joe Biden visited a wind tower manufacturing company in Colorado on Nov. 29 to highlight how his economic agenda, termed “Bidenomics,” is creating jobs and business investment in the state.

The president was in Pueblo to tour the Korean-owned CS Wind facility, the world’s largest wind tower manufacturer, which recently announced a $200 million expansion project. The expansion is expected to create at least 850 new jobs and double the facility’s production.

President Biden praised the Korean company during a speech at the factory.

“I am friends with your leader, Mr. Moon, you know,” President Biden remarked at the start of his speech, incorrectly referring to former South Korean President Moon Jae-in.

“When I took office, we set a goal to produce 100 percent carbon-free electricity by 2035. And because of my commitment to a clean energy future made in America, clean energy companies started investing here in Colorado,” the president said.

The new investment, according to the Biden administration, is a direct result of the passage of the Inflation Reduction Act (IRA) of 2022. The law aims to encourage investment in renewable energy by offering various tax breaks.

The wind tower factory in Pueblo is in Rep. Lauren Boebert’s (R-Colo.) congressional district. During his speech, President Biden called out the Republican congresswoman for her opposition to the IRA.

“She’s one of the leaders of this extreme MAGA movement. She, along with every single Republican colleague, voted against the law that made these investments and jobs possible,” President Biden said.

“And then she voted to repeal key parts of this law. And she called this law a massive failure.”

In mid-August, the Biden administration celebrated the first anniversary of the IRA.

Since the bill’s enactment, 280 renewable energy projects have been launched across 44 U.S. states, representing $282 billion in investment, according to a new report by Goldman Sachs.

In a statement, the White House criticized Ms. Boebert’s earlier comments regarding the IRA, which she has called “dangerous for America,” a “massive failure,” and “bad for Colorado’s Third District.”

The law provides tax advantages for the producers of solar and wind energy components, battery components, and critical minerals. It also establishes production tax credits for renewable and clean electricity, as well as power generated by qualifying nuclear facilities.

Other Republicans, including Senate Minority Leader Mitch McConnell (R-Ky.), have criticized the IRA, calling it a wasteful spending bill with no significant effect on climate change.

Some critics also argued that the law benefits foreign companies, especially those in China. Additionally, the law’s incentives for electric cars (EV) have faced opposition, not just from Republicans but also from Sen. Joe Manchin (D-W.Va.), who has expressed concerns about relying on EVs when China controls the supply of critical minerals needed for their production.

During his speech, President Biden also took aim at House Speaker Mike Johnson (R-La.), who recently visited Sarasota, Florida, with Rep. Vern Buchanan (R-Fla.) for a tour of the construction of a new terminal at the Sarasota-Bradenton International Airport and a fundraiser.

“Both the speaker and the congressman voted against the law and spoke against the law. But now they’re down there taking credit for it being built,” the president said. “Meanwhile, my predecessor wants to get rid of the Affordable Care Act.”

He went on to criticize Mr. Johnson, former President Donald Trump, and Republican lawmakers for protecting “outrageous tax cuts” for the rich and opposing investment in social programs.

President Biden also took aim at companies that raise prices.

“Let me be clear: any corporation that is not passing the savings on to consumers needs to stop the price gouging,” he said.

In response, Ms. Boebert posted on X, formerly known as Twitter, that Bidenomics is costing every American $11,000 more in expenses this year.

“If the Inflation Expansion Act was such a great policy, then why did every single Republican in the House of Representatives vote against it?” she wrote.

‘This wasn’t bipartisan leadership. This was Green New Deal extremism.”

Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the Biden administration. Prior to this role, she covered the economic policies of the Trump administration. Previously, she worked in the financial sector as an investment banker at JPMorgan. She graduated with a master’s degree in business administration from Georgetown University.
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