Which brings us back to Biden and Trump. Both talk the talk about reshoring industry and revitalizing the sector, but only Biden has walked the walk. By virtue of the tax credits for factories that will build electric vehicles and other components of a green economy, credits created by the Inflation Reduction Act, Biden has resurrected the long-moribund factory-construction industry, spending on which increased by 73 percent in 2023 over the previous year. Those factories are going up, moreover, in the very regions that private capital had long abandoned, the
very regions that Americans, by the evidence of this and other polls, want the government to revive. Trump, of course, has consistently opposed the Inflation Reduction Act and vowed to hasten its repeal if elected. To be sure, factories take time to come online, but it takes no creative genius to envision Biden campaign ads showing factories under construction, featuring the workers building them, and contrasting those images with the vacant lots that are Trump’s industrial legacy and his vows to curtail the only upsurge in American industrial capacity in many decades. Biden will need to campaign on a lot more than that, of course, but while there are very real limits on his ability to run on Bidenomics, this contrast is so visible, so tangible, that it surely merits some audible horn-tooting.
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