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Yes, the Inflation Reduction Act Is a Big Effing Deal
While the bill that just survived the Senate is a whittled-down version of the Build Back Better Act, it still puts the Democratic party on a promising new path.
The bill is only a portion of what should have been, true. But here’s the big picture on why even this whittled-down bill is, as Joe Biden once said of another historic but compromised piece of legislation, “a big fuckin’ deal.”
In a nutshell: It begins to turn 40 years of bad economic conventional wisdom on its head by asserting that the government has a role in structuring markets, promoting growth, and guiding industrial policy.
Continued
https://newrepublic.com/article/167332/senate-passes-inflation-reduction-act
Yes, the Inflation Reduction Act Is a Big Effing Deal
While the bill that just survived the Senate is a whittled-down version of the Build Back Better Act, it still puts the Democratic party on a promising new path.
The bill is only a portion of what should have been, true. But here’s the big picture on why even this whittled-down bill is, as Joe Biden once said of another historic but compromised piece of legislation, “a big fuckin’ deal.”
In a nutshell: It begins to turn 40 years of bad economic conventional wisdom on its head by asserting that the government has a role in structuring markets, promoting growth, and guiding industrial policy.
Continued
https://newrepublic.com/article/167332/senate-passes-inflation-reduction-act
