Biden Marks Anniversary of Signing Major Climate, Health and Tax Law
WASHINGTON (NEWSnet/AP) — The White House is ramping up its efforts to illustrate the impact of the Inflation Reduction Act, President Joe Biden’s signature climate, health care and tax law, by explaining how Americans have benefited.
That sweeping package, along with the bipartisan infrastructure law and a massive bill that bolsters production of semiconductor chips, make up the core of what the White House has branded “Bidenomics." It's aggressively promoting the concept as Biden seeks to improve his standing with voters amid his re-election campaign.
Those steps include rolling out a new online tool on invest.gov that relays stories from across the country about the impact of the president’s economic agenda.
The White House is taking these efforts to connect what they say is a popular economic agenda with the incumbent president, as polls show a majority of voters consistently disapprove of Biden’s handling of the economy even amid signs of a U.S. economic upswing.
The inflation rate has cooled over the past year to a more manageable 3.2% annually, while job growth has stayed solid and the economy has avoided the recession that many analysts said would be needed to bring down prices. But the evidence of economic strength has yet to translate into political gains for Biden, who has devoted the past several weeks to traveling the U.S.
Aides say the mood of the American electorate has been dampened by outside forces such as a once-in-a-century pandemic and the time it takes for laws signed by Biden to have an impact.
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