PRESS RELEASE: STATEMENT: JOBLESS CLAIMS SHOW THE NEED TO PASS BUILD BACK BETTER ACT AND BUILD ON RECOVERY’S STRENGTH

FOR IMMEDIATE RELEASE 
December 2, 2021

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

STATEMENT: JOBLESS CLAIMS SHOW THE NEED TO PASS BUILD BACK BETTER ACT AND BUILD ON RECOVERY’S STRENGTH

POLLING55% of Voters — Including 54% of Independents — Say It’s Important to Pass and Sign Build Back Better Act Before the End of the Year

POLLING60% of Voters — Including 61% of Independents — Support Passing the Build Back Better Act

WASHINGTON, D.C. — Last week, 222,000 Americans filed for unemployment benefits, according to the latest data released today by the Bureau of Labor Statistics. The historic economic recovery overseen by the Biden administration has taken the four-week average of unemployment claims to its lowest level since the start of the pandemic — but middle-class Americans are still eagerly awaiting the passage of the Build Back Better Act to lower key costs and bring the economy to full strength.

The jobless claims report comes days after Invest in America and Data for Progress released a new poll that demonstrates voters’ overwhelming support for the Build Back Better plan, which a majority said they want passed by the new year.

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

“America’s historic economic recovery and today’s jobless claims report have been possible thanks to the American Rescue Plan, which allowed Americans to get back to work. But middle-class Americans are counting on more to be done to make sure the economy works for them.

“That’s why it’s imperative that Congress pass the Build Back Better Act, which will lower costs, cut taxes, and create even more jobs for middle-class families. These measures will be key to delivering long-term growth for the American economy and making sure that all families feel its benefits.”

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 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 increasing pell grants and making universal preschool a reality.

  • 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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