President Biden addresses Democratic caucus, visits school during trip to Philadelphia
Biden arrived in Philadelphia just a short while after announcing new economic actions against Russia.
PHILADELPHIA (WPVI) -- President Biden arrived in Philadelphia on Friday just a short while after announcing new economic actions against Russia for the war in Ukraine.
Speaking from the White House, Biden said the U.S. will dramatically downgrade its trade status with Russia, and also ban imports of Russian seafood, alcohol and diamonds.
The broad trade shift, which revokes the "most favored nation" status for Russia, is being taken in coordination with the European Union and Group of Seven countries.
Biden then left Washington for Philly, arriving shortly before noon.
He was headed for the Hilton Hotel at Penn's Landing to speak at the Democratic Caucus Issues Conference.
The last time the caucus met in person like this was in 2019.
The concern of many Americans not only in Philadelphia but all over the country is gas prices.
Biden addressed the issue at Friday's conference with house democrats.
"The oil companies and the executives don't want to pump more oil, although they have every capacity to do so," said Biden. "Rather than spend the profits in the increased price of gasoline, they would rather take those profits and buy back its stock."
Republican Congressman Brian Fitzpatrick says reinvigorating a key pipeline would bring certainty to the future of the energy market.
"If we were to send a signal that we were going to open back up Keystone XL, that announcement would help energy prices to go down," said Fitzpatrick.
While we grapple with rising prices, Biden stands by our nation's economic gains, applauding the impact of the American Rescue Plan on its one-year anniversary.
"We've seen the lowest child poverty rate ever recorded, a 40% decline in child poverty," he said.
The Biden Administration says children in North Philadelphia benefitted from that $1.9 trillion plan in the form of funding for art and reading.
Students at Luis Munoz Marin Elementary school sat down with Biden to thank him and show off the results of their hard work.
