Jobs & the Economy
Throughout the 117th Congress, House Democrats have partnered with President Biden to enact policies that expand economic opportunity for businesses, workers, and communities across America. Under President Biden and Congressional Democrats, the unemployment rate is at its lowest in more than 50 years with more than 10 million jobs created, helping more of our people get ahead in today’s economy and Make It In America.
Democrats pursue an economic agenda that helps American businesses create good-paying jobs and ensure that workers have the tools not only to get by but to get ahead in our global economy. From raising the minimum wage to providing skills training and apprenticeship opportunities to ensuring equal pay for equal work, from making childcare more affordable to making it easier to save for retirement, Democrats’ economic policies are aimed at helping workers and their families attain real economic security at every stage of life.
Democrats have also delivered historic legislation investing in infrastructure and greater access to high-speed internet, taking the lead in the clean-energy economy, and supporting innovation and entrepreneurship. The generational Bipartisan Infrastructure Law has already begun to expand economic opportunity for Americans in communities across the country and takes action to repair our nation’s roads, bridges, ports, and other infrastructure while creating nearly 1.5 million jobs annually over the next decade. It contains the first major American investment in climate resilience to help communities upgrade their critical infrastructure and mitigate the impact of climate change-driven extreme weather. Likewise, the Inflation Reduction Act also advances America’s clean energy goals, turbocharging clean energy research and transmission while promoting electric vehicle domestic manufacturing to reduce American dependence on gasoline while revitalizing our auto industry.
The CHIPS and Science Act includes bipartisan measures to revitalize the domestic semiconductor industry and spur research. By strengthening domestic supply chains, this law acts directly to accelerate American innovation in the long-term while acting immediately to address inflation and create good paying jobs. House Democrats will continue to champion skills training and education at every level – from early childhood learning through higher education – to prepare our people for success and advancement in a changing economy. In all of these efforts, Democrats will continue to look for ways to make access to opportunities more equitable and to combat the lingering effects of legalized discrimination that continue to make it harder for minorities to access credit for loans, seek investment capital for startups, and build wealth to pass on to the next generation.
With historic job creation under President Biden, House Democrats will continue to advance policies that expand economic opportunity for working families, support small businesses, and create better-paying jobs.
A look at the headlines show the markets are looking for certainty. But instead of working with Democrats on a long-term, balanced compromise to pay our bills, reduce the deficit and give certainty to our economy, Republicans are wasting time with their partisan, short-term Default Bill.
Today’s headlines show it was a tough morning for House Republicans as they continue to push a short-term debt limit proposal that doesn’t have support within its own party and is destined to fail in the Senate. Rather than wasting time with a bill that will never reach the President’s desk, Republicans need to work with Democrats on a long-term, balanced agreement to pay our bills and reduce the deficit.
Wanted to be sure you saw today’s Washington Post editorial on Republicans’ inability to say yes to any agreement and the need for bipartisan compromise in order to pay America’s bills.
We see a deeply divided party on the Republican side of the aisle who knew this crisis was coming. I advised in April as we sat around the be the Cabinet table with the President we ought to solve this problem by the first of June and not push this country to the brink of default. Unfortunately, every effort to do that has been rejected. Every effort, every meeting, every conference that's looked for compromise, the Republicans have walked out… What the Speaker now sees is that his own members have walked out on him.
While Wall Street is urging Congress to take action quickly to pay America’s bills, Republicans are wasting time we don’t have on a short-term debt limit proposal that doesn’t solve our problems and kicks the can down the road.
We find ourselves at an unprecedented place today. America stands on the brink of default. It stands there, my friends, because the leadership of this House has failed to act in a timely and responsible way. This is an unprecedented status for America, an intolerable place. And Americans are understandably outraged at the politically-caused impasse that confronts us, the consequences of which have been correctly characterized as catastrophic.
With less than a week until possible default, Republicans are putting an already weak housing market at risk by refusing to work with Democrats on an agreement to pay our nation’s bills and reduce the deficit.
There’s a USA Today editorial about how far House Republicans have strayed from their conservative hero, President Ronald Reagan, which begs the question:
Today’s NY Times editorial highlights how Republicans are putting our economic security at risk by refusing to compromise on a debt limit proposal. With the Dow dropping over 400 points in four days and our credit rating at risk of downgrade, we’re running out of time to ensure we pay America’s bills.