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Breaking down an $80 billion surge in place-based industrial policy

brookings.edu · 1,977 words · saved by 1 readers

The 117th Congress may be coming to an end, but its major legislation continues to reverberate. Those laws—the American Rescue Plan Act (ARP), Infrastructure Investment and Jobs Act (IIJA), CHIPS …

The 117th Congress may be coming to an end, but its major legislation continues to reverberate. Those laws—the American Rescue Plan Act (ARP), Infrastructure Investment and Jobs Act (IIJA), CHIPS and Science Act, and Inflation Reduction Act (IRA)—stand out for their sheer number of sizable programs, with some $3.8 trillion in total spending. But beyond this historic scale, three of the bills—ARP, IIJA, and the CHIPS and Science Act—merit special attention for another reason: the significant dollar investment they’re making into place-based industrial policy. This moment is important. After…

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