This article, sponsored by Americans for Limited Government, discusses how Joe Biden’s economic policies are benefiting China at the expense of America. When Donald Trump criticized Biden for putting China first and harming the United States, mainstream media and Biden’s supporters tried to fact-check Trump’s claims. However, upon closer examination, it is evident that Biden is indeed favoring China over America, as seen in policies like the Inflation Reduction Act (IRA).
The IRA, touted as a solution to inflation, is actually enabling China by allowing their government-owned industries to benefit from American tax credits. Even Democrats like Sen. Joe Manchin have criticized the IRA, especially its Clean Vehicle Credit which is being exploited by China. Additionally, the IRA is funding these giveaways to China by cutting Medicare for seniors, impacting crucial healthcare programs.
Furthermore, proposed expansions to the IRA threaten the U.S. biopharma industry by implementing government price controls on prescription drugs. These controls could lead to job losses and hinder the development of new medicines, jeopardizing the health and well-being of Americans.
In conclusion, Biden’s economic program is indeed benefiting China at the expense of America, as highlighted by Trump. The article rates Trump’s claim as true, emphasizing the detrimental effects of Biden’s policies on American jobs, healthcare, and economic independence.
