FOR IMMEDIATE RELEASE
March 31, 2021
Maddy McDaniel, Communications Director
AMERICAN JOBS PLAN WILL SPEED U.S. ECONOMIC RECOVERY AND GROWTH, CREATE MILLIONS OF JOBS
Economic Experts Agree That Investments In Infrastructure Pay For Themselves By Boosting The GDP And Creating Millions Of High-Paying Jobs
69% of Voters, Including 65% of Independents and 50% of Republicans, Support A Multi-Trillion Dollar Plan To Invest In American Infrastructure
S&P Global Predicts A Multi-Trillion Infrastructure Package Could Create 2.3 Million Jobs, Inject $5.7 Trillion Into Economy, Raise Per Capita Income By $2,400
WASHINGTON, D.C. — Today, President Joe Biden unveils the American Jobs Plan, a multi-trillion dollar investment in physical infrastructure, manufacturing, American caregivers, and more, which will help turbocharge economic productivity and generate millions of high-paying jobs. Voters and economists alike have already begun to endorse a multi-trillion dollar plan to invest in rebuilding and repairing the nation’s crumbling infrastructure.
Zac Petkanas, senior advisor for Invest in America, released the following statement:
“The American Rescue Plan staunched the bleeding to prevent catastrophe after a devastating year. Now it’s time to build on that legislation by creating jobs, jobs, and more jobs with a bold, ambitious set of public investments that address our nation’s infrastructure needs, boost the caregivers fueling our economy, and bridge the ever growing racial wealth gap.
“The public investments President Biden is proposing as part of the American Jobs Plan will get us started on the path to building our economy back stronger and more equitable than ever before.
“We encourage Congress to take this forward-thinking blueprint for a 21st century economy and go big on the infrastructure investments that are so incredibly popular with voters across the political spectrum.”
Americans need major public investments to address the problems exacerbated by the pandemic.
- The U.S. labor market is still down nearly 10 million jobs from pre-pandemic levels.
- According to the American Society of Civil Engineers (ASCE), the United States faces a $2.59 trillion shortfall in infrastructure investment and $5.9 trillion in infrastructure needs, including rebuilding and repairing roads, bridges, schools, and protecting access to clean water.
- ASCE predicts that failure to address the nation’s crumbling infrastructure could cost the United States $10 trillion in GDP, more than $23 trillion in total output, 3 million jobs, and more than $3,300 in a family’s annual disposable income.
Infrastructure and economic experts agree that a multi-trillion dollar investment in infrastructure will boost the economy by creating millions of jobs and increasing productivity.
- S&P Global projects that the Build Back Better plan’s public infrastructure investments will generate 2.3 million jobs by 2024, inject $5.7 trillion into the economy, and increase per-capita income by $2,400.
- According to the Economic Policy Institute, infrastructure investments are consistently estimated to provide greater economic stimulus than any form of a tax cut.
- Increased public infrastructure investments increase output in both the short and long term, per the International Monetary Fund.
According to an Invest in America and Data For Progress poll, there is already widespread support for a multi-trillion dollar investment in repairing and rebuilding the nation’s infrastructure.
- 69% of Voters, including 65% of Independents and 50% of Republicans, support a multi-trillion dollar Build Back Better plan to invest in American infrastructure.
- More than 60% of voters support every potential provision of a multi-trillion dollar Build Back Better Plan in areas including repairing roads, bridges, drinking water systems and public transportation, and investing in clean energy.
- 52% of voters believe infrastructure investments will drive economic growth, create good-paying jobs, and pay for itself in the long run.
- 53% of voters believe Republicans should work with, rather than obstruct, President Biden to pass the Build Back Better plan.