The American Rescue Plan is the inverse of Trump’s tax cut insofar as it radically distributes income in a downward direction, not upward to the 1 per cent. Unlike the tax cut, not a single GOP senator voted for it. Nothing in the last half century approaches it in its broad and egalitarian sweep.
No less importantly, it goes against the grain of the governing and economic philosophy of the past 4 decades that systematically withdrew government from the provision of public goods like education, health care, jobs and unemployment relief, welfare, aid to city and state governments, public housing, etc., while giving free rein to the “magic of the market.” Biden and Democrats said they were going to go big. And they did conceptually and practically.
In short, it’s a BFD!
