There can be little doubt that many Republican lawmakers voted against their constituents’ economic interests in supporting US President Donald Trump’s “One Big Beautiful Bill.” That outcome holds an important lesson for students of political economy, who typically assume that interests are self-evident.
CAMBRIDGE – Among the disasters of US President Donald Trump’s “One Big Beautiful Bill,” one is particularly stinging for political economists. The bill radically phases out the clean-energy subsidies introduced during President Joe Biden’s administration three years ago. These subsidies were considered by many as immune to a change of presidents since they created new jobs and profit opportunities for firms in traditionally Republican-voting “red” states. As allergic as the Trump-controlled Republican Party is to green policies, conventional wisdom went, it would not dare take away these benefits. But then it did.
Read more here.