The successes and failures of the Joe Biden administration in the efforts to implement the anti-crisis social package

 
PIIS020736760020585-2-1
DOI10.31857/S020736760020585-2
Publication type Article
Status Published
Authors
Occupation: Leading researcher
Affiliation: Primakov National Research Institute of World Economy and International Relations (IMEMO), Russian Academy of Science
Address: , 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation
Journal nameObshchestvo i ekonomika
EditionIssue 6
Pages100-115
Abstract

The article highlights the first steps of US President Joe Biden, including emergency measures intended to offset the negative effects of the pandemic on the labor market and employment. A special section is devoted to conceived for the future infrastructure and social plans of the White House under the slogan “Build back better”; in addition to updating the road transport network, the plan provides the restoration and construction of housing, the provision of paid sick leave and child care, financial ensuring of universal preschool education, increasing student grants, expanded health care programs and creating millions of jobs by increasing the tax burden on medium and large businesses and highly paid Americans. A separate section is devoted to factors influencing the spread of freelancing – free and not tied to a location form of employment in the context of the formation of a new economic model. Biden's social and economic policy in general can be described as a change of eras: from Reaganomics, with its perception of the state power system as "part of the problem, not the solution," back to the Keynesian model, the strengthening of the role of state regulation and budget financing. The author maintains that Franklin Delano Roosevelt serves as a role model for the current US president. The question that naturally arises in this connection – whether Biden can align with F.D.Roosevelt – involves an analysis of the balance of power in the US Congress, given the unforeseen obstacles that the White House has faced in trying to get approval of social plans in the Senate even before the midterm elections this year to the US legislature.

KeywordsAmerican Jobs Plan, unemployment benefit, community colleges, the American Rescue Plan, shelter-in-place, gig economy, freelancers, American Family Plan, Medicare, corporate income tax, budget reconciliation
Publication date24.06.2022
Number of characters36315
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