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By Josh Boak and Zeke Miller

The Associated Press

WASHINGTON 鈥� All that鈥檚 left is for President-elect聽Donald Trump聽to put his name on it 鈥� if he wants.

Trump won the White House reportedly in large part because of voters鈥� frustration with high prices and a sense that the United States needs major changes. But when he enters office in January, Trump will inherit an economy primed for growth.

The unemployment rate is low, inflation is easing, and President Joe Biden鈥檚 administration has teed up a ready-made list of聽infrastructure projects聽that could go from possible to reality over the next several years. There鈥檚 the TSMC computer chip plant in Arizona, the new Hyundai electric vehicle factory in Georgia and a modernized I-375 in Michigan, among thousands of projects under way that will take years to complete.

So, it could be Trump, rather than Biden, who gets to tell Americans that he built the country back better 鈥� if he decides to let the projects proceed, that is.

Biden acknowledged last week that the positive economic impacts from his policies would occur after his term ends.

鈥淢uch of the work we鈥檝e done is already being felt by the American people, but the vast majority will not be felt, will be felt over the next 10 years,鈥� he said in the Rose Garden. 鈥淚t鈥檚 going to take time, but it鈥檚 there. The road ahead is clear.鈥�

Construction is ongoing

While on the campaign trail, Trump railed against Biden鈥檚 record; however, he has offered few details on which initiatives he might scrap. Trump in September said that he would 鈥渞escind all unspent funds under the misnamed聽Inflation Reduction Act鈥� and said on Joe Rogan鈥檚 podcast that tariffs would do more for manufacturing than the funding provided by the聽CHIPS and Science Act.

But Biden aides privately told The Associated Press that they expect Trump to usher the planned projects and take credit for the accomplishments, just like the Republicans in Congress who鈥檝e celebrated plant openings and infrastructure developments in their districts after voting against them.

The Biden administration has spent millions of dollars to put up road signs to promote his role in the projects; all Trump would need to do is relabel them with his own name. Biden aides feel confident that Trump won鈥檛 want to cut programs that are helping states he won in this year鈥檚 election even if Republicans try for a token repeal of some provisions to help fund some of their own tax reduction plans.

When asked about this possibility, Karoline Leavitt, spokeswoman for the Trump-Vance transition, said: 鈥淭he American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. He will deliver.鈥�

Natalie Quillian, a deputy chief of staff for the Biden administration, said that its programs are already starting to make a positive difference for the economy.

鈥淲e have already announced investments for 70,000 infrastructure and clean energy projects, catalyzed nearly $1 trillion in private sector investment, lowered prescription drug prices, and created 1.6 million construction and manufacturing jobs,鈥� she said. “Over the coming months, we will continue to run through the tape and ensure Americans benefit from this president鈥檚 agenda for years to come.鈥�

The economy is improving

Trump is also inheriting by many measures an increasingly healthy economy, despite his claims that conditions are miserable.

The unemployment rate is a healthy 4.1 percent, inflation is 2.4 percent, and the Federal Reserve may continue to cut its benchmark rates to support additional growth. Federal Reserve Chair Jerome Powell last week summarized the situation by saying the economy is 鈥渟trong overall.鈥�

Yet most voters believed the economy was weak. They penalized Democrats for inflation that reflected supply chain challenges after the pandemic, the impact of government aid that also energized job growth, and Russia鈥檚 2022 invasion of Ukraine causing spikes in energy and food prices.

Voters appeared to care less about the overall rate of inflation, though, than the changes in price levels that occurred over the past four years. Nearly nine in 10 identified inflation as an important factor for their choice in this year鈥檚 election, with Trump winning the clear majority of this group, according to AP VoteCast, an extensive survey of more than 120,000 voters.

Still, economists who鈥檝e advised and worked previously with Trump felt the economy was not as solid as the top-line numbers suggest. They stressed the high level of government debt that has been driving growth, even though Trump himself showed little appetite for cutting deficits during his previous time in the White House.

鈥淕overnment spending is keeping the economy afloat,鈥� said Joseph LaVorgna, who was the chief economist of White House National Economic Council during Trump鈥檚 presidency.

LaVorgna also noted that much of the recent job growth has come from government and health care hiring, instead of from manufacturing and other for-profit sectors.

Possible pressure to embrace EVs

There is recognition among some Republican lawmakers that the energy tax credits that were part of the Inflation Reduction Act were positives and should be preserved. Eighteen GOP House members in August sent House Speaker Mike Johnson a聽letter asking him to preserve the tax credits.

Economists supporting Trump also note that sales growth of electric vehicles (EVs) could jump under the incoming administration, which has the support of Tesla CEO Elon Musk.

Trump has wanted to remove Biden鈥檚 incentives for EVs, which are part of the Inflation Reduction Act. But after getting Musk鈥檚 backing, Trump said that he鈥檚 鈥渇or electric cars … because Elon endorsed me very strongly.鈥�

That simple shift of Trump talking up EVs could remove politics from the issue and cause the incoming president to fulfill a goal set by Biden, said economist Stephen Moore, an informal Trump adviser and economist at the Heritage Foundation.

鈥淲ith Biden gone, the EV industry will make a comeback,鈥� Moore said. 鈥淏iden made EVs toxic because half the country hated Biden, half loved him. The people who hated Biden wouldn鈥檛 buy an EV out of conscience.鈥�