What the law’s accomplished so far, and the work that remains.

The Roosevelt Rundown features our top stories of the week.
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President Joe Biden delivers remarks on the first anniversary of the Inflation Reduction Act on August 16, 2023.


** The IRA Is Already Shaping a New Economy
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One year ago this week, President Biden signed the Inflation Reduction Act into law.

Already, we’re seeing significant economic benefits: Public investment has helped spur private investment ([link removed]) in manufacturing construction to historic levels, and over 170,000 ([link removed]) clean energy manufacturing jobs have been created so far.

And that’s only the beginning, as Roosevelt’s Todd N. Tucker explains.

“In the decade to come, implementation of this law will shape US markets and livelihood in ways that will ripple for generations,” Tucker writes.

More work remains, including investing in the care economy, boosting unionization rates, and using tax policy to address wealth concentration.

But one year into the IRA, we’re seeing what it looks like when government embraces its role in driving the markets and industries we need to decarbonize our economy.

Read more about the benefits unlocked by the IRA. ([link removed])


** We Need a Care Work Industrial Policy
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It’s also been a year since care investments were struck during IRA negotiations, and more than 230,000 care workers are still missing from the labor market.

That’s hurting both care workers’ well-being and economic growth, Roosevelt’s Alí Bustamante argues in a new brief. ([link removed])

“As implementation of the IRA continues, care work still deserves to be one of the administration’s primary issues,” Bustamante writes for the blog. ([link removed])

“In the absence of an industrial policy that bolsters care work, investments in various industries and the broader economy will be severely compromised, as will the economic security of care workers.”

Learn more in “The Macroeconomic Implications of Care Work.” ([link removed])


** What We're Talking About
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** Join the Conversation
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** What We’re Reading
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Biden and America’s Big Green Push ([link removed]) - New York Times

5 Ways the IRS Funding Boost Is Paying Off ([link removed]) - Washington Post

The Pay Gap for Moms Is Bad. It’s about to Get Worse. ([link removed]) - Ms. Magazine

Why Childcare Prices Are Rising at Nearly Twice the Overall Inflation Rate [paywall] ([link removed]) - Wall Street Journal

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