A year ago, defying predictions that President Biden’s agenda was dead in the water, Congress passed the Inflation Reduction Act.
is sort of the Holy Roman Empire of legislation — as in being neither holy, nor Roman, nor an empire.
Along with the CHIPS Act — Creating Helpful Incentives to Produce Semiconductors — the federal government is suddenly engaged in large-scale industrial policy, promoting particular sectors as opposed to the economy as a whole.
Incidentally, I wish Congress would pass the ETAA — End Tacky Acronyms Act.
And there were members of Congress who wanted America to promote what they saw as cutting-edge companies, including video game producers.
Persons:
Biden’s
Organizations:
Semiconductors, Atari Democrats
Locations:
America