PRESS RELEASE: STATEMENT: JOBLESS CLAIMS FALL SHARPLY, BUT BUILD BACK BETTER INVESTMENTS STILL NEEDED TO REACH FULL ECONOMIC STRENGTH

FOR IMMEDIATE RELEASE 
September 9, 2021

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

STATEMENT: JOBLESS CLAIMS FALL SHARPLY, BUT BUILD BACK BETTER INVESTMENTS STILL NEEDED TO REACH FULL ECONOMIC STRENGTH

Moody’s Chief Economist Mark Zandi: The Bipartisan Plan And The Build Back Better Agenda Together Will “Lift The Economy’s Longer-term Growth Potential And Ease Inflation Pressures”

POLLING61% of Voters — including 58% of Independents — Support Passing the $3.5T Build Back Better Plan Through Reconciliation.

WASHINGTON, D.C. — Jobless claims fell by 35,000 to a new pandemic low, as 310,000 Americans filed for unemployment benefits, according to the latest data from the Bureau of Labor Statistics. The significant drop in unemployment claims follows the downward trend taking place since Congress passed the American Rescue Plan, which helped Americans get vaccinated and back to work. However, Americans are still eagerly awaiting the passage of both the Bipartisan Infrastructure Deal and the Build Back Better agenda to create millions of jobs and strengthen the economy.

The Build Back Better agenda is more popular than ever in the wake of the August recess, according to polling released this week from Navigator research.

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

“This jobless claims report is another clear indication that President Biden’s economic agenda works. Thanks to the American Rescue Plan, unemployment has fallen significantly, from 830,000 to 310,000 as more Americans have been vaccinated and gone back to work.

“However, there is still work to do before the U.S. economy reaches full strength. Americans are counting on Congress to pass the Build Back Better agenda to create millions of good-paying jobs, lower costs on key expenses like prescription drugs, and cut taxes for middle-class families. By passing the plan, we’ll bring the American economy to its full capacity and ensure that we don’t leave a single job on the table.”

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 create millions of jobs, lower costs, and lower taxes for middle class families. 

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

  • 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 lower costs for working people:  

    • 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 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 health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost savings; adding dental, vision, and hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.

    • It will lower education costs by making two years of community college tuition-free and making universal preschool a reality.

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.

###