Addressing his first divided Congress, Biden says 'the soul of this nation is strong'

One of the night's more contentious moments came when discussing the debt ceiling and the White House's disagreements with Republicans on government borrowing and spending.

"Some of my Republican friends want to take the economy hostage unless I agree to their economic plans," Biden argued. "All of you at home should know what those plans are. Instead of making the wealthy pay their fair share, some Republicans want Medicare and Social Security to sunset."

The remark was met with resounding boos, and GOP Rep. Marjorie Taylor Greene could be seen calling out "liar."

Speaker McCarthy has also publicly said potential cuts to Medicare and Social Security are "off the table."

Biden continued on to say that he didn't think it was a majority of Republicans or even a significant number, and that he was "politely not naming them."

Based on the booing, he said, "So folks, we all apparently agree, Social Security and Medicare off the books now, right?" he said, which was followed by applause. "All right, we got unanimity."

"Let's stand up for seniors," he added. "If anyone tries to cut Medicare, I will stop them, I will veto it."

Biden is making the argument that his immigration policies have improved the situation at the southern border. However, Americans may not buy it. Poll after poll suggests that Biden's approval ratings are weakest on immigration. For example, ABC News/Washington Post's latest poll found that his approval/disapproval rating on the immigration situation at the border is just 28% approval compared to 59% disapproval. And a January poll from Quinnipiac University had even worse numbers for him: Only 18% approved of his handling of the situation on the Mexican border, while 68% disapproved. That was the lowest that number has ever been in Quinnipiac's polling.

-FiveThirtyEight's Nathaniel Rakich

As Biden turned to discuss policing and public safety in his address, he took a moment to welcome the parents of Tyre Nichols, the 29-year-old Black man who died last month after being assaulted by police in Memphis, Tennessee.

His mother, RowVaughn Wells, and his stepfather, Rodney Wells, received a standing ovation from those gathered in the chamber.

"What happened to Tyre in Memphis happens too often. We have to do better," Biden said. "Give law enforcement the training they need, hold them to higher standards and help them succeed in keeping everyone safe."

The president called for more resources to reduce violent crime, more community intervention programs and more investments in housing, education and job training.

"Let’s commit ourselves to make the words of Tyre’s mother come true, something good must come from this," he said.

While lawmakers in both parties said after Nichols died that they would like to pursue a compromise on policing reform, previous such efforts have failed in Congress.

Following remarks on his attempts to build out a "hollowed" middle class, Biden shifted to discussing his goal of making billionaires and corporations pay more in taxes.

"Corporations ought to do the right thing … That's why I propose that we quadruple the tax on corporate stock buybacks to encourage long-term investments instead."

"Let's finish the job and close the loopholes that allow the very wealthy to avoid paying their taxes," he said, urging Congress: "Reward work, not just wealth. Pass my proposal for a billionaire minimum tax."

House Speaker McCarthy, however, has pushed back. He said on Monday when speaking on the debt ceiling: "Defaulting on our debt is not an option but neither is a future of higher taxes."

Biden's new proposal comes after a sticking point in the Inflation Reduction Act's passage, a 1% excise tax on share buybacks that was added to the landmark bill in order to move forward.

Democrats stripped from the bill a tax break favoring wealthy hedge-fund managers called the "carried interest loophole" before its passage.