The manufacturing renaissance that the Inflation Reduction Act created is one of the greatest stories in modern economics. For decades politicians have promised to bring manufacturing jobs back to America and rebuild our country's industrial base. No politician has talked more about this than Trump. Yet, during Trump's first presidency, manufacturing spending grew by just 5%. Under Biden, it grew by 279%. Why? Because he and Democrats did more than just *talk* about bringing jobs back. They passed policies like the Inflation Reduction Act, CHIPS act and Bipartisan Infrastructure Bill that encouraged companies to invest in America. Now Trump and Republicans are trying to repeal those policies with their "Big Beautiful Bill Act." This bill—which will increase the deficit by trillions—provides *zero* policies to encourage companies to invest in America. And it guts all the policies that led to the recent manufacturing boom. This bill is economic self-sabotage. It will be the end of the manufacturing boom in America. And it's up to all of us to make sure it doesn't pass.
Oo o o, lm.o.oo. ..o.o okno
That's an impressive chart. I had no idea investment in manufacturing surged so much under Biden. Amazing.
The speed of the IRA to bring manufacturing to the U.S. was impressive. Examples like Qcells: "In January 2023, Qcells, a renewable energy solutions provider, announced a $2.5 billion investment to significantly expand its solar module manufacturing operations in Georgia. This investment included a new fully integrated solar supply chain factory in Cartersville and expansion of the existing factory in Dalton, Georgia. The expansion was expected to create over 2,500 new jobs and more than double Qcells' production capacity in Georgia by the end of 2024." This also served to establish manufacturing skills that the U.S. currently.
Is this result robust to including plant and equipment investment?
Bad jobs that now need to be redeployed. Never again!
Investors hate chaos and uncertainty.
This bill was written by Iran, China or Russia. It crushes our ability to compete in the new Industrial Revolution if we have no power. And if we ruin our names, we actually can’t service our national debt. If we have a leadership position we can. Dems and whatever is in power now are the same on this point. Idiots. “They” took our jerbs, as the saying goes. Only problem is there aren’t any “jerbs.” Construction work is being gutted by the cuts. In reality, China helps a brother (America) out by lending its money to us so we can make stuff that Chjna’s people make so that we an have a better standard of living than them. Thanks, china. Why do we want to make low skill robot produced goods in America? If china wants to waste human capital on people making commodities, fine, but why should we. If riobots dont make solar, that’s a waste. Our costs are higher than everywhere else for solar because of tariffs designed to protect fictitious jobs. We do, however, make good jobs when people build infrastructure like we have been,
Not trying to be political, but these are real jobs; as someone in the manufacturing industry building projects, I can tell you that during the last 4 years saw a big uptick in midwest states for these jobs. Several projects that were construction ready have been paused or major layoffs. The anecdotal feeling I get around my different communities is more layoffs in 2025, whether that is fueled by the change in investments or the AI or the offshoring of engineering jobs to India and Malayasia I don't know. Just reporting what I see. And this chart seems to indicate similar outcomes.
What does the 20,000 represent?
Developing and investing in the future of infrastructure
5dHow much of that manufacturing growth 2020-2024 was in businesses that rely on gvt tax credits to be economically sustainable?