INVEST IN AMERICA WEEKLY ROUNDUP
- Invest in America released a new digital ad, “The Cost of Doing Nothing,” emphasizing that the nation cannot afford to do nothing when it comes to investing in physical and human infrastructure. View the digital ad here.
- Invest in America released two new polls with Data For Progress:
- The first poll found that 63% of voters, including 64% of Independents and 52% of Republicans, prefer funding infrastructure investments through corporate taxes instead of user-fees and raiding pandemic relief funds, and 51% of voters prefer the American Jobs and Families Plans to Republicans’ $568 billion counter-proposal by a +19 point margin.
- The second poll found that 58% of voters, including 54% of Independents, support passing the American Jobs and Families Plans through reconciliation, and 55% of voters believe it is more important for Republicans to work with President Biden to enact instead of obstruct his agenda.
- Invest in America Action organized a statement from nearly 30 economists calling on President Biden and Congress to reject Senate Republicans’ infrastructure counter-proposal, arguing that the cuts they propose to manufacturing, clean energy, schools, and care would undermine U.S. economic recovery and stifle future economic growth.
- Invest in America released a fact sheet with research showing that slashing the corporate tax rate as part of the 2017 Tax Cuts and Jobs Act had minimal effect on economic growth, but restoring it could actually boost productivity and wage growth for U.S. workers.
- Invest in America pushed back on inflation fearmongers with a roundup of economists who have made it clear that there is little concern over lasting inflation or economic overheating, and that, should it occur, the Federal Reserve is more than equipped to handle it.
- Invest in America Action called out Senate Republicans for their failure to produce a new infrastructure counter-proposal for Tuesday’s meeting with the White House, which once again proves that Republicans have no intention of coming to the table in good faith to negotiate the American Jobs and Families Plans.
The United States needs big, bold public investment to address the massive loss of jobs during the pandemic, our underfunded infrastructure, the ever-widening inequities between the rich and the poor, the child care crisis that has forced millions of women out of the workplace, and the rising threat of climate change. President Biden’s American Jobs and Families Plans would begin to tackle these growing concerns while creating millions of high-paying jobs.
We cannot create an equitable, sustainable economic recovery that ensures our long-term prosperity by ignoring caregiving and the threat of climate change, undercutting American manufacturing, and keeping middle class families on the backfoot by under-investing in infrastructure projects that would create jobs and spark economic growth.
Congress and the Biden administration should reject the infrastructure proposal from Senate Republicans and work to pass an infrastructure plan that fully addresses the urgent needs of the country and the economy.
The statement’s signers include:
- François Geerolf, UCLA
- Neva Goodwin, Boston University & Tufts University
- Haider Kahn, University of Denver
- Raul Hinojosa, University of California Los Angeles- NAID Center
- Stephanie Seguino, University of Vermont
- Andres Vinelli, Center for American Progress
- Dean Baker, Center for Economic and Policy Research(CEPR)
- Julie Nelson, University of Massachusetts Boston
- Peter Bohmer, The Evergreen State College
- Rakeen Mabud, Groundwork Action
- Daphne Greenwood, University of Colorado-Colorado Springs
- Brendan O’Flaherty, Columbia University
- Randy Albelda, University of Massachusetts Boston
- John Roemer, Yale University
- Dorene Isenberg, University of Redlands
- Ellen Mutari, Stockton University
- Yavuz Yasar, University of Denver
- Kimberly Christensen, Sarah Lawrence College
- Barry Bluestone, Northeastern University
- Sarah Jacobson, Williams College
- Noé Wiener, University of Massachusetts Amherst
- Teresa Ghilarducci, The New School for Social Research
- Fabio Ghironi, University of Washington
- Gabriel Mathy, American University
- Tracy Mott, University of Denver
- Christian Proano, University of Bamberg
- Naomi Zewde, CUNY
- The GOP plan cuts $137 billion in funding to upgrade and build new public schools, community college infrastructure, and child-care facilities.
- Meanwhile, the American Society of Civil Engineers rated school infrastructure in the U.S. with a “D+” rating — and 28 million American students attend schools nationwide that need one or more building extensively repaired, overhauled, or replaced.
- Research has shown “there is strong evidence that high-quality infrastructure facilitates better instruction, improves student outcomes, and reduces dropout rates.” Our school buildings’ structural faults “are significantly related to worse student achievement.” As such, proposals to eliminate school infrastructure investment are proposals to stunt our children’s educational growth and development.
- The GOP plan cuts $400 billion for home and community based care for elderly and disabled people, which could result in $64.5 billion a year in lost wages and economic activity, and forfeit the millions of jobs that investing in care would create.
- Stripping funding for caregiving would continue to leave caregivers vulnerable to economic instability and greater financial strain, especially black and immigrant women who disproportionately perform paid and unpaid care.
- The GOP plan strips $580 billion in research and development, manufacturing, and jobs training — putting the U.S. at a competitive disadvantage with China, forfeiting more than 1 million registered apprenticeships, and keeping U.S. manufacturing on the backfoot.
- By cutting funding for manufacturing, the GOP would forfeit good-paying jobs and workforce training in the country’s industrial heartland and forfeit critical funding to prevent job losses caused by potential future pandemics.
- The American Jobs Plan would create between 1 million and 1.2 million jobs per year through investments in clean energy, according to Robert Polling, economics professor and co-director of the Political Economy Research Institute (PERI) at the University of Massachusetts-Amherst.
- Experts have applauded the American Jobs Plan’s clean energy investments as “a significant step in meeting our collective clean energy goals.” Eliminating these investments would only worsen climate change and prevent us from achieving the clean environmental future we need.
- By stripping investments in clean energy, the GOP plan would forfeit more than 1 million jobs and inhibit our fight against climate change.