Build Back Better is probably done for good, but President Joe Biden still has a chance to salvage his agenda. Beneath the accounting gimmicks and corporate pork was the kernel of a fine idea: restoring economic prosperity through policy-induced productivity boosts. This can be a winner for the Left, just as it was a generation ago for the Right. It’s time for a concerted push for supply-side liberalism.
Supply-side economics is usually associated with a conservative approach to tax policy: Sometimes cutting tax rates results in greater tax revenue. But we shouldn’t reduce supply-side economics to a public finance quirk. Its true message is much broader and more powerful. Supply-side economics is about economic growth, which means increasing the pie for everyone.
