Congress has passed three bills that will make $2trn available to reshape America’s economy. But there are questions about whether the government is up to managing the most ambitous industrial policy in decades
Save time by listening to our audio articles as you multitaskhas its way. In the past two years Congress has passed three bills, on infrastructure, semiconductor chips and greenery, that will make $2trn available to reshape the economy. The idea is that, with government action, America can reindustrialise itself, bolster national security, revive left-behind places, cheer up blue-collar workers and dramatically reduce its carbon emissions all at the same time.
A giant plan that has so many disparate objectives does not simply succeed or fail. Its full consequences may not become clear for many years. However, you do not have to be Ayn Rand to question whether the government is up to managing such an ambitious set of projects. For example, because American environmentalism has put preservation first, it takes more than a decade to obtain the necessary permits to connect a renewable project in Wyoming to California’s grid.
Indeed, the entire enterprise may be hard to pull off for lack of affordable workers. The plan would never create lots of solid working-class jobs: in today’s manufacturing, robots staff the assembly lines. But America may also struggle to find enough of the short-term construction workers needed to build out green infrastructure. Unemployment is at 3.5%, a 50-year low. More immigration could help fill vacancies, but it is restricted.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joe Biden: US President's beach house in Delaware searched by US Justice DepartmentThe President's personal attorney, Bob Bauer, said in a statement that the Department of Justice (DOJ) was conducting the search with Biden's 'full support and cooperation'.
Read more »
Joe Graf Jr. joins JGR for select NASCAR Xfinity racesJoe Graf Jr. will compete in five NASCAR Xfinity Series races for Joe Gibbs Racing as part of his 2023 fulltime schedule.
Read more »
FBI searches Joe Biden’s Delaware holiday home for classified documents\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
FBI search Joe Biden's Delaware beach house as part of classified document investigationThe FBI are searching US President Joe Biden's Delaware home as part of an investigation into classified documents.
Read more »
FBI searches Joe Biden's Delaware beach house in hunt for classified documentsThe FBI has conducted a search of Joe Biden’s Delaware beach house after classified documents were recovered from another residence linked to the president
Read more »
FBI searches Joe Biden's beach home for classified documentsBREAKING: FBI agents are searching President Joe Biden’s home in Delaware amid an investigation into classified documents found at his other house and former office.
Read more »