Biden’s major 2020 economic promises remain stalled: Analysis

• A new Wall Street Journal analysis examines Biden’s track record of keeping his campaign promises.
• The economy is one category where nearly all of Biden’s major promises remain vague.
• At a standstill are student loan relief, a minimum wage increase and a reversal of Trump’s 2017 tax cuts.

Four years ago, Joe Biden vowed, if elected, to turn around the nation’s pandemic-ravaged economy with aggressive policies such as student loan relief, raising the minimum wage and repealing President Donald Trump’s tax cuts for Americans. I promised. Wealthy.

A Wall Street Journal analysis shows that many of his economic policies remain in limbo as he resumes his campaign.

The magazine notes that Mr. Biden has achieved two ambitious economic goals. He signed a massive $1 trillion infrastructure bill and a bill that allows the federal government to negotiate lower prescription prices for Medicare recipients.

However, most of Biden’s promised economic policies remain in limbo, largely due to opposition in Congress, the newspaper said.

Biden’s 2020 campaign promise to roll back Donald Trump’s 2017 tax cuts for corporations and the wealthy was blocked in the Senate, and Biden announced that the child tax credit under the Pandemic Stimulus Act would be rolled back. The exemption expired at the end of 2021.

Biden’s proposal to cancel up to $20,000 in student loan debt for federal borrowers was overturned by the Supreme Court in June, but finding other paths to debt relief remains a priority for Democrats. It is.

Congress also announced Biden’s 2020 campaign promise of 12 weeks of paid family and medical leave, a plan to spend $775 billion over 10 years on child and elder care, and an increase in the federal minimum wage to $15. has been frozen due to a failure.

The Wall Street Journal’s analysis examines the extent to which Biden has kept his key 2020 campaign promises in the areas of the economy, immigration, foreign policy, climate, criminal justice and guns.

Biden’s greatest success in following through on his key campaign promises was on climate.

During his term as president, Biden has followed through on his pledge to rejoin the 2015 Paris climate accord and cancel the permit for the Keystone XL pipeline. His $2 trillion Inflation Reduction Act included new spending on renewable energy and incentives for electric vehicles.

One of the country’s key climate change pledges, to halt all new offshore drilling, was broken last year by recent federal oil and gas lease sales in the Gulf of Mexico.