In a recent government meeting, President Biden outlined a comprehensive plan aimed at making housing more affordable and reforming the tax system to benefit working Americans. The President emphasized the need to combat corporate greed by proposing the construction of 2 million housing units and capping rent increases at 5% annually. This initiative is part of a broader strategy to alleviate financial burdens on families and ensure that corporate landlords do not exploit tenants.

Biden also reiterated his commitment to maintaining that individuals earning less than $400,000 annually will not face increased federal taxes. He criticized the current tax structure, highlighting that billionaires pay an average federal tax rate of only 8.2%, significantly lower than that of essential workers such as teachers and nurses. To address this disparity, he proposed a minimum tax of 25% on billionaires, which he estimates could generate $500 billion in revenue over the next decade. This revenue would be allocated to childcare, elder care, and reducing the federal deficit.

On immigration, Biden discussed efforts to secure the southern border and reform legal immigration pathways, particularly for Dreamers and spouses of American citizens who have been waiting for green cards. He noted a significant decrease in border encounters since implementing executive actions to address immigration issues.

Biden concluded his remarks by emphasizing his dedication to working for the American people, contrasting his administration's priorities with those of former President Trump. He called for unity among Americans to protect democracy and ensure that everyone has a fair shot at success. The President's message resonated with themes of equality, freedom, and the importance of collective action against perceived threats to American values.