Welcome

Big Government Is Set for a Rerun With Biden’s Economic Plan (2)

April 28, 2021, 6:16 PM

Big government is back.

Four decades after Ronald Reagan’s philosophy of lowering taxes and shrinking government took hold -- culminating in Donald Trump’s 2017 tax cuts -- Joe Biden is turning U.S. economic policy in the opposite direction.

Over the past 14 months, Congress passed three pandemic-relief packages that injected almost $5 trillion into the economy. The president, according to his latest plan unveiled Wednesday, will make the case for an additional $1.8 trillion in spending and tax credits on initiatives from education and child care to paid family and medical leave.

WATCH: President Joe Biden will unveil a sweeping $1.8 trillion plan Wednesday aimed at expanding education and tax cuts.
Source: Bloomberg)

And that’s on top of ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.