The Democrats' Favorite Offset

Reviews of President Biden’s twenty months in office have become noticeably more upbeat in the wake of congressional approval of several consequential bills. Less noticed is the improbable role Trump administration officials and pharmaceutical companies played in facilitating this agenda. They unwittingly created a large and illusory funding pool that Congress tapped to ease the passage of three separate measures.

Over the summer, the president has signed into law the most significant new gun acquisition restrictions in several decades, which passed with bipartisan support, and the Inflation Reduction Act, with provisions subsidizing health insurance and restricting drug prices. In 2021, Congress also approved a bipartisan infrastructure spending bill.

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