“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead,” Biden said.

The president outlined some of his most pressing concerns, including what he described as a “crumbling” free press, the outsized influence of the military-industrial complex, rising disinformation, and the need to remove dark money from politics. He also called for constitutional amendments to ensure presidential accountability, arguing that no president should be immune from prosecution for crimes committed while in office. (snip)

Earlier on Wednesday, Biden announced a breakthrough ceasefire deal between Israel and Hamas, securing what could be seen as a final diplomatic victory of his presidency. The deal, which he first proposed last spring and which Trump’s team served as a catalyst in closing, could end a 15-month conflict that has pulverized Gaza, increasingly isolated the US on the global stage and saw the administration face widespread protests on college campuses and beyond.

“This plan was developed and negotiated by my team, and will be largely implemented by the incoming administration,” Biden said on the impending ceasefire deal. “That’s why I told my team to keep the incoming administration fully informed, because that’s how it should be, working together as Americans.”