Evaluating Biden’s First Year
January 20, 2022
Big wins and big obstacles. But progress is still possible.
The Roosevelt Rundown features our top stories of the week.
Biden’s First Year
We’ve seen a new approach to policymaking—with an overdue focus on full employment, climate, care work, and racial equity.
Public power is on the rise, with this week’s COVID test and mask announcements showing what government is capable of.
And corporate power is facing new resistance, from progressive leaders who are reshaping agencies like the Securities and Exchange Commission (SEC) and Federal Trade Commission (FTC).
The major hurdles of the last year are still with us: The filibuster continues to obstruct voting rights legislation and essential climate investments, among other progressive priorities. Congressional stalemates have allowed milestone policy achievements, like the expanded Child Tax Credit, to lapse. Antidemocratic institutions are posing threats to democracy itself.
Those existential challenges—which have no easy solutions—must remain a central focus of this administration. But there’s more they can do now, Suzanne Kahn writes.
“It’s vital that the Biden administration act quickly where it can address its priorities—from racial equity to the climate crisis—because Congress has proven it cannot.”
Toward Greener Industry
One area where Biden can go further—greater use of the Defense Production Act (DPA)’s powers.
Over the last two years, use of two particular DPA powers—priorities and allocations—has expanded significantly, Roosevelt’s Todd N. Tucker explains. The DPA has helped fight this pandemic and get COVID tests and vaccines distributed.
But it can do a lot more—especially for climate.
Right now, President Biden could use these powers to catalyze green industry. To bolster supply chains. To expand global vaccine production.
Personnel Is Policy
President Biden’s latest Federal Reserve nominations, if confirmed, would be part of the most diverse Fed in our nation’s history.
And Lisa Cook—vice chair of Roosevelt’s board of directors—would be the first Black woman to serve on the Fed’s Board of Governors.
“Lisa is a pathbreaking macroeconomist and expert on the intersection of race, gender, and the economy,” Roosevelt President and CEO Felicia Wong tweeted after the nomination announcement.
“She’s also a thoughtful, seasoned leader, whose insight and decades of experience will serve the Fed Board well during these challenging times.”
What We’re Reading
Democrats Moved the Filibuster Overton Window – The Atlantic
Stop Saying Student Debt Relief Is for the Rich – Bloomberg
Big Tech Freaks Out about Bipartisan Crackdown – The American Prospect