Another Biden Administration Regulation Will Increase Costs and Promote More Inflation

The Biden administration’s revision of the Davis–Bacon Act of 1931 may have detrimental effects on the economy, inflating the costs of federal projects. This act, which determines prevailing wages on public works projects, now allows state and local governments to set these wages. Such a shift seems poised to benefit states with union-heavy influences, potentially skyrocketing costs. This extended mandate will impact projects like broadband and solar panels that are partly federally funded. This inflationary move, combined with other financial policies under this administration, could push the country into an economic pitfall. The continued trajectory of such policies may set the stage for a prolonged inflation nightmare.