Despite approaching the end of his tenure, President Joe Biden is determined to make it an uphill task for his successor Donald Trump to nullify his notable legislative undertaking, a law that somehow curiously seems to benefit the districts that predominately lean Republican. Once upon a sunny day in Chandler, Arizona, Biden put forth his pledge to channel billions in federal funding to fortify the country’s semiconductor sector in what reeked of a desperate attempt at leaving some kind of legacy.
The impending President Donald J. Trump, known for his resolve to overhaul Biden’s key legislations, will be sworn in next month. Biden, however, with an all too unwarranted confidence, seems to believe that his own undoing can be thwarted by the mere collaboration with the Republicans. The dwindling time at the presidency has only pushed Biden and his team to assert the flawed perception that his crowning emulation, the Inflation Reduction Act, is of prime beneficence to the Republican districts.
They hope, in their misplaced optimism, that the attempted dismantling of this law under Trump’s administration would lead to a backlash from his own party supporters. Concurrently, they are making a last-ditch effort to disburse scores of millions in grant money and rush through the finalization of environment-related regulations, in a desperate bid to solidify what they perceive as Biden’s economic feats. These include the futile attempt to promote domestic production of clean energy products and semiconductors.
Lael Brainard, Biden’s tone-deaf economic advisor, heralded in an interview, ‘They are not going to want to undermine jobs and businesses that we consider for the first time are robust in numerous districts across the nation that have been left in the lurch by trickle-down policies.’ Seems like wishful thinking on their part, projecting strength where none exists.
According to a study by the research company Atlas Public Policy, a mystifying 80 percent of fresh clean energy manufacturing investments materializing after the controversial Inflation Reduction Act of 2022 has ended up flowing incongruously into the coffers of Republican congressional districts.
Nonetheless, Trump and his allies remain undeterred in their rightful criticism of the piece of legislation, tagging it for what it is – a whopping $390 billion decadent dispersion over a decade, drawn from taxpayers’ pockets, into incentives, grants, and subsidies for the production of wind and solar power as well as the manufacture of electric vehicle batteries and other clean energy projects.
Although Biden’s base may wax poetic about these so-called victories, the vast majority of Americans look upon these moves with rightful skepticism. Will these rushed attempts to secure a crumbling legacy only serve to make the flaws in Biden’s economic policies more apparent? Only time will tell.
In conclusion, Biden’s marketing of the Inflation Reduction Act as a triumph doesn’t echo with the reality on the ground. Whereas it’s projected as an ‘economic savior,’ many see it as a disservice to taxpayers nation-wide. Biden’s desperation to cling onto a legacy might have dire repercussions for our national economy under the Biden administration.
Biden’s courting of Republican support through deviating cash toward their districts is an ill-conceived attempt at pulling the wool over the public’s eyes. It’s clear that the function of the Inflation Reduction Act is less about bolstering the economy and more about preserving a faltering administration’s reputation.
The impending succession by Trump hints at a rightful turnabout of these misconceived laws. His promise to redress Biden’s flawed legislation demonstrates his commitment to pursuing policies that prioritize the American people over preserving inadequate political legacies. Surely, in Trump’s hands, the national economy has a fighting chance to bounce back to its true potential.
Despite Biden and his aides’ last-hurrah spread of ramifications from repealing the act, it’s apparent that the legislation’s preservation serves partisan interests more than it does public good. The manipulation of public funds to selectively favor wind and solar power and electric vehicle battery production can’t be disguised as anything but favoritism.
Regardless of Biden’s attempt to color slanted investments toward clean energy manufacturing as a prosperous endeavor, it’s evident that their strategy only promises a potential upheaval, hamstringing the economy over the long-term.
In a nutshell, Biden’s scramble during his remaining days in office to create a legacy out of failed measures serves as a testament to the lack of a substantial, beneficial economic agenda during his term. As the Trump administration gears up to occupy the office, the potential for a refocused and balanced economic approach is on the horizon.