US President Joe Biden speaks about his economic plan in DeForest, Wisconsin, February 8. Photo: AFP/VNA

In addition to listing the impressive gains his administration has made over the past two years, President Biden wanted to convince the public that targeted government investments can propel the economy forward and help workers.

“This vision is a fundamental break with the economic theory that has failed Americans for the last four decades now,” Biden said. “The trickle-down failed the middle class. It failed America. People working as hard as ever couldn’t get ahead.”

The US President emphasized three "fundamental changes" -- growing the middle class by educating and empowering workers, "smart" investments, and promoting competition to lower costs and help small businesses.

The incumbent president, a candidate in the presidential election later next year, is facing many challenges as voters continue to express doubts about current economic management. Bidenomics will be central to Mr Biden's re-election campaign.