Biden's Economic Policy: (How To) Build Back Better

Published: Feb. 5, 2021, noon

America needs a large-scale economic stimulus package, now — in fact, it's essentially an emergency response to the COVID-19 pandemic. Most voters agree on this. Biden's $1.9 trillion plan includes public health funding and $1400 checks among other items. The idea behind big government is that getting Americans out of the struggling situation comes first, cautious spending comes later. However, there is still partisan politics behind passing a stimulus bill. Democrats and Biden need to overcome a Republican challenge either by negotiation, taking up a smaller plan like Susan Collins' $600 billion one, or by using a brute force method like budget reconciliation. 

Once emergency mode is over, then comes his long-term economic vision, one that is in large part based on Andrew Yang's 2020 campaign: capitalism that works for the people. Biden's Buy American and trade policies attempt to resurrect and revitalize the American manufacturing industry that seems inevitably on the decline. Biden is actually surprisingly progressive, just judging by his first weeks in office: looking to invest heavy in infrastructure and innovation, taking workers' side on issues like unions and the minimum wage, supporting concentration-of-wealth measures like higher taxes, and taking further left stances on education than one might expect. After all, he is, as advertised, an old-school Democrat, appealing to Midwestern workers on down-to-earth economic policy, in contrast to the more contemporary brand.

Step 1 is getting stimulus done. We'll see where it goes from there. He does have the benefit of the doubt, though, holding a slim majority approval rating, and trust over the opposition party on economic issues.