Investing in all of America: The Biden-Harris administration’s place-based approach

Federal economic policies have often been designed to work from the top down without regard to place. This insufficient attention to place has left too many communities behind. Evidence shows that place-based policy is an important component in rebuilding factories and small businesses, and access to the American Dream. The Biden-Harris administration’s signature economic policies—namely the American Rescue Plan Act, Infrastructure Investment and Jobs Act, CHIPS and Science Act, and Inflation Reduction Act—are aimed at raising the productive capacity of the U.S. with special incentives targeted to communities that could most benefit from new growth. By supporting local leaders’ tailored, inclusive economic efforts, this approach signals an important advancement in place-based policy.

On Monday, January 22, Brookings Metro hosted White House National Economic Advisor Lael Brainard, who outlined the Biden-Harris administration’s focus on supporting communities that have been left behind, and the direction of the economic agenda in 2024.

A moderated discussion followed with Senior Fellow Mark Muro.

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