PRESS RELEASE: STATEMENT: JOBLESS CLAIMS SHOW BUILD BACK BETTER ACT NEEDED TO BOOST ECONOMY’S MOMENTUM

FOR IMMEDIATE RELEASE 
October 21, 2021

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

STATEMENT: JOBLESS CLAIMS SHOW BUILD BACK BETTER ACT NEEDED TO BOOST ECONOMY’S MOMENTUM

NEW POLLING: 67% of Voters — including 64% of Independents — Support Passing the Build Back Better Act Through Reconciliation.

WASHINGTON, D.C. — Last week, 290,000 Americans filed for unemployment benefits, according to the latest data released today by the Bureau of Labor Statistics. While the American Rescue Plan has brought jobless claims to a new pandemic low, Americans are still eagerly awaiting the passage of both the Bipartisan Infrastructure Deal and the Build Back Better Act to create millions of jobs and further strengthen the economy.

The jobless claims report comes a day after Invest in America and Data for Progress released a new poll that demonstrates the public’s overwhelming support for the Build Back Better plan. According to the poll, two-thirds of all voters support the Build Back Better plan and a bipartisan majority believe it will create jobs for all Americans.

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

“Reaching a new pandemic-low of jobless claims is the direct result of the American Rescue Plan, which helped get Americans back to work. But there is still much more to do before we reach a full economic recovery. We need to make critical public investments to build on the strength of this historic comeback and create a better economy for all Americans — which is why we need to pass the Build Back Better Act.

“Americans have made it clear that they are counting on Congress to pass the plan to create millions of good-paying jobs, lower costs, and cut taxes for middle-class families. Economists, experts, and voters all agree: we need to plan the Build Back Better Act to bring the economy to full strength 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.

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