PRESS RELEASE: BIPARTISAN INFRASTRUCTURE BILL WILL CREATE MILLIONS OF JOBS
FOR IMMEDIATE RELEASE
August 10, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
BIPARTISAN INFRASTRUCTURE BILL WILL CREATE MILLIONS OF JOBS
NOW SENATE MUST PASS BUILD BACK BETTER AGENDA TO PUT MORE AMERICANS BACK TO WORK, LOWER MIDDLE-CLASS TAXES & REDUCE COSTS
Moody’s Chief Economist Mark Zandi: The Bipartisan Plan And The Build Back Better Agenda Together Will “Lift The Economy’s Longer-term Growth Potential And Ease Inflation Pressures”
POLLING: 66% of Voters — including 60% of Independents — Support Passing the $3.5T Build Back Better Plan Through Reconciliation.
WASHINGTON, D.C. — Today, the U.S. Senate voted to pass the Bipartisan Infrastructure Bill, moving the bill further toward becoming law and creating millions of jobs across the country. The plan includes critical investments in physical infrastructure, water infrastructure, broadband, and the country’s electric grid.
Congress is also using the reconciliation process to pass the Build Back Better agenda, a once-in-a-generation opportunity to make long overdue investments in clean energy, caregiving, education, and more that will create millions of jobs, reduce costs for families, and lower taxes on working and middle-class Americans.
If paired with the Build Back Better agenda, the Bipartisan Infrastructure Deal will boost economic growth and ease inflationary pressures, according to Moody’s Chief Economist Mark Zandi.
Invest in America Action’s senior advisor Zac Petkanas made the following statement:
“Today’s vote in the Senate is a huge win for America. This bill’s investments will allow us to rebuild our crumbling infrastructure, create millions of good-paying jobs, drive economic growth, and position the U.S. to lead the global economy.
“From rebuilding roads and bridges to ensuring everyone has access to broadband and clean water, the bill will improve life for working Americans in so many ways and strengthen our economy.
“But we need to do more. That means passing President Biden’s proposed Build Back Better agenda to invest in education, care, clean energy, and more. By doing so, we’ll bring the American economy to its full strength and make sure that we don’t leave any jobs on the table. That’s why both economists and voters agree that we have to pair the Bipartisan Infrastructure Bill with the Build Back Better agenda to create jobs, reduce costs, and lower taxes for middle-class American families.”
Investing in infrastructure will create millions of jobs and turbocharge the economy.
According to Moody’s Chief Economist Mark Zandi, the Bipartisan Infrastructure Bill and the Build Back Better agenda together will create more than 2 million jobs by mid-decade.
More than half of the millions of jobs created by infrastructure investments would go to blue collar workers without a college degree.
Infrastructure investments are also a vehicle to address racial equity.
Infrastructure has historically been used to disenfranchise communities of color, with physical infrastructure and transportation systems that cut through neighborhoods, isolate communities of color, and expose them to a disproportionate amount of pollution and hazard.
As a result, Black and brown communities have less access to economic activity, longer commutes, and worse health outcomes.
A multi-trillion dollar update to our physical infrastructure can correct these historical injustices while providing an economic lifeline to communities of color.
The investments in President Biden’s full Build Back Better agenda will create jobs, lower costs, and lower taxes for working families.
The Build Back Better agenda will lower taxes for middle class families:
It will expand the Child Tax Credit, lowering taxes for middle class families by providing 39 million households and nearly 90% of children in the U.S. a major tax cut and cutting the child poverty rate in half.
The Build Back Better agenda will lower costs for working people:
It will lower prescription drug costs for Americans by letting Medicare negotiate drug prices, so consumers are no longer at the whim of pharmaceutical companies.
It will lower child care costs — which cost parents $30-35 billion in income before the pandemic. Access to affordable child care could increase the lifetime earnings for women with children by nearly $100,000.
It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost savings; adding dental, vision, and hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.
It will lower education costs by making two years of community college tuition-free and making universal preschool a reality.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.