Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Biden Gets Big Economic Win as Inflation Threatens Legacy (1)

Aug. 8, 2022, 6:43 PM

President Joe Biden raised the final pillar of his economic agenda with the Senate’s passage of a breakthrough climate and tax package, sealing a legacy that risks being undermined by an inflation surge he’s blamed for sparking.

The success of the Inflation Reduction Act will give Democrats a rallying cry for midterm elections and joins three other key bills as a foundation of what might be called Bidenomics: a combined $3 trillion push to reshape the US economy toward working families and domestic manufacturing, boost competition against China and avert the kind of stunted recovery Biden saw as vice president. ...