Thursday, May 1, 2025
Private investment
Both Biden and Trump agreed that bringing home jobs to America (reshoring) was good for the USA. Biden with his America Frist plan and Trump with MAGA have pushed for reshoring. Trump started things in his first term by placing tariffs on China and Biden added new tariffs. Next Biden passed the CHIP Act and the Infrastructure and Jobs Act which promoted American jobs. Trump has followed up with tariffs designed to make products made in America more competitive. So far foreign and domestic companies have pledged more than $5 trillion dollars to invest in US manufacturing. Biden spent $2 trillion of government money which adds to the deficit and causes inflation while spending private money will do neither. Private companies are even setting up their own power systems to ease the stress on the grid. This is the capitalist system at work. Government should make things easier for private companies by using regulations and tax policies in ways that promote efficiency.
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