Watch live: Biden delivers remarks on the economy

President Biden will be giving his first major economic speech of the year in Springfield, Va., on Thursday. He is expected to use the speech to launch an attack against Republican economic plans, including a House bill that would slash the IRS’s budget and a potential Republican proposal that would cut Social Security and Medicare.

Biden’s speech comes after a strong GDP report showing solid economic growth. The U.S. economy grew at an annual rate of 2.9 percent in the fourth quarter. The report also found growth in consumer spending and signs that show inflation is finally cooling down.

The speech is scheduled to begin at 2:45 p.m. ET.

Watch the live video above.