You might be confusing liberalism with neo-liberalism. Yes the term is being appropriated by the right-wing establishment to make it seem like they're promoting freedom.
Not really, the concept of Liberal as capitalists against social reforms proposed by unions goes back at least to the 19th century:
"What, then, did and do Liberals (for the most part) understand by this freedom of the individual, or individual liberty, and why have they always made it such a strong point in their political faith? The answer is, they meant by individual liberty, first and foremost, the liberty of private property as such, to be uncontrolled in its operations by aught else than the will of the individual possessing it. What was cared for was not so much the liberty of the individual as the liberty of private property. The liberty of the individual as such was secondary."
"What, then, did and do Liberals (for the most part) understand by this freedom of the individual, or individual liberty, and why have they always made it such a strong point in their political faith? The answer is, they meant by individual liberty, first and foremost, the liberty of private property as such, to be uncontrolled in its operations by aught else than the will of the individual possessing it. What was cared for was not so much the liberty of the individual as the liberty of private property. The liberty of the individual as such was secondary."
https://www.marxists.org/archive/bax/1890/11/libvssoc.htm
That doesn't mean left liberalism doesn't exist, of course.