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.
Today, I signed the discharge petition filed by Rep. Tim Walz that would bring to the Floor an extension of tax cuts for 98% of Americans and 97% of small businesses. These middle class tax cuts were extended by the Senate in July, and the House ought to take action immediately to provide certainty to families and small businesses that their taxes won’t go up on January 1.
Democrats remain committed to reaching agreement on a balanced solution to the fiscal cliff. President Obama’s proposal would cut the debt by $4 trillion over 10 years, ask our nation’s wealthiest to pay their fair share, and make strategic investments to create jobs and grow our economy. While Republicans have taken the positive step of putting a proposal on the table, it lacks the specifics needed to meet the challenge we face. Why didn’t they include specifics? Because their math doesn’t add up. A significant amount of revenue is needed, which can’t be reached by continuing tax breaks for the wealthy, as Republicans insist on doing.
With time running out, it is imperative that Congress take action before the fiscal cliff hits to prevent tax increases on middle class families and turn off the damaging and arbitrary spending cuts of the sequester. Going off the cliff isn’t an option. It will take a balanced solution, and for the first time it looks like some Republicans are starting to agree.
“Everybody believes we ought not to go off the cliff. Sequester is not a good idea, and if we went off the cliff it would have substantial adverse effects on the economy. Nobody wants to go over the cliff including, in my opinion, [Speaker] John Boehner. However, we ought not to hold hostage middle-class tax cuts.”
From the Democratic Whip Press Shop:
“With the passage of this bill, American exporters will have greater access to Russian markets, and the United States will be better positioned to enforce trade rules through the World Trade Organization and safeguard a level playing field for our businesses overseas. This will contribute to job creation and new opportunities for our workers here at home. At the same time, it reaffirms America’s commitment to human rights and individual freedom in Russia and throughout the world.
“Today's report marks the thirty-second consecutive month our economy has added private sector jobs – a strong sign that our recovery is continuing and that the economic policies of the Obama Administration are helping move America forward. More Americans are going back to work, and we are reversing the severe job losses that occurred under the Bush Administration.
House Democratic Whip Steny H. Hoyer (MD) released the following statement on today's GDP report estimating that our economy grew by 2% in the third quarter of 2012
"The ruling by the World Trade Organization shows that President Obama continues to stand tough against China and is fully committed to ensuring American businesses are competing on a level-playing field. This is just one in a number of cases the Obama Administration has taken to the WTO to hold China accountable for their illegal trade practices...
Today's decision by the President to impose tough tariffs on Chinese solar imports is just the latest step by the Obama Administration to get tough on foreign companies who don't play by the rules. I applaud his move, which will help American manufacturers compete here at home and overseas.