It's a matter of Bidenomics!

Coming from the mouth of the horse that voted against Biden's Infrastructure Bill, while spending her worthless time as a representative from Georgia doing nothing worthwhile.

Under President Biden's manufacturing boom, nearly 800,000 new manufacturing jobs have been created, and private sector companies have announced over $480 billion in manufacturing and clean energy investments since President Biden took office.

 

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The White House said Bidenomics has generated more than $500 billion in private investment announcements flowing to the states – much of it in Republican-held congressional districts as companies invest where land is cheap and labor unions lag. Even Republicans who voted against the bills are now vying for credit.

The CHIPs bill alone has sparked some $200 billion in domestic semiconductor manufacturing, according to the Center for American Progress, a liberal think tank, and industry estimates.

IRA’s centerpiece, a $400 billion federal investment to curb climate change, is standing up solar, electric vehicle and battery manufacturing, particularly in the Southeast region where Republicans dominate.

At the same time, provisions in the IRA will allow counties and local governments to tap into federal green energy production tax credits typically used by private entities, enabling them to develop projects on their own.

“What you’re seeing is that counties are kind of the laboratories of innovation,” Mark Ritacco, the chief government affairs officer at the National Association of Counties.

Biden is encouraging Americans to go see for themselves.

“Click onto Invest.gov, put in your location,” he said recently in South Carolina. “You’ll all see projects we’re delivering in communities all across America.”

In many ways, the undertaking reflects Biden’s initial ideas when he took office for the “Build Back Better” agenda, which started as an industrial policy but morphed into a much-more unwieldly package of social programs that collapsed in failure.

Instead, the other three bills came into focus, as Congress surprised the skeptics to deliver legislation to passage.

The bipartisan infrastructure bill approved in 2021 poured money into repaving roads and building bridges, but it also pumped funds into public works projects nationwide.

That included money to upgrade drinking water systems in a nation where millions of Americans still have lead pipes and $42 billion for broadband to connect some 8 million households to the internet – including 271,000 locations in West Virginia where Republican Sen. Shelley Moore Capito fought to ensure connectivity.

“We have a real opportunity to finally bridge the digital divide in West Virginia,” she wrote in a summer op-ed.

While a similar bipartisan effort powered the CHIPS bill to passage, investing $50 billion in semiconductors and science research, Democrats alone muscled the Inflation Reduction Act into law late over steep Republican opposition, which continues to this day.

The GOP-led House has tried to dismantle the IRA law, but as it begins to take hold in communities that may become more difficult.

Gov. Kim Reynolds of Iowa and other Midwestern Republican lawmakers fought to preserve the tax break that home-state ethanol producers are already banking on to upgrade their facilities.

Biden has been increasingly eager to call out the political disconnect. The president announced plans to travel to the Georgia district represented by firebrand Rep. Marjorie Taylor Greene that’s home to a solar plant expansion.

He recently called out opposition from Republican Rep. Lauren Boebert of Colorado, whose district is home to a blade manufacturing plant for wind turbines.

Economist Jason Furman, a former Obama official now at Harvard, acknowledged the pressure the laws put on inflation, but he said they are rapidly focusing private industry investment.

“It does look like all three bills are catalyzing a lot of activity in a sort of larger and more rapid way than I would have expected,” Furman said. “This feels to me the biggest thing that’s happened to the half century.”

 

5% GDP doe 2023? Forecast for U.S. economy gets big retail boost


The Atlanta Federal Reserve estimates the U.S. economy is on track to grow at a frothy 5% annual pace in the third quarter, following a strong report on retail sales. That's up from a previous 4.1%.

 

that's just an one-sided view. you have left out the additional tax revenue stream going to the Gov

the new jobs created will bring in more income tax. more jobs means more disposable income to spend on groceries/movies/vacations/travel. it follows that more sales & gasoline taxes/hotel occupancy tax will be collected.​

 

the CBO data don't account for private investments.

progess made on the bidenomic bills have engendered large private investments, which have lead to more jobs/disposable income, all of which lead to more revenue collection, income/sales/gas/use&occupancy, etc.