PRESS RELEASE: STATEMENT ON JOBS REPORT: ECONOMY STRONG, BUT BUILD BACK BETTER ACT IS NEEDED TO CREATE JOBS & FURTHER BOOST THE ECONOMY

FOR IMMEDIATE RELEASE 
January 7, 2022

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

STATEMENT ON JOBS REPORT: ECONOMY STRONG, BUT BUILD BACK BETTER ACT IS NEEDED TO CREATE JOBS & FURTHER BOOST THE ECONOMY

POLLING63% of Voters — Including 64% of Independents — Support the Build Back Better Act

WASHINGTON, D.C. — Employers added 199,000 workers in December, according to the jobs report released today by the Labor Department. The jobs report comes after Bureau of Labor Statistics data showed yesterday that unemployment claims for last week totaled 207,000.

In 2021, the Biden-Harris administration oversaw record job growth, with 6.4 million jobs created, and decreased unemployment to a 52-year low thanks to the administration’s American Rescue Plan, which helped Americans get back to work. However, the jobs report and jobless claims data demonstrate that greater public investment is needed to further build on the historic recovery.

Voters and economists agree that Congress must pass the Build Back Better Act to accelerate the economy’s recovery even further, while business leaders expect doing so to deliver significant growth for the U.S. economy.

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

“After months of historic job creation and falling unemployment, attributable to the Biden administration’s American Rescue Plan, the U.S. is the only major economy that is stronger than before the pandemic. But our work is not done yet. We can’t afford to leave a single job on the table.

“We need to pass the Build Back Better Act to further boost the economy and make sure the middle class shares in America’s economic growth. 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.

Economists are available to discuss the implications of this month’s jobs report — reach out to [email protected] to get in touch.

The investments in President Biden’s full Build Back Better agenda will create jobs, cut taxes, and lower costs for working 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 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 the cost of long term care, expanding access to affordable home care to hundreds of thousands of Americans.

    • It will lower energy costs, saving the average American family $500 per year by investing in clean energy.

    • It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost saving premium tax credits; adding hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.

    • 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 taxes for low-and-moderate-income workers by extending the American Rescue Plan’s Earned Income Tax Credit to millions.

    • It will lower education costs by expanding Pell grants and making universal preschool a reality.

    • It will lower housing costs by creating more than one million new affordable homes in rural and urban areas.

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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