PRESS RELEASE: STATEMENT: AMERICAN RESCUE PLAN RESPONSIBLE FOR LOW UNEMPLOYMENT, NOW WE MUST BUILD ON SUCCESS WITH BUILD BACK BETTER ACT

FOR IMMEDIATE RELEASE 
January 13, 2022

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

STATEMENT: AMERICAN RESCUE PLAN RESPONSIBLE FOR LOW UNEMPLOYMENT, NOW WE MUST BUILD ON SUCCESS WITH BUILD BACK BETTER ACT

POLLING65% of Voters — Including 64% of Independents — Support the Build Back Better Act

59% of Voters — Including 60% of Independents — Support the Act Because it Will Lower Costs for Child Care, Health Care, Prescription Drugs

WASHINGTON, D.C. — Last week, 230,000 Americans filed for unemployment benefits, according to the latest data released today by the Bureau of Labor Statistics. The report means that jobless claims continue to hover near pre-pandemic lows after the Biden Administration’s historic jobs recovery. However, middle-class Americans are counting on Congress to pass the Build Back Better Act and lower key costs as they deal with economic challenges brought on by the pandemic.

Invest in America’s spokesperson Maddy McDaniel issued the following statement:

“Today’s jobless claims report shows that unemployment continues to remain low, thanks to the American Rescue Plan, which boosted the economy and allowed Americans to get back to work.

“However, we cannot afford to leave a single job on the table in this recovery. Now is the time for action to boost the economy to full strength for all Americans. That’s why Congress must pass the Build Back Better Act — not only to create good-paying jobs for American workers and families, but also to address rising costs by lowering expenses in key areas like child care, health care, energy prescription drugs, and more.

“Congress needs to act with urgency to pass the Build Back Better Act — doing so will ensure that we build on the historic economic recovery seen over the last year, deliver long-term growth, and ease the burden on hard-working Americans.”

Economists are available to discuss the implications of this week’s jobless claims — reach out to [email protected] to get in touch.

The investments in President Biden’s full Build Back Better agenda will lower costs, cut taxes, and create jobs for working families. 

  • The Build Back Better agenda will lower costs for working people:  

    • It will lower child care costs — which cost parents $30-35 billion in income before the pandemic. Access to affordable child care could increase the lifetime earnings for women with children by nearly $100,000.

    • It will lower the cost of long term care, expanding access to affordable home care to hundreds of thousands of Americans.

    • It will lower energy costs, saving the average American family $500 per year by investing in clean energy.

    • It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost saving premium tax credits; adding hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.

    • It will lower prescription drug costs for Americans by letting Medicare negotiate drug prices, so consumers are no longer at the whim of pharmaceutical companies.

    • It will lower taxes for low-and-moderate-income workers by extending the American Rescue Plan’s Earned Income Tax Credit to millions.

    • It will lower education costs by expanding Pell grants and making universal preschool a reality.

    • It will lower housing costs by creating more than one million new affordable homes in rural and urban areas.
  • The Build Back Better agenda will lower taxes for middle class families: 

    • It will expand the Child Tax Credit, lowering taxes for middle class families by providing 39 million households and nearly 90% of children in the U.S. a major tax cut and cutting the child poverty rate in half.

  • The Build Back Better agenda will create millions of jobs: 

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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