Biden Hammers Republicans on the Economy, With Eye on 2024

The president has found a welcome foil in a new conservative House majority and its tax and spending plans, sharpening a potential re-election message.

President Biden on Thursday assailed House Republicans over their tax and spending plans, including potential changes to popular retirement programs, ahead of what is likely to be a run for re-election.

In a speech in Springfield, Va., Mr. Biden sought to reframe the economic narrative away from the rapid price increases that have dogged much of his first two years in office and toward his stewardship of an economy that has churned out steady growth and strong job gains.

Mr. Biden, speaking to members of a steamfitters union, sought to take credit for the strength of the labor market, moderating inflation and news from the Commerce Department on Thursday morning that the economy had grown at an annualized pace of 2.9 percent at the end of last year. In contrast, he cast House Republicans and their economic policy proposals as roadblocks to continued improvement.

“At the time I was sworn in, the pandemic was raging and the economy was reeling,” Mr. Biden said before ticking through the actions he had taken to aid the recovery. Those included $1.9 trillion in pandemic and economic aid; a bipartisan bill to repair and upgrade roads, bridges, water pipes and other infrastructure; and a sweeping industrial policy bill to spur domestic investment in advanced manufacturing sectors like semiconductors and speed research and development to seed new industries.

U.S. economy grew 2.1 percent in 2022, but recession fears linger.

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