Press Release

President Biden Celebrated for Historic Economic Achievements

07. 21. 2024

The next generation of democratic leaders is building on Biden’s legacy by championing his popular economic agenda.

New York, NY – Economic Security Project Action Executive Director Taylor Jo Isenberg issued the following statement regarding today’s announcement that President Joe Biden stepped down as the Democratic nominee for President: 

“President Biden and his Administration pursued – and won – the most progressive economic agenda since FDR.  This administration ushered in a new economic paradigm by rejecting the prevailing trickle-down, winner-takes-all policymaking approach that dominated the beltway for decades. Instead, Biden’s team championed economic opportunity for all Americans instead of for just a handful of people and corporations.  President Biden and leaders in the Administration ushered in historic public investments in infrastructure, clean energy and manufacturing, reined in corporate consolidation and greed through a whole-of-government approach to competition policy, banned non-competes clauses to empower workers, lowered pervasive corporate junk fees to make daily living more affordable for families, and sent stimulus checks and temporary monthly Child Tax Credit checks that funneled needed cash directly into households during a crisis. These policies are overwhelmingly popular with a majority of Americans across the political spectrum and have facilitated a steady recovery from the pandemic: wages are up, unemployment is down, and the fundamentals of the economy have defied expectations from economists and pundits alike. 

The next generation of leaders can expand President Biden’s popular and effective economic policymaking and cement this paradigm shift to create an economy that works for all Americans. We are confident that future leaders can continue to build on the foundation that President Biden laid to tackle the affordability crisis, to push forward policies that will reshape the tax code to make it more fair at the top and bottom, to expand the Child Tax Credit and Earned Income Tax Credit, to rein in corporate power by blocking greater consolidation across industries, and to invest in the power of American innovation, including responsible AI, all while continuing to construct an economy in which all Americans have the freedom and stability to thrive.”