The trickle-down strategies of the last several decades — defined by tax cuts for the wealthy — didn’t work and, in fact, led to stagnating incomes for everyone else. However, the Biden administration’s vision for growth is clear: the Inflation Reduction Act, Bipartisan Infrastructure Law and CHIPS and Science Act chart a new path based on the philosophy that the economy is strongest when it grows from the “middle out and bottom up.”
These sweeping economic laws build out public investment in 21st-century infrastructure and support domestic competitiveness in key sectors, all while strengthening protections to ensure new public investment benefits working people from all walks of life.
The above excerpt was originally published in InsideSources.
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