A Reflection on Policy Achievements of Biden/Harris Administration: Building a Foundation for America's Future

The Biden/Harris administration has done something remarkable for the American people. Considering the news circle and so many things grabbing our attention as American people, it can be pretty hard to keep track of what is progress and who is leading or who is responsible for the policies that spur and create the suitable environments for progress in technologies shaping the future by driving innovation and addressing pressing challenges across industries. Moreover, I wanted to highlight the outgoing administration's accomplishments for posterity so they know what they did for the nation. This is my story about the outgoing administration. And another reason is for me. I want to remember who did what for the American people. Who delivered us from the pandemic and worked with the global community to help our nation and world avoid economic disaster. The outgoing administration has implemented several transformative policies for sustainable growth, financial resilience, and more significant equity in America. While challenges remain, these infrastructure, technology, healthcare, climate action, and economic policy efforts have set a strong foundation for the future. Here's an overview of their most impactful initiatives, challenges, and long-term implications.

Infrastructure Law: Rebuilding America's Foundations

The Bipartisan Infrastructure Law, a monumental investment in American infrastructure, is set to modernize roads, bridges, public transit, water systems, and broadband internet with a staggering $ 1.2 trillion (The White House, 2023). This initiative is not just about infrastructure; it's about people. It's estimated to create Two million jobs annually over the next decade, with some projections suggesting that infrastructure projects could generate up to?883,600 jobs by 2030. The?Congressional Budget Office (CBO)?foresees that the infrastructure investments from the?Bipartisan Infrastructure Law?will create approximately?1.5 million jobs annually?over the next decade, strongly focusing on revitalizing underserved communities.

However, implementing this ambitious plan has challenges, such as rising construction costs and labor shortages. Nevertheless, the investments aim to enhance economic mobility, improve public safety, and reduce access to essential services disparities.

Technological Advancement: The CHIPS and Science Act

The CHIPS and Science Act, a response to global supply chain vulnerabilities, has been a game-changer. With over $52.7 billion allocated UPDATED FACT SHEET: Bipartisan Infrastructure Investment and Jobs Act | The White House, this act bolsters domestic semiconductor manufacturing and research. It's not just about chips; it's about jobs. The act aims to reduce dependency on foreign chip producers while creating tens of thousands of high-paying jobs (US Department of Commerce, 2023).

Investments in semiconductor manufacturing are essential for national security, economic resilience, and technological leadership. This policy helps bridge economic disparities by supporting innovation hubs in regions struck by industrial decline. However, overcoming the technological skills gap remains critical for achieving these goals.

Tackling Prescription Drug Costs: The Inflation Reduction Act

The Inflation Reduction Act (IRA) addresses the high cost of prescription drugs by empowering Medicare to negotiate prices, Biden-Harris Administration's Inflation Reduction Act Saves Medicare Enrollees Nearly $1 Billion in Just the First Half of 2024 | HHS.gov and HHS Announces Cost Savings for 54 Prescription Drugs Thanks to the Medicare Inflation Rebate Program Established by the Biden-Harris Administration's Lower Cost Prescription Drug Law | HHS.gov. ?According to the?Congressional Budget Office (CBO), it's projected to save seniors?$25 billion?over the next decade. Notably, the IRA caps insulin prices at $35 per month for Medicare recipients, already helping 1.5 million seniors afford essential medication (Centers for Medicare & Medicaid Services, 2023).

While these policies have reduced out-of-pocket costs, extending similar benefits to Americans not covered by Medicare remains challenging. Future policy adjustments may be needed to ensure broader affordability.

Climate Action: Historic Investments Through the Inflation Reduction Act

The Inflation Reduction Act directed $369 billion toward clean energy projects, carbon reduction, and sustainability initiatives to tackle climate change. Why the US Inflation Reduction Act is an important step in the transition to clean energy | World Economic Forum. It is projected to reduce US greenhouse gas emissions by 40% by 2030 (Environmental Protection Agency, 2023). The administration aims to create over 500,000 green jobs in the coming years by promoting the adoption of solar, wind, and electric vehicles.

However, transitioning to a clean energy economy faces obstacles, such as regulatory hurdles and opposition from specific industries. Continued bipartisan support will be necessary to achieve these ambitious climate goals.

"Buy American" Policies: Strengthening Domestic Manufacturing

The administration's "Build and Buy American" policies emphasize sourcing goods domestically for federal projects to reduce trade imbalances and support American manufacturing. These efforts have increased investment in local industries, benefiting small and medium-sized enterprises (The White House, 2023).

However, critics argue that prioritizing domestic procurement can drive costs and disrupt supply chains. Balancing these policies with global trade commitments remains a critical challenge.

Support for American Families: Expanding Access to Affordable Care

Efforts to expand healthcare access have included extending subsidies under the Affordable Care Act and encouraging Medicaid expansion in states that have yet to adopt it. These measures helped reduce the uninsured rate, with 3 million more Americans gaining coverage over the past two years (Kaiser Family Foundation, 2023).

While these achievements have improved access to healthcare, gaps remain for those in states that have not expanded Medicaid. Addressing this disparity will be crucial for ensuring equitable healthcare access nationwide.

Navigating Economic Challenges: Addressing Inflation and COVID-19

The outgoing administration faced significant challenges, including the lingering effects of the COVID-19 pandemic and rising inflation driven by supply chain disruptions and global economic factors. The Federal Reserve—operating independently—raised interest rates to control inflation, which peaked in 2022 but showed signs of easing by late 2023: the Fed - Monetary Policy: Monetary Policy Report (Branch).

• COVID-19: Thanks to widespread vaccination and public health efforts, COVID-19 infections and hospitalizations have significantly decreased (Centers for Disease Control and Prevention, 2023).

• Migration: While the administration has taken steps to manage border security and streamline asylum processes, the complexity of global migration continues to present challenges (US Department of Homeland Security, 2023).

Despite improvements, inflation remains a concern, particularly in sectors like food and housing. Future policies will need to balance economic growth with cost-of-living pressures.

The Road Ahead: Policies that Benefit All Americans

As the nation transitions to a new administration, it is crucial to recognize that the full impact of these policies will take time to manifest. Economic and social progress is often the cumulative result of efforts across multiple administrations. While issues like high food prices and inflation persist, it is essential to acknowledge the strides made toward economic stabilization and support for American families.

Good policies benefit all Americans, and policies that disproportionately impact marginalized communities ultimately harm the nation. As we look to the future, policies must be guided by inclusivity, equity, and economic opportunity. Building on these achievements will be essential for the incoming administration to ensure continued growth and shared prosperity.

The next administration must be forward-thinking, build on progress, and focus on policies that uplift all Americans. We can ensure that the United States remains competitive globally by promoting inclusive growth, fostering technological innovation, and addressing the climate crisis. A united approach that prioritizes equity and opportunity will drive America forward into a stronger, more resilient future.

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