Private companies have spent more than $1 trillion in the U.S. on industries such as clean energy and semiconductors because of President Biden’s economic agenda, the White House said Monday in a memo.
The memo was issued to reporters as part of the administration’s efforts to tout Mr. Biden’s accomplishments as his time in office winds down. White House officials have said Mr. Biden will look for opportunities to talk about his legacy through media interviews, public appearances and memos to reporters.
However, it remains unclear how intensive Mr. Biden’s efforts to defend his legacy will be. Throughout his administration, the president has steered clear of lengthy sit-downs with journalists, instead preferring shorter, more controlled interviews with friendly outfits.
The memo issued Monday appears to be the first step in laying the groundwork to boost Mr. Biden’s legacy.
Although the memo does not name President-elect Donald Trump, it is clearly aimed at drumming up support for parts of Mr. Biden’s agenda that the incoming administration is likely to put on the chopping block.
“If future administrations continue to implement at the pace we have, people across the country will enjoy the benefits of safer water, cleaner air, faster internet and smoother commutes,” White House Deputy Chief of Staff Natalie Quillian wrote.
Ms. Quillian wrote that the $1 trillion in private investment “represents only a fraction of the full impact” of Mr. Biden’s agenda. She noted many benefits from Mr. Biden’s three big domestic spending legislative victories — the CHIPS & Science Act, the Bipartisan Infrastructure Bill and the tax, climate, and health law dubbed the Inflation Reduction Act.
For example, the CHIPS & Science Act — a 2022 law aimed at bolstering semiconductor manufacturing in America — spurred more than $400 billion in private investment that will create at least 125,000 jobs, according to the memo.
Mr. Trump has frequently criticized the CHIPS Act. During an interview with podcaster Joe Rogan, Mr. Trump described it as “so bad” and said higher tariffs could accomplish the same goal instead of forking over taxpayer dollars to billionaire companies.
Mr. Trump has pledged to impose tariffs ranging from 20% to 60% when he takes over in January.
The White House also credited the Inflation Reduction Act with over $119 billion of private investment in electric vehicles and batteries and $122 billion in clean power.
Mr. Trump has pledged to rescind any unspent funds under the law and vowed “to terminate” as much of it as he can, calling it a “waste of money.”
Ms. Quillian closed out the memo by citing a variety of studies that show Mr. Biden’s economic agenda is popular with a wide swath of Americans, despite the president’s approval rating lingering in the high 30% to low 40% for much of his administration. Inflation and unhappiness with the economy were cited by voters as the chief reason they backed Mr. Trump in the election instead of Mr. Biden’s hand-picked successor, Vice President Kamala Harris.
The memo cited a Reuters/Ipsos poll that found 88% of Americans supported the bipartisan infrastructure law and a DataProgress survey that found 8 in 10 Americans approved of Mr. Biden capping insulin at $35 a month through the Inflation Reduction Act.
“These programs and projects mean real benefits for people across the country,” Ms. Quillian wrote.
• Jeff Mordock can be reached at jmordock@washingtontimes.com.
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