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.
As part of a broad effort to promote economic growth, I support a comprehensive review of federal regulations to make them more effective, while protecting the health and safety of the American people.
Republicans campaigned last year on promises they likely can't keep, especially on reducing deficit spending, a top House Democrat charged Wednesday.
House Republicans had the worst day of their majority so far when internal GOP divisions resulted in a pair of unexpected and unwelcome defeats for the new leadership Tuesday.
House Minority Whip Steny Hoyer, D-Md., defended President Obama's outreach to the business community the morning after the president's speech to the U.S. Chamber of Commerce enraged liberals who worried Obama was cozying up to Wall Street and major corporations.
Today, President Obama unveiled a budget that makes tough choices to reduce spending and cut the deficit by $1.1 trillion while protecting investments that strengthen the economy and create jobs. His budget priorities stand in strong contrast to the Republican Spending Bill, a short-sighted proposal that arbitrarily cuts critical investments and does not put forward a real plan to address the deficit – even after they proposed policies that would add $5 trillion to the deficit.
Today, President Obama released his proposed Fiscal Year 2012 budget. The president’s budget makes the tough choices we need to reduce spending and put our nation’s fiscal house in order; in fact, it would reduce our deficit by $1.1 trillion over the next decade. At the same time, however, the budget identifies those investments we need to grow our economy and create jobs—investments in out-building, out-innovating, and out-educating competitors around the world. President Obama’s priorities—protecting our fiscal future while investing in growth—stand in strong contrast to the priorities of Republicans. Their spending bill for the rest of this fiscal year would make indiscriminate and short-sighted cuts to the investments our economy needs to stay competitive. I hope that Republicans will, instead, work with President Obama to reduce our deficit without sacrificing America’s competitive edge.
Tomorrow, the Trade Adjustment Assistance program will expire. As a result, tens of thousands of American workers will lose essential benefits on Monday—because Republicans have failed to extend this vital jobs program. American workers who have lost their jobs as a result of trade have been able to rely on the TAA program to train for jobs in new industries or pursue further education, helping them stay competitive in a changing economy. Democrats—who have been pursuing the Make It In America agenda to create good jobs here and rebuild our middle class—believe that programs such as TAA are essential to our national competitiveness and to economic growth. But Republicans would rather spend hours debating a symbolic resolution on the House Floor than stop TAA benefits from expiring. Once again, Republicans have failed to take job creation seriously.
This resolution directs House committees to review federal regulations for their effect on our economy. I agree with it—in fact, that’s oversight that committees should already be doing. Democrats believe that it’s important to vigorously review regulations to make sure they’re keeping pace with a changing economy—and that’s why President Obama has already issued an executive order that calls for such a review.
While we wait to see Republicans’ full proposal, what we’ve seen so far shows that they have not made the careful decisions necessary to ensure that while we cut spending, we do not cut investments in our economic future. Democrats believe we must reduce the deficit and cut spending, but not at the expense of the investments that will pay off tomorrow with an educated workforce, cutting edge research that keeps our economy the world’s leader, and a strong infrastructure.
Democrats are committed to restoring fiscal responsibility and cutting spending is one part of the effort to reduce the deficit. While Democrats agree that we must reduce spending, House Republicans have introduced a short-sighted plan that does not distinguish between necessary cuts, and cuts to investments that are critical to our continued economic recovery. While Speaker Boehner has dismissed investment in long-term economic growth as “ineffective stimulus,” Democrats are focused on cutting spending without cutting smart investments in our future that create jobs, expand private sector employment and will continue growing the economy.