The President's remarks on the economy in his State of the Union address will focus on a new plan to lower costs for families, senior officials say.
While he'll tout economic gains over the past year, Biden will underscore there is"more work" to do toward lowering costs -- a reflection that despite a strong recovery, many Americans are still pessimistic about the economy.
Biden is expected to announce two new specific initiatives in a pair of disparate industries: the ocean shipping sector and nursing homes. He'll use the shipping example to illustrate corporate consolidation the administration says is driving up prices; three conglomerates now control 80% of global container ship capacity. Biden is launching a new initiative between the Federal Maritime Commission and the Justice Department to promote greater competition.
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