President Joe Biden plans to showcase the success of his economic plan during his visit Madison Wednesday, according to AP News.
During his visit, Biden will likely highlight the comeback of the nation’s economy since the pandemic and the record 517,000 jobs created in the first two years of his presidency. This will be his first public event following his State of the Union address Tuesday.
Biden gave his State of the Union speech before a divided Congress, pushing for bipartisan cooperation, acknowledging the success of his Bipartisan Infrastructure Law and emphasizing his tax bill that would impose a minimum tax on billionaires. He also discussed his economic plan to strengthen areas of the country that need more employment.
“My economic plan is about investing in places and people that have been forgotten,” Biden said in the speech Tuesday.
UW professor and Community Economic Development Specialist Steven Deller said Biden’s policies have had a positive impact on the Madison area. Due to acts passed by the president like the Inflation Reduction Act or the Infrastructure Act, cities are able to get federal grants from the Biden administration, Deller said.
“It’s those types of policies that are giving the city the kind of flexibility to make some investments that they wouldn’t be able to otherwise,” Deller said. “So it’s creating opportunities for the city to make some investments.”
The city of Madison is currently focused on moving its economy forward through an economic development strategy known as CONNECT MADISON.
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Introduced in 2016, this plan combines the city’s goals of economic growth and equity. It has five different strategies paired with “Priority 1 Projects” meant to strengthen and guide Madison’s economic development actions and policies, according to the City of Madison.
One of these strategies includes creating an efficient transportation system with Strategy four’s “Priority 1 Project.”
According to Deller, the Biden administration has done two things that have benefited Madison. One, they have provided resources for communities to make investments that they wouldn’t otherwise be able to.
“Second, it has sent a signal that investing in your community using public dollars is actually a good thing,” Deller said.
According to Deller, Madison’s recent switch to electric buses, to support their development strategy, is possible because of funding from federal grants. President Biden’s policies allow an opportunity for Wisconsin to invest in its communities, making them more attractive to residents and outsiders.
Biden will speak in Madison Wednesday around 1 p.m. at the LIUNA Training Center in DeForest, according to NBC15.
