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.
I thank the Gentlelady for yielding, and I appreciate her work and the work of Mr. Neugebauer for bringing this bill to the Floor.
At the end of this month, the Terrorism Risk Insurance Act will expire, creating uncertainty for businesses that want to invest in our economy and create more jobs here at home. The 113th Congress adjourned without reauthorizing this program, which is crucial to our economic stability and enjoys broad support. Now business leaders are joining House Democrats in calling on Republicans to move quickly to extend TRIA when the 114th Congress convenes in January.
I am very disappointed that the Senate failed to reauthorize the Terrorism Risk Insurance Act before it adjourned for the year.
We have time to return to the Rules Committee, pass out a rule which strikes these two provisions, and pass the bill.
I am glad that the House finally acted on a multi-year reauthorization of the Terrorism Risk Insurance Act.
The Bureau of Labor Statistics’s jobs report for November shows an economy that is resilient and ripe for growth.
Thank you very much, Leader Pelosi, and let me join you in congratulating [Rep.] Maxine Waters on her leadership [as] the Ranking Member on the Financial Services Committee and all the Members of the Financial Services Committee, the [Ranking Member] of our Small Business Committee [Rep. Nydia M. Velázquez], all of whom have worked so very hard on this issue and understand the consequences of inaction.
Yesterday, President Obama announced executive actions he will take to fix our nation’s broken immigration system.
Once again, Republicans are wasting the Congress’s time – and the American people’s time – on partisan messaging bills that would do little to create jobs or grow our economy.
Today’s strong jobs report for October makes it clear that our economy is steadily adding jobs and that there is potential for further growth if Congress can take action in a bipartisan way.