The first in a series of interviews with business leaders on the 2022 midterm elections.
Adam McKay, the writer-director, has never been a fan of President Joe Biden.
The Oscar-winning writer and filmmaker backed Bernie Sanders and Elizabeth Warren in the past presidential race, and while he supported Biden in the general election, he is uncertain that his presidency would bring about genuine change in politics due to the flow of special interests and money.
McKay, though, stated in an interview that Biden’s unilateral action to cancel student debt startled him.
He believes the Democrats have an outside chance of preserving their House majority and a stronger chance of holding the Senate.
McKay expressed skepticism about the Inflation Reduction Act, the health and climate law that is a cornerstone of Biden’s agenda, shortly after it was signed, claiming that it did not go far enough. The measure imposed pricing limitations on the price of insulin for Medicare patients, but not for the general public, he pointed out.
“I’m not performing backflips, but if I could do one more thing, that would be great.” Perhaps it is the child tax credit or anything else that does not appear to have been written by billionaires and corporate interests. “They might be able to pull it off,” McKay added.
The Inflation Reduction Act was enacted by Democrats using Senate reconciliation procedures, which allow some budget items to pass with a simple majority and avoid having to reach a 60-vote threshold to overcome a filibuster threat.
Last year, the Senate parliamentarian rejected an attempt to include a minimum-wage rise in the coronavirus relief package, but some members have advocated for seeking a $15-per-hour increase in other ways.
