ICYMI: BIDEN’S ACHIEVEMENTS HAVE STRENGTHENED THE ECONOMY
As Biden Stacks Up Policy Wins, He’ll Soon Sign CHIPS Act into Law
WASHINGTON, D.C. — Yesterday, an Axios report highlighted the major successes of the Biden Administration and how the major public investments have “slowly but substantially re-engineered significant parts of the American economy” with historic legislation and deals with Congress.
Following the American Rescue Plan and Bipartisan Infrastructure Law, Biden will soon sign the CHIPS and Science Act into law – possibly followed by the Inflation Reduction Act of 2022 later this summer. These investments have achieved what nobody predicted: a historic jobs boom and economic recovery that surprised even the most bullish pundits.
Since taking office President Biden has created more than 9 million jobs, lowered unemployment to historic lows, boosted manufacturing jobs, prepared the nation for future pandemics, and passed a historic, bipartisan gun safety bill.
Love it or hate it, piece by piece, Biden has pumped billions into infrastructure projects, helped revive the domestic semiconductor industry, and accelerated U.S. viral research and vaccine production capabilities. He might be on the cusp of the biggest domestic clean-energy plan in U.S. history.
The $280 billion CHIPS and Science Act — which Biden will sign soon, after the House and Senate passed it last week — provides grants, tax credits and other incentives to manufacture computer chips in the U.S. The White House says it’ll eventually lower the price of cars, dishwashers and computers.
Biden’s $1 trillion infrastructure bill to rebuild roads, bridges and rail is one of the biggest packages signed by a president ever.
These developments required bipartisanship — something Biden promised but gets little credit for, since these thin bands of Republican support look nothing like traditional bipartisanship.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.