.jpg){kind=avatar}
Biden’s goal is to address what many Democrats see as chronic underfunding of public goods in recent decades, which they argue has stymied growth, exacerbated middle class stagnation and bred populist resentment. The plan also reflects Biden’s belief that a more aggressive industrial policy will make it easier for the US to compete in the global economy — and face off against strategic rivals, particularly China.
“Biden has made this [investment plan] a very significant part of what he’s about in the White House and I think it is a big and a heavy lift,” said Byron Dorgan, the former Democratic senator from North Dakota and a senior policy adviser at Arent Fox. “The difficulty is how you do it, and, more importantly, how you pay for it.”
https://www.ft.com/content/304cb7fd-a1ef-4dd9-a825-1395cf842e1a
