The Biden Economy

[whell]

Originally Posted by Mark B

If pressure is felt by business it's self-imposed. Have you read the Chips Act?

https://www.commerce.senate.gov/serv...1-493822686BCB

Mark -

My question refers to two different threads: this one and the one linked in another post above. That thread was about the prior administrations' success or failure in enticing businesses to keep/return manufacturing in the US. The effort was not linked to a specific bill and did not target a specific industry like the CHIPS Act.

I'm not being specifically critical of the CHIPs ACT. I'm wondering why Democrats, who are typically not in favor of "corporate welfare" are now in favor of it.

It's not just the CHIPs act either. The infrastructure bill that was passed earlier (i.e., government funds flowing to broadband service providers), and the recent so-called Inflation Reduction Act (i.e, $1.5 B to the oil and gas industry), all contain what used to be called "corporate welfare".

Just curious about what has brought about this significant course change for Dems on government funds flowing to private businesses?