The ripple effect of Biden’s Inflation Reduction Act is lapping on Republican shores. An FT analysis of more than 100 clean energy projects part-financed by the $369 billion subsidy package has found that 80 per cent of them are In Republican congressional districts. That doesn’t necessarily mean Republican voters get new jobs and Biden gets the credit, although he’s on a national Bidenomics tour trying to sound magnanimous in districts represented by extremophiles like Lauren Boebert (Colorado) and Marjorie Taylor Greene (Georgia). But it does present sensible Republicans with the dilemma of how to gloat about investment locally when they’ve condemned it as socialistic nationally. And it sets up a fascinating tension over whether the influx of federal and foreign money will move the dial next year, especially in Michigan, Ohio, and Arizona, big recipients and swing states all.
Photograph Getty Images