PRESS RELEASE: STATEMENT: OCTOBER JOBS REPORT SHOWS PUBLIC INVESTMENT WORKS, REINFORCES WHY HOUSE MUST PASS BUILD BACK BETTER ACT AND INFRASTRUCTURE TODAY
FOR IMMEDIATE RELEASE
November 5, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
STATEMENT: OCTOBER JOBS REPORT SHOWS PUBLIC INVESTMENT WORKS, REINFORCES WHY HOUSE MUST PASS BUILD BACK BETTER ACT AND INFRASTRUCTURE TODAY
NEW POLLING: 61% of Voters — including 54% of Independents — Support Passing the Build Back Better Act.
WASHINGTON, D.C. — Employers added 531,000 workers in September, according to the jobs report released today by the Bureau of Labor Statistics.
Experts agree that the Build Back Better Act will accelerate the economy’s recovery even further. Yesterday, Moody’s Analytics Mark Zandi released a report estimating the Build Back Better Act and Bipartisan Infrastructure Deal will add nearly $3 trillion to the GDP and 1.5 million jobs per year for a decade if passed together.
Invest in America’s spokesperson Maddy McDaniel issued the following statement:
“Today’s jobs report is welcome proof that public investment works to recover the economy and add jobs. The American Rescue Plan was a lifeline to the American people that helped get people vaccinated and back to work. But the work is not done.
“We need the Build Back Better Act to make the economy fairer and rebuild the middle class. The plan’s investments in child care, housing, education, clean energy, and more will create millions of jobs, lower taxes for families, and lower costs for the middle class.
“These investments are incredibly popular with voters across the political spectrum and urgently needed to build our economy back better than it was before the pandemic. Congress must act quickly and pass the Build Back Better Act and Bipartisan Infrastructure Deal today.”
The investments in President Biden’s full Build Back Better agenda will create millions of jobs, lower costs, and lower taxes for working families.
The Build Back Better agenda will create millions of jobs:
According to Moody’s Chief Economist Mark Zandi, the Bipartisan Infrastructure Bill and the Build Back Better agenda will add 1.5 million jobs per year for a decade if passed together.
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 expanding Pell grants and making universal preschool a reality.
Economists are available to discuss the implications of this month’s jobs report — reach out to [email protected] to get in touch.
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.