What Trump promised, Biden seeks to deliver in his own way
Washington: Donald Trump pledged to fix U.S. infrastructure as president. He vowed to take on China and bulk up American manufacturing. He said he would reduce the budget deficit and make the wealthy pay their fair share of taxes.
Yet after two years as president, it’s Joe Biden who is acting on those promises. He jokes that he’s created an “infrastructure decade” after Trump merely managed a near parody of “infrastructure weeks.” His legislative victories are not winning him votes from Trump loyalists or boosting his overall approval ratings. But they reflect a major pivot in how the government interacts with the economy at a time when many Americans fear a recession and broader national decline.
Gone are blanket tax cuts. No more unfettered faith in free trade with non-democracies. The Biden White House has committed more than $1.7 trillion to the belief that a mix of government aid, focused policies and bureaucratic expertise can deliver long-term growth that lifts up the middle class. This reverses the past administration’s view that cutting regulations and taxes boosted investments by businesses that flowed downward to workers.
With new laws in place, Biden is taking the gamble that the federal bureaucracy can successfully implement and deliver on his promises, including after he leaves office.
That is a tricky spot, as Trump himself learned that global crises such as a pandemic can quickly ruin the foundations of an economic agenda, causing businesses and voters to shift priorities. There are few guarantees that the economy behaves over 10 years as government forecasts expect, while Biden’s policies will likely be challenged by the new Republican majority in the House.