Radical centrism. Joe Biden's plans. Wow
An astonshing adical policy experiment: details of America's policy revoltion begin to emerge.
Chris Johns
The American Jobs Plan: A much bigger deal than you might think. It does much more than it says on the tin.
Joe Biden has released an innocuous sounding ‘fact Sheet’ about his economic plans (here). Its ambition is vaulting: ‘…this is no time to build back to the way things were. This is the moment to reimagine and rebuild a new economy….[we] will create millions of good jobs, rebuild our country’s infrastructure and position the US to out-compete China….[we] will invest in America in a way we have not invested since we built the interstate highways and won the Space Race’.
Wow.
The first thing I would say is that Europe is essentially ignoring this bold and radical adventure in policy making. We have pretended it is business as usual. When we deign to notice, our politicians downplay both its significance and size. On at least two occasions, Irish finance Minister Pascal Donohue has suggested it isn’t that big a deal, mostly because Europe has a social safety net and America doesn’t. So the spending gap, on this logic, is not as big a difference as first appears. This is nonsense.
Biden promises to fix the highways, gradually crumbling since Eisenhower built them 70 odd years ago. And not just the interstates - other roads, including Main Streets, are up for repair. Bridges will be rebuilt. Transport infrastructure including stations, buses and airports will be brought into the 21st century. Clean drinking water, schools, electric cars, the electricity grid and high speed broadband are all on the list. He’s going to go after ‘idle property’. And much else besides.
Energy efficiency is part of Biden’s green agenda. Retrofitting of homes and commercial premises will be done. There is so much more.
Should any EU citizen ask ‘where is our plan?’ they will find Europe’s politicians looking the other way. The paucity of the recently announced Irish government rural development plan is thrown into sharp relief.
There’s more.
Biden is going after corporation tax shelters. Strike a chord anyone? There is a ‘Made in America Tax Plan’ designed ‘to make sure corporations pay their fair share’. A new tax rate of 28%. A minimum tax of 21%, calculated on a ‘country-by-country basis so it hits profits in tax havens.’ Biden wants to stop US companies dodging taxes by situating their HQ’a in low tax jurisdictions.
The ‘Fact Sheet’ is in truth a radical manifesto for a new America. It really is big news. Europe should, but probably won’t, sit up and take notice.
If he could do something about the gun culture and provide decent health care for all Americans, the US will become a rather nice place to live. Should even half of all of this be delivered.