Republican candidates aiming for the White House have conflicting views on President Joe Biden’s economic policies. While they criticize Biden’s economic record, they also echo some of his ambitious efforts. Florida Governor Ron DeSantis recently unveiled his economic plan, called the “Declaration of Economic Independence,” which includes goals such as achieving higher GDP growth and reining in the Federal Reserve. However, it is noted that more than 13 million jobs have been added since Biden took office, and the unemployment rate is low.
Both DeSantis and former President Donald Trump emphasize American energy independence, but their approaches are expected to mirror Biden’s. Fossil fuel usage has remained steady despite Trump’s push for renewables, and Biden’s strategy to build a more resilient energy supply includes significant investments in solar, wind, and other sources.
Similarly, in terms of Beijing and manufacturing, DeSantis and Trump’s rhetoric aligns with Biden’s “de-risking” approach to reduce dependence on China. While Republican proposals may be more aggressive, replacing Chinese production will likely require a similar framework to Biden’s. For instance, Biden’s CHIPS Act provides substantial support for the domestic semiconductor industry, and Republican plans would likely adopt a similar approach. Overall, despite their criticism of Biden’s economic policies, Republican candidates’ proposals appear to align with some key aspects of Bidenomics.
