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.
With less than a week until possible default, Speaker Boehner and House Republicans continue to advocate for a debt limit proposal that does not solve the problem; instead, it kicks the can down the road and does not give our economy the certainty it needs. Republicans often argue that we must give the business community certainty so that we can create jobs and grow the economy. But instead of working with Democrats on a long-term, balanced solution to pay our bills and reduce the deficit, Republicans are holding our economy hostage to their short-term proposal that will fail in the Senate.
Wanted to be sure you saw this WSJ article about the uncertainty American businesses are feeling as Republicans continue to hold our economy hostage to Speaker Boehner’s short-term debt limit proposal that is dead on arrival in the Senate.
There are three reasons Democrats want to pass a long-term deal to get a handle on our deficit problem, avoid default and give businesses certainty:
1.) Jobs
2.) Jobs
3.) Jobs
According to this Weekly Standard column by Bill Kristol, conservatives should side with Speaker Boehner. Not because it will avoid economic catastrophe or stave off our country’s first default in its history, but because it will be a “victory over Obama.”
Key excerpts:
For those who’ve thought that House Republicans’ actions these past several weeks bear a close resemblance to a two year-old’s tantrum, you should check out this Business Insider piece. It should serve as a reminder to Republicans that they can’t just throw a hissy fit when they don’t get absolutely everything their way.
Wanted to pass along this NY Timesarticle highlighting how a credit rating downgrade would be felt across the nation—slowing economic growth “for years to come,” hurting job creation and increasing the deficit.
Key excerpts:
A look at the morning headlines shows Speaker Boehner is facing opposition from a significant number of conservative Republicans, who won’t vote for his short-term proposal to pay America’s bills. With less than a week until possible default, we don’t have time for the Speaker to rewrite his bill, which is destined to fail in the Senate.
Not only does Senator Reid’s long-term, balanced debt limit proposal give our economy more certainty than Speaker Boehner’s short-term bill, but it also reduces the deficit more than the GOP plan. So, our question of the day is this: which proposal should the House consider?
Today, I voted against Republican legislation that would cut short the permitting process for the Keystone XL pipeline from Canada. I support the pipeline, but this bill is a solution in search of a problem. The Obama Administration remains set to make a decision on the pipeline by the end of the year. Cutting short the timeline for a decision would restrict the administration’s opportunity to hear comments and input from the relevant federal agencies, the states, and the public on the range of issues raised by the pipeline: its environmental impact, potential safety problems posed by a pipeline moving this specific kind of crude oil, and, above all, the question of whether approving the pipeline is in the national interest. I urge the Obama Administration to conclude the permitting process in a timely manner, but this unnecessary bill would do little to encourage a responsible and well-informed decision.
A look at this afternoon’s headlines shows Speaker Boehner is going to have a tough time passing his short-term debt limit proposal: