FACTSHEET: IN FIRST YEAR, BIDEN PASSED TWO HISTORIC BILLS TO INVEST IN AMERICA & CREATE RECORD JOB GROWTH

President Biden Pushed Unemployment to Record Lows, Created Historic Job Growth, and Brought the Economy Back From Potential Disaster

Treasury Secretary Janet Yellen: The American Rescue Plan enabled “one of the strongest periods of economic growth in a century.”

During his first year in office, President Joe Biden oversaw record job growth, brought unemployment to its lowest level in 52 years, and enabled 210 million Americans to get fully vaccinated. This success all stems from two historic bills: the American Rescue Plan and the Bipartisan Infrastructure Deal, aimed at the unprecedented economic downturn and the COVID pandemic. Thanks to President Biden’s leadership, millions of Americans have returned to work, vaccines are readily available, and the American economy is growing at record pace.

Here’s a rundown of the crucial legislative packages that President Biden passed in his first year in office:

President Biden passed the American Rescue Plan, which gave direct assistance to Americans, aided state and local governments, distributed vaccines widely, and delivered record growth. 

Direct Aid to Americans

  • The American Rescue Plan sent a $1,400 stimulus check to individuals making up to $75,000 a year and couples making up to $150,000 a year.

  • The American Rescue Plan extended unemployment insurance through September 2021 and included a weekly addition of $100 in unemployment benefits.

Pandemic Aid

State & Local Government

Small Businesses

Expanded Tax Credits

  • The American Rescue Plan expanded child tax credits to $4,000 for one child or $8,000 for two or more children to cover the cost of child-care, food, and other expenses.

  • The American Rescue Plan increased the earned income tax credit from $530 to around $1,500 while raising the income eligibility threshold to $21,000, helping working Americans pay for expenses.

President Biden passed the Bipartisan Infrastructure Deal to create millions of jobs, turbocharge the economy, and address inequality. 

Roads, Bridges, & Ports: 

Public Transit: 

  • The Bipartisan Infrastructure Deal made the largest federal investment in public transit ever, providing $89.9 billion in guaranteed funding for public transit over the next five years, repairing aging infrastructure and developing new, clean transit options.

Water: 

  • The Bipartisan Infrastructure Deal made a $55 billion investment in clean drinking water and wastewater infrastructure, the largest in American history.

Electric Vehicles:

  • The Bipartisan Infrastructure Deal invested $7.5 billion to build out the first-ever national network of EV chargers in the United States, helping to address the climate crisis and support domestic manufacturing jobs with a particular focus on rural, disadvantaged, and hard-to-reach communities.

  • The bill invested in thousands of electric school buses nationwide, helping school districts across the country buy clean, American-made, zero emission buses.

Power Infrastructure:

  • The legislation’s roughly $65 billion investment is the single largest investment in clean energy transmission in American history.

Broadband: 

  • The BID’s historic $65 billion investment in broadband will help ensure every American has access to reliable high-speed internet.

Reconnecting Communities:

  • The Bipartisan Infrastructure Deal created a first-ever program to reconnect communities divided by transportation infrastructure through dedicated funding for planning, design, demolition, and development of street grids, parks, and other infrastructure.

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