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Ben Franklin Bridge Crescent City Connection Dolphin Expressway Bridge Kingston-Rhinecliff Bridge Lewis and Clark Bridge Memphis-Arkansas Bridge Mid-Hudson Bridge Newburgh-Beacon Bridge Robert C. Byrd Bridge Sherman Minton Bridge Tobin Bridge Veterans Memorial Bridge Aerial photos by Nearmap and Vexcel Imaging More
Seismologists said that severe earthquakes are relatively rare around the city and cannot be predicted. But if one were to hit, it could inflict serious damage.The earthquake that hit the Northeast on Friday morning rattled nerves but did not do much damage. Still, it left many New Yorkers wondering how afraid they should be of a bigger one hitting closer to the city.The answer? It’s hard to say.Some news reports suggest that a large earthquake is “due” in New York City because moderate ones — with a magnitude of 5 or more — typically occur every few hundred years. The last one took place in the 1700s. Friday’s earthquake, in comparison, was a magnitude 4.8.In 2008, Columbia University’s Lamont-Doherty Earth Observatory found that the risk of earthquakes in the New York City area was greater than previously believed. That is because smaller earthquakes occur regularly in New York City, like a magnitude 1.7 earthquake that was recorded in Astoria, Queens, in January.Experts caution that it is impossible to know when an earthquake will strike or how much damage it might cause. But if an earthquake much stronger than Friday’s were to hit closer to New York City, “it would be a different story,” said Kishor S. Jaiswal, a research structural engineer with the U.S. Geological Survey. Forecasts from the city suggest that such a quake could result in dozens of injuries and billions of dollars in damage.There were few reports of damage or injuries after Friday’s earthquake. Still, city officials said they were inspecting bridges, train tracks and buildings, and that people should be prepared for aftershocks for at least several days. There were 29 aftershocks as of Saturday afternoon, including one with a magnitude of 3.8, according to U.S.G.S.Earthquakes with a similar magnitude to Friday’s are “rare, but they’re not unheard-of” close to New York City, said Leslie Sonder, an associate professor of earth sciences at Dartmouth College.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More
If the Joe Biden who showed up to deliver the State of the Union address last week is the Joe Biden who shows up for the rest of the campaign, you’re not going to have any more of those weak-kneed pundits suggesting he’s not up to running for re-election. Here’s hoping he does.But that’s not the only thing from Thursday night that I hope Biden holds onto. So far, the Biden team has been more sure-footed attacking Donald Trump’s threat to democracy than it has been defending Biden’s incumbency. That reflects a strange problem they face. By virtually any measure save food prices, Biden is presiding over a strong economy — stronger, by far, than most peer countries. As Noah Smith has noted, the Biden economy looks far better than Ronald Reagan’s “Morning in America”: Unemployment is lower, inflation is lower, interest rates are lower, stock market returns are better.But Americans feel otherwise. The most recent Times/Siena poll found that 74 percent of registered voters rated the economy either “poor” or “fair.” By a 15-point margin, voters said Trump’s policies helped them personally. By a 25-point margin, they said Biden’s policies hurt them personally.Voters seem to remember the tail end of Trump’s third year, when the economy was strong, and not the utter calamity of his fourth year, when his Covid response was chaos and the economy was frozen. In November of 2020, unemployment was 6.7 percent and Trump had just turned a White House celebration into a superspreader event. Republicans who say Americans should ask whether they’re better off than they were four years ago should be careful what they wish for.But Biden is in a tough spot. You don’t want to run for re-election telling voters they’re wrong and the economy is actually great. Nor can you run for re-election telling voters that they’re right and the economy is bad. Biden has often seemed a little unsure what to say about his own record. Thursday night, he figured it out.“I came to office determined to get us through one of the toughest periods in the nation’s history,” Biden said. “We have. It doesn’t make news, news — in a thousand cities and towns, the American people are writing the greatest comeback story never told.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More
When Gov. Josh Shapiro of Pennsylvania got an emergency call about I-95 last June, his first thought turned to semantics. “When you say ‘collapse,’ do you really mean collapse?” he recalled wondering. Highways don’t typically do that, but then tractor-trailers don’t typically flip over and catch fire, which had happened on an elevated section of the road in Philadelphia.Shapiro’s second, third and fourth thoughts were that he and other government officials needed to do the fastest repair imaginable.“My job was: Every time someone said, ‘Give me a few days, and I’ll get back to you,’ to say, ‘OK, you’ve got 30 minutes,’” he told me recently. He knew how disruptive and costly the road’s closure would be and how frustrated Pennsylvanians would get.But he knew something else, too: that if you’re trying to impress a broad range of voters, including those who aren’t predisposed to like you, you’re best served not by joining the culture wars or indulging in political gamesmanship but by addressing tangible, measurable problems.In less than two weeks, the road reopened.Today, Shapiro enjoys approval ratings markedly higher than other Pennsylvania Democrats’ and President Biden’s. He belongs to an intriguing breed of enterprising Democratic governors who’ve had success where it’s by no means guaranteed, assembled a diverse coalition of supporters and are models of a winning approach for Democrats everywhere. Just look at the fact that when Shapiro was elected in 2022, it was with a much higher percentage of votes than Biden received from Pennsylvanians two years earlier. Shapiro won with support among rural voters that significantly exceeded other Democrats’ and with the backing of 14 percent of Donald Trump’s voters, according to a CNN exit poll that November.Biden’s fate this November, Democratic control of Congress and the party’s future beyond 2024 could turn, in part, on heeding Shapiro’s and like-minded Democratic leaders’ lessons about reclaiming the sorts of voters the party has lost.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More
Voters’ negative perceptions about the economy are weighing on President Biden’s poll numbers. Here’s what his economic policies have, and haven’t, accomplished.President Biden is finding it hard to sell Americans on his economic track record.Kent Nishimura for The New York TimesWhere the economy is working (and where it isn’t) With a year to go before Election Day, polls increasingly show that American voters believe next year will be a rematch between President Biden and Donald Trump — with the former president in the lead in key battleground states despite his legal troubles (more on that below).Biden’s troubles stem in large part from negative perceptions about the economy, even as several indications show that it is performing strongly. Here’s a deeper look at what “Bidenomics” has, and hasn’t, accomplished.On the positive side: jobs. Since Biden took office, employers have created 14 million jobs, and the unemployment rate has been hovering around a 50-year-low for months.The president has also been talking up signature economic accomplishments like the Infrastructure Investment and Jobs Act, which he argues have helped rebuild rural America and invigorated the economy. “Bidenomics is just another way of saying the American dream,” he said in a speech. It’s not a stretch. The economy grew last quarter at nearly 5 percent, belying a global slowdown.On the negative side: inflation. Wages have been growing slowly, but they’ve been offset by rising prices, Biden’s Achilles’ heel. Republicans have blamed the White House’s economic policies for soaring consumer prices, which hit a 40-year high in the summer of 2022.Many economists say global factors are probably more to blame. But the perception of Biden’s culpability here is hurting him.A partial win: the markets. Investors tend to give high marks to presidents whose tenures coincide with strong investment returns. The S&P 500 has gained nearly 15 percent since Biden’s inauguration, weathering much of the slump set off by the Fed’s historic rates-tightening policy. (The bond market has gone in the opposite direction.)That’s decent, but pales in comparison with the Trump years, when the benchmark index climbed more than 65 percent.Biden has been touring the country — on Monday, he was in Delaware to promote federal money flowing to Amtrak, the rail operator — to refocus the public’s perceptions of his economic achievements. Meanwhile, questions swirl over whether Biden can eventually overtake Trump.A reminder: The DealBook Summit is on Nov. 29. Among the guests are Bob Iger of Disney; Lina Khan of the F.T.C.; and David Zaslav of Warner Bros. Discovery. You can apply to attend here.HERE’S WHAT’S HAPPENING Uber’s latest earnings miss expectations. The ride-hailing giant said on Tuesday that it had earned 10 cents per share in the third quarter, below the 12 cents that analysts had forecast. But the company argued that its business showed strong growth in its core mobility division.OpenAI seeks to build on its runaway success. The Microsoft-backed A.I. start-up said that its chatbot, ChatGPT, now had over 100 million weekly active users, giving it a formidable lead in the race to capture artificial intelligence customers. The company also introduced an online store that will let users build customized chatbots.Striking Hollywood actors push back on studios’ latest contract offer. The SAG-AFTRA union said that the “last, best and final” bid still fell short on key issues like the use of A.I., making it unclear when its nearly four-month strike will end. In other labor news, Starbucks will raise the average salary of hourly workers by at least 3 percent.Trump puts his legal liabilities on displayDonald Trump may be handily leading the 2024 election polls. But his appearance in court on Monday, testifying in a civil fraud lawsuit filed by New York State, appeared to do him no favors in efforts to hold onto his business empire.It was a reminder that, while he’s riding high in the presidential race, the former president still faces a thicket of legal battles that could cost him financially and, perhaps, politically.Here are some notable moments from Trump’s testimony:Trump conceded that he had played a role in valuing his company’s properties, an issue at the heart of the case. (New York prosecutors argue that Trump illicitly inflated his net worth to defraud banks and insurers.) Of the company’s financial statements, he said, “I would look at them, I would see them, and I would maybe on occasion have some suggestions.”But Trump also sought to underplay the importance of those statements, saying they were so riddled with disclaimers that they were “worthless.” He promised, unprompted, that some of his bankers would testify in his defense.Trump also assailed the presiding judge, Arthur Engoron, for having decided before the trial that fraud was committed. Engoron appeared exasperated, telling the former president to answer questions and stop delivering speeches.The testimony was a reminder of his political baggage, which was also an undercurrent of the endorsement of Ron DeSantis on Monday by Kim Reynolds, Iowa’s popular governor. Reynolds, whose state’s caucuses could be crucial in bolstering a Trump rival, said that the U.S. needed a president “who puts this country first and not himself” — a thinly veiled rebuke of Trump.His legal issues don’t appear to have dented his popularity. He has contended that he is being politically persecuted — “People like you go around and try to demean me and try to hurt me,” he told a state lawyer on Monday — an argument that some of his supporters have embraced.In a sign of his enduring political strength, the betting site PredictIt puts Trump’s odds of winning the nomination on Monday at more than four times that of his nearest competitor in its market, Nikki Haley.Dina Powell McCormick, in 2017, when she was a deputy national security adviser during the Trump presidency.Al Drago for The New York TimesExxon Mobil taps a Wall Street and D.C. power player Dina Powell McCormick, a former Goldman Sachs executive and onetime Trump administration official, is joining the board of Exxon Mobil effective Jan. 1. Her appointment comes as energy groups have embarked on a series of big deals on the back of soaring oil prices and bumper profits.Powell McCormick has long been one of the most senior women on Wall Street. Before joining BDT & MSD partners, an investment and advisory firm, earlier this year, she spent 16 years at Goldman Sachs. Powell McCormick led the Wall Street giant’s global sovereign business and sustainability, and she was a member of its management committee, among other roles.Powell McCormick has also been a Washington power player. She has spent more than a dozen years working in government. From 2017 to 2018, she was a deputy national security adviser to Trump and played a significant role on Middle East policy, including efforts to broker a peace deal between Israel and the Palestinians. (Her husband, David McCormick, is a former C.E.O. of the hedge fund Bridgewater and was a Treasury Department official under Hank Paulson. He is running for Senate in Pennsylvania as a Republican.)Powell McCormick’s appointment even won backing from Mike Bloomberg, who is spending billions to fight climate change — a sign of how wide-ranging her political and business relationships are.“Dina has been a close partner for years through her role as global head of sustainability at Goldman Sachs,” Bloomberg said, “and we have teamed up to create new partnerships that invest in market-driven ways to create clean energy and advance climate transition goals.”Energy giants are on a deal spree. Exxon reported quarterly profits of $9.1 billion last month, as oil prices have surged and demand has skyrocketed after Russia’s invasion of Ukraine. In October, Exxon agreed to acquire the shale oil specialist Pioneer Natural Resources for around $60 billion and Chevron struck a $53 billion deal to buy Hess. Exxon’s board had been in the spotlight over the energy transition. Engine No. 1, an activist investor, won three seats after targeting the company over its governance and environmental track record. But two years later, the firm changed course, saying that Exxon had made big changes. Exxon, however, has resisted calls to pour more money into renewable energy, arguing that its money is better on low-carbon investments.Tracing WeWork’s rise and spectacular fallWeWork finally filed for bankruptcy protection on Monday, after years of struggling with crushing debt and the coronavirus pandemic’s emptying out of office spaces — and that’s even after it had abandoned the runaway growth it pursued under its co-founder, Adam Neumann.The company that sought Chapter 11 is a shell of the real estate juggernaut that first sought to go public at a $47 billion valuation. (Its stock is down 98 percent this year.) Here’s how the business once lauded by the Japanese tech investor SoftBank as a revolution went astray.WeWork has been on its heels since it scrapped its I.P.O. plans in 2019. The company had been riding high, buoyed by Neumann’s promises that the start-up — whose business involved leasing out office space for co-working — would “elevate the world’s consciousness.” But then:Prospective investors blanched at the company’s steep losses, lax corporate governance and the controversies that dogged Neumann. (Activities on private jets were among them.) And the S.E.C. criticized the company’s disclosure involving mismatches between long-term financial obligations and its short-term assets. Neumann stepped down after WeWork shelved its I.P.O., and SoftBank provided it with a multibillion-dollar lifeline.Under a new C.E.O., Sandeep Mathrani, WeWork confronted the devastating effect of pandemic lockdowns and the rise of remote working. The company went public — via a blank-check vehicle — in 2021, while it started closing locations and renegotiating leases.Mathrani left in May, reportedly after clashing with SoftBank. His replacement, David Tolley, has kept trying to right the ship, but WeWork warned in August that there was “substantial doubt” about its future. Last month, it said it would miss interest payments on its debt.WeWork’s filing raises questions about the fate of commercial real estate. The company noted on Monday that it had reached agreements with about 92 percent of creditors holding secured debt. Its restructuring involves reducing its real estate portfolio.The company is one of the largest corporate tenants in New York and London, and any move to shed more of its leases would hurt commercial landlords that are themselves struggling to pay their debts.THE SPEED READ DealsResearch analysts at some of the banks that took Birkenstock public wrote in their initial reports on the sandal maker that its I.P.O. was valued too high. (Bloomberg)“Warring Billionaires, a Rogue Employee, a Divorce: One Hedge Fund’s Tale of Woe” (NYT)PolicyIntel is reportedly the leading candidate to land billions of dollars in federal funding to build secure plants to make chips for use by the U.S. military and intelligence agencies. (WSJ)A man who posed as a billionaire rabbi and made a $290 million takeover bid for the retailer Lord & Taylor was sentenced to more than eight years in prison. (Bloomberg)Best of the restDisney hired Hugh Johnston, the longtime finance chief at PepsiCo, as its new C.F.O. (CNBC)The founder of the dating app Bumble, Whitney Wolfe Herd, is stepping down as C.E.O. (NYT)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More
Gov. Andy Beshear, the popular incumbent, is campaigning for re-election on abortion rights, the economy and infrastructure — but distancing himself from the unpopular president.Gov. Andy Beshear of Kentucky is conducting one of this year’s most intriguing political experiments: What happens when an incumbent Democrat campaigns on President Biden’s record and agenda, but never mentions the party’s unpopular leader by name?Mr. Beshear is running for re-election in his deep-red state as a generic version of Mr. Biden, promoting himself as having led Kentucky through dark times to emerge with a strong post-Covid economy.Like Mr. Biden, he is counting on voters’ distaste for aggressive Republican opposition to abortion, which is banned in almost all circumstances in Kentucky, as well as those with good will toward his stewardship during crises like natural and climate disasters.Yet he is doing whatever he can to separate himself from Mr. Biden, whose approval ratings remain mired around 40 percent nationally and are much lower in Kentucky.“This race is about Kentucky,” Mr. Beshear said on Monday in Richmond, Ky. “It’s about what’s going on in our houses, not about what’s going on in the White House.”Mr. Beshear is among the most popular governors in the country, and Democrats are cautiously optimistic about his prospects in Tuesday’s elections, even though former President Donald J. Trump won the state by about 26 percentage points in 2020.As in-person early voting begins on Thursday, officials in both parties in Kentucky say that every private poll of the race has shown Mr. Beshear leading his Republican challenger, Daniel Cameron, the attorney general. That could suggest the continuation of a national political environment that has been favorable to Democrats since the Supreme Court’s decision in Dobbs v. Jackson in June 2022 ended the federal right to abortion.Daniel Cameron, the Republican challenger for governor and the state’s attorney general, acknowledges in his TV ads that Mr. Beshear is “a nice guy.”Timothy D. Easley/Associated PressBut Mr. Biden remains toxic in the state: A poll released Tuesday by Morning Consult found that 68 percent of Kentuckians disapproved of him, while 60 percent — including 43 percent of Republicans — approved of Mr. Beshear.Since Mr. Beshear won the governor’s race in 2019, the number of registered Democrats in Kentucky has fallen while the number of Republicans has increased. And local Republicans believe they’ll outperform polling after surveys underestimated support for Mr. Trump in 2020.Kentucky’s voters have a knack for providing a preview of national trends. The state’s last six elections for governor have forecast presidential election results a year later.On the campaign trail in counties that Mr. Trump carried — which is 118 of Kentucky’s 120 — Mr. Beshear tries to extricate the Biden from Bidenomics, the tagline much heralded by the president’s campaign. Mr. Beshear celebrates record-low unemployment rates, a major bridge project paid for by Mr. Biden’s infrastructure law and what he says are the “two best years for economic development in our history.”No new business development is too small. At a Monday morning stop in Richmond, Ky., Mr. Beshear cited the recent opening of a truck stop just outside town. “We even brought a Buc-ee’s to Madison County,” he said, referring to the franchise’s first outpost in the state and a point of local pride.Left unmentioned in Mr. Beshear’s pitch to voters is the Biden administration’s significant role in his résumé. Mr. Biden’s infrastructure law has directed $5.2 billion to at least 220 Kentucky projects, including $1.1 billion for high-speed internet and $1.6 billion for the rebuilding of the Brent Spence Bridge, which connects Cincinnati to its Kentucky suburbs. It’s a long-awaited project that Mr. Beshear mentions in his closing TV ad.Democrats on the Kentucky ballot with Mr. Beshear on Tuesday have all gotten the message about Mr. Biden.Kim Reeder, the Democrat running for state auditor, laughed when asked if she had ever said the words “Joe Biden” out loud, then requested to go off the record when asked what she thought of his performance in office. Sierra Enlow, the party’s candidate for agriculture commissioner — whose Republican opponent is pledging in television ads to “stop Biden and save Kentucky” — said she responded by “talking about what voters need to hear and what this office actually does.”Kim Reeder, left, a Democrat running for state auditor, with a supporter at a brewery in Richmond, Ky. Jon Cherry for The New York TimesAnd Pam Stevenson, the Democratic candidate for attorney general, said she didn’t talk about Mr. Biden “because for the last year, no one’s asked me about him.”Kentucky Republicans acknowledge that Mr. Beshear is popular and leading even in their polling. Mr. Cameron, who is a protégé of Senator Mitch McConnell, acknowledges in his TV ads that Mr. Beshear is “a nice guy.”The most popular topics in TV ads aired by Mr. Cameron and his Republican allies are crime, opposition to Mr. Biden, Mr. Cameron’s endorsement from Mr. Trump, opposition to L.G.B.T.Q. rights, and jobs, according to AdImpact, a media tracking firm.Mac Brown, the chairman of the Republican Party of Kentucky, said Mr. Beshear’s popularity was a remnant of the billions directed to the state from the Biden administration. Crime is the foremost concern, said Mr. Brown, whose home in the Louisville suburbs was vandalized and burned last year.“When you sit down and look at it, he’s very good at taking credit for what other people do,” Mr. Brown said. “That’s probably the easiest way to say it.”As with Mr. Biden and other Democrats, the most potent political weapon for Mr. Beshear is abortion rights. With Republican supermajorities in the Kentucky Legislature, there’s little Mr. Beshear can do to change the state’s near-total ban on the procedure. The building in downtown Louisville that housed one of Kentucky’s last abortion clinics is now for sale.Pam Stevenson, the Democrat running for attorney general, said she didn’t talk about Mr. Biden “because for the last year, no one’s asked me about him.”Jon Cherry for The New York TimesMr. Beshear’s campaigning is a reversal of decades of red-state Democratic reticence on abortion politics. Where Democrats have in the past avoided the issue or watered down their support for abortion rights, Mr. Beshear has blasted Mr. Cameron for his anti-abortion stance and attacked Kentucky Republicans for passing the abortion ban. He is airing striking ads that feature a woman who speaks of being raped by her stepfather when she was 12 years old.Mr. Cameron, who has defended the state’s abortion ban in court, now says he would sign legislation to allow some exceptions if elected.“There’s no ads saying, ‘Don’t elect the pro-abortion guy,’” said Trey Grayson, a Republican who served as Kentucky secretary of state in the 2000s.Last November, voters rejected an effort to write an abortion prohibition into the Kentucky Constitution. Now the Beshear campaign has found in its polling that just 12 percent of Kentuckians favor the state’s abortion ban. Mr. Beshear said he was trying to change the political language surrounding abortion away from the old binary between choice and life.“Those terms were from a Roe v. Wade world that doesn’t exist anymore,” he said in Richmond this week. “In the Dobbs world, we have the most draconian, restrictive law in the country. This race is about whether you think that victims of rape and incest should have options, that the couples that have a nonviable pregnancy should have to carry it to term even though that child is going to die.”Steve Beshear, who is Mr. Beshear’s father and a former governor of the state, was more succinct about where the abortion debate stood in Kentucky.“It’s totally changed from a Republican issue to a Democratic issue,” he said.Steve Beshear, Mr. Beshear’s father and a former Kentucky governor, said abortion politics in the state now favored Democrats.Jon Cherry for The New York TimesJust as Mr. Biden’s fate is likely to be determined by his performance in the counties that ring Atlanta, Milwaukee and Philadelphia, Mr. Beshear has concentrated on the suburban areas near Cincinnati, Lexington and Louisville. In 2019, he won Madison County, a Lexington suburb that includes Richmond, before Mr. Trump won it by about 27 points in 2020.Jimmy Cornelison, a Democrat who is the elected coroner of Madison County, said people there appreciated that the state had far fewer deaths from the coronavirus pandemic because Mr. Beshear had put in place aggressive policies to restrict public gatherings and require masks in indoor spaces. But that doesn’t mean such Kentuckians share Mr. Beshear’s party identification.“There were a lot of people elected Democrats in this county that aren’t Democrats now,” Mr. Cornelison said. “I’m the sole survivor.”Voters who came to Mr. Beshear’s campaign rallies this week spoke of his nightly coronavirus updates in 2020, his relentless travel schedule and a general satisfaction about how the state is doing. While Mr. Biden speaks of restoring “the soul of America,” Mr. Beshear has invited the entire state to join him on “Team Kentucky.”“People disagree with Washington, you know, but they like what’s going on in Kentucky,” said Ralph Hoskins, a Democratic retired school superintendent from Oneida, Ky., who drove through the rain to see Mr. Beshear speak under a tent in the parking lot of an abandoned supermarket in London, Ky.Nearby, Jean Marie Durham, a Democrat who is a retired state employee from East Bernstadt, Ky., showed off a poem she had written about Mr. Beshear during the early days of the pandemic.“He cares about our protection from death and despair; He diligently considers our safety and personal care!” she wrote.Ms. Durham also had handy the response Mr. Beshear had sent her. He called her “a very talented writer” and wrote that he had displayed the poem in his office in Frankfort, the capital.“He’s one of us,” Ms. Durham said of Mr. Beshear, “even though his dad was governor.” More
The president’s push to focus attention on the domestic economy comes as his administration has been dealing with events overseas after the terrorist attacks in Israel.The White House on Wednesday will announce more than $5 billion in funding for agriculture, broadband and clean energy needs in sparsely populated parts of the country as President Biden travels to Minnesota to kick off an administration-wide tour of rural communities.The president’s efforts to focus attention on the domestic economy ahead of next year’s campaign come after three weeks in which his administration has been seized by events overseas following the terrorist attacks in Israel and the state’s subsequent military action in Gaza.The trip will take place as Mr. Biden is urging Congress to quickly pass a $105 billion funding package that includes emergency aid to Israel and Ukraine, two conflicts he has described as threats to democracy around the globe.But the president and his aides are well aware that his hopes for a second term are likely to be determined closer to home. Rural voters like the ones he will address at a corn, soybean and hog farm south of Minneapolis are increasingly voting Republican. A recent poll showed that most voters had heard little or nothing about a health care and clean energy law that is the cornerstone of Mr. Biden’s economic agenda. And the president even faces a challenge within his own party, from Representative Dean Phillips of Minnesota, who announced his long-shot presidential bid last week.Karine Jean-Pierre, the White House press secretary, declined on Tuesday to speak about campaign issues, citing the Hatch Act, which limits political activity by federal officials, but said that Mr. Biden “loves Minnesota.” Administration officials have said Mr. Biden’s trip was planned before Mr. Phillips announced his candidacy.The White House has called the next two weeks of events the “Investing in Rural America Event Series.” It includes more than a dozen trips by Mr. Biden as well as cabinet secretaries and other senior administration officials. The White House said in a statement that the tour would highlight federal investments that “are bringing new revenue to farms, increased economic development in rural towns and communities, and more opportunity throughout the country.”Mr. Biden will be joined on Wednesday by Tom Vilsack, the agriculture secretary. Against the backdrop of a family farm that uses techniques to make crops more resilient to climate change, they will announce $1.7 billion for farmers nationwide to adopt so-called climate-smart agriculture practices.Agriculture Secretary Tom Vilsack will join President Biden in Minnesota and later travel to Indiana, Wyoming and Colorado.Haiyun Jiang for The New York TimesOther funding announcements include $1.1 billion in loans and grants to upgrade infrastructure in rural communities; $2 billion in investments as part of a program that helps rural governments work more closely with federal agencies on economic development projects; $274 million to expand high-speed internet infrastructure; and $145 million to expand access to wind, solar and other renewable energy, according to a White House fact sheet.“Young people in rural communities shouldn’t have to leave home to find opportunity,” Neera Tanden, director of the White House Domestic Policy Council, said Tuesday on a call with reporters.She said federal investments were creating “a pathway for the next generation to keep their roots in rural America.”Gov. Tim Walz of Minnesota, a Democrat, said he expected Mr. Biden to face serious headwinds in rural communities, in large part because of inflation levels.“It is a little challenging, there’s no denying, when prices go up,” Mr. Walz said. “The politics have gotten a little angrier. I think folks are feeling a little behind.”But Mr. Walz also praised Mr. Biden for spending time in rural communities. “Democrats need to show up,” he said.Kenan Fikri, the director of research at the Economic Innovation Group, a Washington think tank, said the Biden administration had made sizable investments over the past two and a half years in agriculture, broadband and other rural priorities.“The administration has a lot to show for its economic development efforts in rural communities,” he said, but “whether voters will credit Biden for a strong economic performance is another question.”Later in the week Mr. Vilsack will travel to Indiana, Wyoming and Colorado to speak with agricultural leaders and discuss land conservation. Deb Haaland, the interior secretary, will go to her home state of New Mexico to highlight water infrastructure investments.Energy Secretary Jennifer M. Granholm will be in Arizona to talk about the electricity grid and renewable energy investment in the rural Southwest.The veterans affairs secretary, Denis McDonough, plans to visit Iowa to discuss improving access to medical care for veterans in rural areas. Isabel Guzman, who leads the Small Business Administration, will travel to Georgia to talk about loans for rural small businesses.Miguel A. Cardona, the education secretary, will go to New Hampshire to promote how community colleges help students from rural areas. Xavier Becerra, the secretary of health and human services, will be in North Carolina to talk about health care access in rural areas. More
The Biden administration is trying to increase renewable energy investments in distressed regions, but some are skeptical those measures would be enough to make up for job losses.Tiffany Berger spent more than a decade working at a coal-fired power plant in Coshocton County, Ohio, eventually becoming a unit operator making about $100,000 annually.But in 2020, American Electric Power shut down the plant, and Ms. Berger struggled to find a job nearby that offered a comparable salary. She sold her house, moved in with her parents and decided to help run their farm in Newcomerstown, Ohio, about 30 minutes away.They sell some of the corn, beans and beef they harvest, but it is only enough to keep the farm running. Ms. Berger, 39, started working part time at a local fertilizer and seed company last year, making just a third of what she used to earn. She said she had “never dreamed” the plant would close.“I thought I was set to retire from there,” Ms. Berger said. “It’s a power plant. I mean, everybody needs power.”The United States is undergoing a rapid shift away from fossil fuels as new battery factories, wind and solar projects, and other clean energy investments crop up across the country. An expansive climate law that Democrats passed last year could be even more effective than Biden administration officials had estimated at reducing fossil fuel emissions. While the transition is projected to create hundreds of thousands of clean energy jobs, it could be devastating for many workers and counties that have relied on coal, oil and gas for their economic stability. Estimates of the potential job losses in the coming years vary, but roughly 900,000 workers were directly employed by fossil fuel industries in 2022, according to data from the Bureau of Labor Statistics.The Biden administration is trying to mitigate the impact, mostly by providing additional tax advantages for renewable energy projects that are built in areas vulnerable to the energy transition. But some economists, climate researchers and union leaders said they are skeptical the initiatives will be enough. Beyond construction, wind and solar farms typically require few workers to operate, and new clean energy jobs might not necessarily offer comparable wages or align with the skills of laid-off workers.Coal plants have already been shutting down for years, and the nation’s coal production has fallen from its peak in the late 2000s. U.S. coal-fired generation capacity is projected to decline sharply to about 50 percent of current levels by 2030, according to the Energy Information Administration. About 41,000 workers remain in the coal mining industry, down from about 177,000 in the mid-1980s.The industry’s demise is a problem not just for its workers but also for the communities that have long relied on coal to power their tax revenue. The loss of revenue from mines, plants and workers can mean less money for schools, roads and law enforcement. A recent paper from the Aspen Institute found that from 1980 to 2019, regions exposed to the decline of coal saw long-run reductions in earnings and employment rates, greater uptake of Medicare and Medicaid benefits and substantial decreases in population, particularly among younger workers. That “leaves behind a population that is disproportionately old, sick and poor,” according to the paper.The Biden administration has promised to help those communities weather the impact, for both economic and political reasons. Failure to adequately help displaced workers could translate into the kind of populist backlash that hurt Democrats in the wake of globalization as companies shifted factories to China. Promises to restore coal jobs also helped Donald J. Trump clinch the 2016 election, securing him crucial votes in states like Pennsylvania.Federal officials have vowed to create jobs in hard-hit communities and ensure that displaced workers “benefit from the new clean energy economy” by offering developers billions in bonus tax credits to put renewable energy projects in regions dependent on fossil fuels.Tiffany Berger, who was laid off when the plant in Coshocton County was shut down, struggled to find work that offered a comparable salary. She moved in with her parents and decided to help run her family’s farm.Maddie McGarvey for The New York TimesIf new investments like solar farms or battery storage facilities are built in those regions, called “energy communities,” developers could get as much as 40 percent of a project’s cost covered. Businesses receiving credits for producing electricity from renewable sources could earn a 10 percent boost.The Inflation Reduction Act also set aside at least $4 billion in tax credits that could be used to build clean energy manufacturing facilities, among other projects, in regions with closed coal mines or plants, and it created a program that could guarantee up to $250 billion in loans to repurpose facilities like a shuttered power plant for clean energy uses.Brian Anderson, the executive director of the Biden administration’s interagency working group on energy communities, pointed to other federal initiatives, including increased funding for projects to reclaim abandoned mine lands and relief funds to revitalize coal communities.Still, he said that the efforts would not be enough, and that officials had limited funding to directly assist more communities.“We’re standing right at the cusp of potentially still leaving them behind again,” Mr. Anderson said.Phil Smith, the chief of staff at the United Mine Workers of America, said that the tax credits for manufacturers could help create more jobs but that $4 billion likely would not be enough to attract facilities to every region. He said he also hoped for more direct assistance for laid-off workers, but Congress did not fund those initiatives. “We think that’s still something that needs to be done,” Mr. Smith said.Gordon Hanson, the author of the Aspen Institute paper and a professor of urban policy at the Harvard Kennedy School, said he worried the federal government was relying too heavily on the tax credits, in part because companies would likely be more inclined to invest in growing areas. He urged federal officials to increase unemployment benefits to distressed regions and funding for work force development programs.Even with the bonus credit, clean energy investments might not reach the hardest-hit areas because a broad swath of regions meets the federal definition of an energy community, said Daniel Raimi, a fellow at Resources for the Future.“If the intention of that provision was to specifically provide an advantage to the hardest-hit fossil fuel communities, I don’t think it’s done that,” Mr. Raimi said.Local officials have had mixed reactions to the federal efforts. Steve Henry, the judge-executive of Webster County, Ky., said he believed they could bring renewable energy investments and help attract other industries to the region. The county experienced a significant drop in tax revenue after its last mine shut down in 2019, and it now employs fewer 911 dispatchers and deputy sheriffs because officials cannot offer more competitive wages.“I think we can recover,” he said. “But it’s going to be a long recovery.”Adam O’Nan, the judge-executive of Union County, Ky., which has one coal mine left, said he thought renewable energy would bring few jobs to the area, and he doubted that a manufacturing plant would be built because of the county’s inadequate infrastructure.“It’s kind of difficult to see how it reaches down into Union County at this point,” Mr. O’Nan said. “We’re best suited for coal at the moment.”Federal and state efforts so far have done little to help workers like James Ault, 42, who was employed at an oil refinery in Contra Costa County, Calif., for 14 years before he was laid off in 2020. To keep his family afloat, he depleted his pension and withdrew most of the money from his 401(k) early.In early 2022, he moved to Roseville, Calif., to work at a power plant, but he was laid off again after four months. He worked briefly as a meal delivery driver before landing a job in February at a nearby chemical manufacturer.He now makes $17 an hour less than he did at the refinery and is barely able to cover his mortgage. Still, he said he would not return to the oil industry.“With our push away from gasoline, I feel that I would be going into an industry that is kind of dying,” Mr. Ault said. More
President Biden hopes to claim credit for what the White House describes as a record-breaking economic revival in America.President Biden’s attempt to earn a second term in the White House begins with a concerted campaign to claim credit for what he describes as a record-breaking economic revival in America.Mr. Biden will make that case in what his aides say is a “cornerstone” speech on Wednesday, using the backdrop of the Old Chicago Main Post Office to reassert the lasting benefits of “Bidenomics” as the 2024 campaign cycle heats up.He will argue that his willingness to plunge the American government more directly into supporting key industries like silicon chips has revitalized manufacturing. He will say investments in rebuilding crumbling infrastructure will pave the way for future growth. And he will insist that spending hundreds of millions of dollars on programs like student debt relief will let more people find their way to a comfortable, middle class life.“Since the president has taken office, 13 million jobs have been created,” Lael Brainard, Mr. Biden’s top economic adviser, said Tuesday. “The unemployment rate is near historic lows, below 4 percent for the longest stretch in nearly 50 years. And we’ve received record low unemployment for groups that too frequently have been left behind.”The boasting about Mr. Biden’s economic achievements is a calculated shift from the more cautious approach of his first two years, when millions of Americans were still struggling to recover from the devastating impact of the pandemic on their financial well-being.And the positive spin from the president and his advisers largely ignores the frustrations of many Americans who are still suffering from the effects of high inflation, interest rates that make borrowing more expensive, and the expense of everyday spending on necessities like health care, child care, groceries, gas and more.“While families suffer, the Biden administration is in a fantasy world, insisting their ‘policy has indeed worked,’” Tommy Pigott, a spokesman for the National Republican Committee, said in a statement on Tuesday. “Americans don’t want Biden to ‘finish the job.’”Mr. Pigott cited figures showing that the price of a gallon of gas remains about a dollar higher than it was when Mr. Biden took office, despite declines since the price shocks when Russia invaded Ukraine. He said numbers from the National Energy Assistance Directors Association show about 20 million Americans are behind on their utility bills.But administration officials are betting that with the pandemic largely in the rear view mirror, people will soon begin to appreciate the positive effect they say the president’s policies are having on their own lives.“I think people all across the United States of America are starting to see shovels in grounds in their communities,” said Olivia Dalton, the deputy White House press secretary. “As we get further into implementation, people are going to continue to feel that. They’re going to continue to see that and they’re going to continue to hear from this president about how we’re going to continue to make progress for them.”For now, most Americans have refused to give Mr. Biden the kind of credit that he and his advisers say he deserves. Polls show that about three-fourths of those surveyed believe the country under Mr. Biden’s leadership is on the wrong track. Only about a third say they approve of his handling of the economy.The president’s advisers say they believe it will take time for two things to happen: First, Americans must shake off the economic hangover from the pandemic. And second, they must begin feel the benefits of Mr. Biden’s policies in action.“People are just starting to see the impact of all of the successes of the last couple of years under this president’s economic agenda,” said Olivia Dalton, the deputy White House press secretary.Eventually, Mr. Biden will have to shift his focus to the future, and make specific promises to Americans about what kinds of new economic policies he would pursue in a second term.That could include making progress on the economic pledges he had to abandon as he made legislative compromises since taking office. He failed to win sufficient support for his proposals to roll back tax cuts implemented by former President Donald J. Trump. He also dropped proposals for universal preschool, free community college and heavily subsidized child care. More
