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.
Tonight, the President made clear that we will continue ongoing discussions as we work to reach agreement on a long-term, balanced approach to reduce our deficit. While Democrats are continuing to fight for a deficit reduction compromise that will strengthen the economy and reduce deficits for decades, I’m disappointed my Republican colleagues have indicated they’re not in favor of a compromise deal that would address the fiscal crisis in a serious way. I’m hopeful they will stay engaged so that we can in fact enact an agreement that ensures America pays its bills and reduces the deficit in a balanced way without putting all of the burden on seniors and the middle class.
Now the gentleman makes the point that spending is out of control. The fact is, as the gentleman clearly knows, that when you were in charge of the House and the Presidency and the Senate you increased spending by more than was increased during the Clinton administration by a percentage on an annual basis. So that I’m glad to hear that your side now, without fail, talks about spending being out of control. As a matter of fact, I have a feeling if your side was spending five cents that would you think that we would need to cut an additional five cents in revenues so that we could not pay the bills. That's why we ran up $6 trillion in deficits. You did not pay for what you bought. I’m with those who strongly believe we ought to pay for what we buy, but I also believe that we ought not to put this country on the brink of financial chaos and bring us down in the eyes of the world because we don't extend our debt.
This morning, we learned that our economy added 57,000 private-sector jobs in the month of June, and a net total of 18,000 jobs. We are clearly a long way from replacing all of the jobs lost as a result of the financial crisis in 2008, and we will need many more months of much stronger progress to create jobs for the millions of Americans out of work. Our unacceptably high unemployment rate of 9.2% demonstrates that our problem is still urgent.
Each July 4, we celebrate our nation’s independence and again take pride in America’s history. This pride comes from knowing that the courage, determination and hard work of generations of Americans before us — many of whom fought and died to preserve our liberty — made our country what it is today.
Republicans took the House majority six months ago and have done little to live up to the promises in their Pledge to America.
Today the President clearly stated Democrats’ position: we must ensure that America pays its bills, and agree to a balanced approach to reduce the deficit that includes spending and revenues. We disagree with Republicans who want to protect tax breaks for the wealthy, the oil companies, and special interests, while fighting to end Medicare and reduce the deficit on the backs of seniors and the middle class.
From the Democratic Whip Press Shop:
Add the International Monetary Fund to the list of economists, business leaders, and Wall Street executives warning of the damaging consequences of not paying America’s bills:
From the Democratic Whip Press Shop:
Yes, we know you’re tired of us quoting him, but Mark Zandi’s comments on the debt limit are definitely worth the read. Here’s a highlight:
In their Pledge to America, Republicans promised they would focus on creating jobs and growing our economy. They claim the bills they have brought to the Floor this Congress address those priorities, but their bills are more focused on Republican ideology than actually creating jobs. Republicans do not have a comprehensive jobs agenda, but that hasn’t stopped them from using misleading bill titles to convince the American people that they do.
When Republicans took the House majority, they pledged to focus on creating jobs and growing the economy. But after six months, they still haven’t put forward a comprehensive jobs agenda. While Democrats are focused on the Make It In America agenda, a plan to support job creation and boost working families, Republicans are pursuing a partisan agenda that has the wrong priorities.