FOR IMMEDIATE RELEASE
April 2, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
STATEMENT: JOBS REPORT SHOWS AMERICAN RESCUE PLAN WORKING, BUT MORE INVESTMENT NEEDED TO RECOVER 9.5 MILLION JOBS & BUILD BACK BETTER
69% of Voters, Including 65% of Independents and 50% of Republicans, Support A Multi-Trillion Dollar Build Back Better Plan To Invest In American Infrastructure
WASHINGTON, D.C. — Employers added 916,000 jobs in March, signally the start of an economic rebound fueled by the American Rescue Plan. Despite these gains, the economy has millions fewer jobs than before the pandemic.
Invest In America’s spokesperson Maddy McDaniel issued the following statement:
“This month’s jobs report is proof that public investment works. The American Rescue Plan has set us on the road to recovery by accelerating vaccine distribution, supporting small businesses, keeping essential workers on the job, and providing direct relief to struggling families.
“But with more than 8 million fewer jobs in our economy than before the pandemic, much more is needed. Infrastructure investments like those in the American Jobs Plan will put millions of people back to work, boost our GDP, and ensure our nation’s competitiveness for the future. Building on the American Rescue Plan with additional public investments is the only way to deliver a stronger and more equitable economy than before the pandemic.”
Economists are available to discuss the implications of this week’s jobless claims — reach out to [email protected] to get in touch.
Americans need major public investments to address the problems exacerbated by the pandemic.
- The U.S. labor market is still down more than 8 million jobs from pre-pandemic levels.
- According to the American Society of Civil Engineers (ASCE), the United States faces a $2.59 trillion shortfall in infrastructure investment and $5.9 trillion in infrastructure needs, including rebuilding and repairing roads, bridges, schools, and protecting access to clean water.
- ASCE predicts that failure to address the nation’s crumbling infrastructure could cost the United States $10 trillion in GDP, more than $23 trillion in total output, 3 million jobs, and more than $3,300 in a family’s annual disposable income.
Infrastructure and economic experts agree that a multi-trillion dollar investment in infrastructure will boost the economy by creating millions of jobs and increasing productivity.
- S&P Global projects that the Build Back Better plan’s public infrastructure investments will generate 2.3 million jobs by 2024, inject $5.7 trillion into the economy, and increase per-capita income by $2,400.
- According to the Economic Policy Institute, infrastructure investments are consistently estimated to provide greater economic stimulus than any form of a tax cut.
- Increased public infrastructure investments increase output in both the short and long term, per the International Monetary Fund.
According to an Invest in America and Data For Progress poll, there is already widespread support for a multi-trillion dollar investment in repairing and rebuilding the nation’s infrastructure.
- 69% of Voters, including 65% of Independents and 50% of Republicans, support a multi-trillion dollar Build Back Better plan to invest in American infrastructure.
- More than 60% of voters support every potential provision of a multi-trillion dollar Build Back Better Plan in areas including repairing roads, bridges, drinking water systems and public transportation, and investing in clean energy.
- 52% of voters believe infrastructure investments will drive economic growth, create good-paying jobs, and pay for itself in the long run.
- 53% of voters believe Republicans should work with, rather than obstruct, President Biden to pass the Build Back Better plan.