Big Government Is Set for a Rerun With Biden’s Economic Plan
Big government is back.
Four decades after Ronald Reagan’s philosophy of lowering taxes and shrinking government took hold — culminating in Donald Trump’s 2017 tax cuts — Joe Biden is turning U.S. economic policy in the opposite direction.
Over the past 14 months, Congress passed three pandemic-relief packages that injected almost $5 trillion into the economy. The president, according to his latest plan unveiled Wednesday, will make the case for an additional $1.8 trillion in spending and tax credits on initiatives from education and child care to paid family and medical leave.
