Talking in Warren, Michigan, Biden pointed particularly to Trump’s guarantees on a go to to Warren within the remaining days of the 2016 marketing campaign, saying: “If I’m elected, you gained’t lose one plant. You’ll have crops coming into this nation. You’re going to have jobs once more. You gained’t lose one plant. I promise you. I promise you.”
However a GM transmission plant in Warren closed simply final yr, a part of a lack of auto jobs in Michigan that Biden cited as proof of Trump’s damaged guarantees on jobs. Biden additionally pointed to a rise in offshoring of producing by federal contractors—and he supplied a coverage to reply.
Biden is proposing “a tax penalty on corporations that offshore jobs and manufacturing to keep away from paying U.S. taxes solely to promote their items again to American prospects,” a ten% offshoring penalty surcharge that may be added to the highest company tax charge. To reward corporations that do the precise factor along with punishing people who do the mistaken factor, Biden is proposing a ten% “Made in America” tax credit score.
”So, if your organization revitalizes a closed or closing facility right here in the USA—like that transmission plant that closed final yr—we’ll care for 10 p.c of the funding,” Biden stated. “In case you retool your manufacturing facility to make it extra aggressive—for instance, shifting to assist construct a brand new fleet of fresh American automobiles, made by UAW members—we’ll make that extra reasonably priced for you.”
Biden additionally pledged to “ship on the promise” of “Purchase American” provisions for federal contracting, provisions he stated Trump has handled as “a weak suggestion.”
This speech was, as Greg Sargent argued, an assault on Trump’s one remaining strength—the truth that many citizens falsely imagine he has been good for the financial system, and a champion of (white) working-class folks. If Biden can persuade voters in Michigan, Pennsylvania, and Wisconsin that Trump has not simply did not ship on his guarantees about manufacturing jobs, however hasn’t even actually tried, that may obliterate one of many primary angles the Trump marketing campaign is attempting to make use of to mount a comeback. Biden has the reality on his facet, and Trump’s failures on COVID-19 might make some voters extra prepared to take heed to that reality.
One factor’s for positive, too: I actually, actually don’t wish to hear political reporters once more pretending that Trump is really the candidate talking about financial nervousness.