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Democrats are embracing Bidenomics. Both parties say that’s a good thing.
As President Joe Biden steers toward his re-election campaign with a tour promoting his economic record, congressional Democrats are pointing to cooling inflation, low unemployment, a cap on insulin prices, and a steady roll-out of infrastructure projects as evidence that their agenda has delivered benefits for everyday Americans — and will continue doing so as next year’s races for the White House and Congress unfold.
The problem for Biden and battleground Democrats facing tough re-elections: Polls suggest that after three years of high inflation, most voters aren’t sold on Bidenomics.
Senate Republicans asked about “Bidenomics” immediately quoted the president’s polling average, as compiled by the web site Real Clear Politics: fewer than 39% of voters approve of his work on the issue.
“It’s amusing that he’s stuck his name on the policy and he’s not that popular himself, even among Democrats,” said Sen. John Cornyn (R-Texas).
Democrats countered daunting polling by arguing that voters will increasingly see the upside of their work as time goes on, and they hope, lower inflation becomes normal again. Democrats are planning to highlight those results with events built around groundbreakings for roads and bridges, broadband expansion, and other projects over the coming August recess and throughout the 2024 cycle.
“Not all of it you can feel right away,” said Rep. Susan Wild (D-Pa.), who represents one of the country’s most closely divided districts. “But I do think Bidenomics is exactly what he should be talking about.” Jon Tamari highlights how both parties are campaigning on the pitch.
- The president will give remarks about AI around 1:30 p.m. at the White House, where companies including Microsoft, Google, Amazon, Meta, and OpenAI are set to voluntarily commit today to responsibly develop and deploy AI at the administration’s request.
- The House and Senate return on Tuesday.
Crypto Bill, Health Fights, Ukraine, and More from the Hill
Key House Republicans formally unveiled a bill to establish rules for oversight of crypto markets in the wake of a recent court ruling that is viewed by some observers as favorable for the sector.
Policy fights between Democrats and Republicans have put the Senate in the lead on pandemic preparation legislation and the House at the forefront of tackling the nation’s overdose crisis.
A Senate panel on Thursday trained its collective, bipartisan ire on the organization that runs the nation’s organ transplant system and vowed to move quickly on passing legislation to help end the group’s monopoly power.
The Senate showed deep support for security assistance to Ukraine as Republicans banded with Democrats to defeat a provision by Sen. Mike Lee (R-Utah) that sought to limit the amount of aid sent to the country.
Politics, Power, and 2024
If Donald Trump returns to the White House in 2025, he’ll bar babies born in the US from automatically claiming citizenship, ban transgender people from the military, hold elections for school principals, and swiftly end the war in Ukraine.
Former Vice President Mike Pence’s 2024 campaign is ramping up its digital outreach to Republican donors to avoid the embarrassment of missing the party’s first primary debate next month.
Miami has become the economic envy of cities around the US, but wages aren’t keeping pace with inflation and record rent growth, and workers of color can’t keep up.
Chips Snag, Drilling Costs, and More from The Biden Administration
Biden has ordered the creation of a working group to study ways to circumvent future brinkmanship over the debt limit. The effort will consider actions Congress can take as well as what the administration is calling “Constitution-based” solutions to avert future debt ceiling standoffs, according to a statement obtained by Bloomberg News
Biden risks a major setback to one of his signature legislative achievements after Taiwan’s biggest chipmaker said it was forced to delay production at its marquee project in Arizona, a key battleground state in next year’s election.
The Biden administration moved Thursday to raise royalties and other fees for companies developing oil and gas on public lands, changes it said were needed to ensure a fairer return to the taxpayer and discourage speculators.
Secretary of State Antony Blinken will visit New Zealand July 26-27 for bilateral meetings and to attend the FIFA Women’s World Cup.
Beijing-linked hackers accessed US Ambassador to China Nicholas Burns’ email account, The Wall Street Journal reports.
Treasury Secretary Janet Yellen’s push to elevate economic ties with Vietnam is drawing fire for seeking to strengthen US supply chains by replacing one repressive country with another.
What Else We’re Reading
A potential strike by 340,000 unionized UPS workers threatens to unravel progress in tackling two of the US economy’s biggest hurdles in decades: inflation and supply-chain disruptions.
American gun manufacturers’ immunity from lawsuits by other countries for the criminal misuse of weapons on foreign soil hangs on whether the First Circuit allows a lawsuit brought by Mexico to move forward.
The nation’s capital could soon join the latest wave of state and local jurisdictions with pay transparency laws aimed at reducing income disparities, which government data suggest are worse for Washington, D.C.’s workers of color than in nearly every state.
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