Report Says Biden’s Campaign to Unveil $700 bln Plan to Bolster US Economy

By Staff, Agencies

Joe Biden, the presumptive Democratic nominee in the United States’ 2020 presidential race, is set to unveil a $700 billion plan aimed at bolstering the country’s economy, according to the Washington Post.

The paper reported that the plan includes a $400 billion procurement program designed to invigorate US manufacturing and services sectors.

A further $300 billion is set to be invested into domestic research and development initiatives; half of the funds will be specifically aimed at clean energy tech -- an initiative already announced by the Biden camp earlier.

“Biden does not accept the defeatist view that the forces of automation and globalization render us helpless to retain well-paid union jobs and create more of them here in America,” the WaPo cited the campaign as saying.

In unveiling the plan, Biden is set to target one of the key pillars of the Trump campaign since 2016 -- a promise to bring manufacturing back home from overseas, creating thousands of jobs and energizing economic growth.

The plan will also help restore the labor market to its blooming state and generate an extra 5 million jobs.