PRESS RELEASE: ECONOMISTS SLAM CAPITO’S PROPOSED CUTS TO BIDEN INFRASTRUCTURE PLAN

FOR IMMEDIATE RELEASE
May 20, 2021

Contact: 
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

ECONOMISTS SLAM CAPITO’S PROPOSED CUTS TO BIDEN INFRASTRUCTURE PLAN

This Week, Sen. Shelley Moore Capito (R-WV) Doubled Down on Republicans’ Counter-Proposal to Gut Job Creating Investments in Manufacturing, Clean Energy, School Construction and Caregiving in Interviews with Bloomberg and Fox News

27 Economists Sign Statement Urging Biden Administration and Congress To Reject Senate Republicans’ Infrastructure Counter-Proposal That Doesn’t Meet Urgency Of The Moment

Failing to Invest What’s Needed Could Cost Americans Trillions of DollarsMillions of JobsLost ManufacturingBroken InfrastructureHigher Transportation CostsDamage From Climate Change-Related Disasters

Economists: “The infrastructure counter-proposal offered by Senate Republicans would undermine our recovery and stifle future economic growth…These cuts would hamper the creation of millions of jobs for middle class workers, and would further solidify the long-standing inequities that made middle class families so vulnerable to the economic costs of the pandemic.”

WASHINGTON, DC — Today, nearly 30 economists signed a statement urging the Biden administration and Congress to reject Senate Republicans’ infrastructure counter-proposal, arguing that their plan would undermine U.S. economic recovery and stifle future economic growth.

At a meeting with White House officials this week and during several interviews, Senator Shelley Moore Capito (R-WV), leading negotiations for Senate Republicans, doubled down on an infrastructure counter-proposal that guts crucial investments in caregiving, schools, rebuilding America’s manufacturing, and clean energy, which hurts middle class workers and families and would exacerbate inequality.

Read the full statement and its signers here. 

The United States needs big, bold public investment to address the massive loss of jobs during the pandemic, our underfunded infrastructure, the ever-widening inequities between the rich and the poor, the child care crisis that has forced millions of women out of the workplace, and the rising threat of climate change. President Biden’s American Jobs and Families Plans would begin to tackle these growing concerns while creating millions of high-paying jobs.

However, the infrastructure counter-proposal offered by Senate Republicans would undermine our recovery and stifle future economic growth. It eliminates key provisions of the president’s plan that are essential to building a stronger, more equitable, sustainable future, including all investments in caregiving, schools, rebuilding America’s manufacturing, and clean energy. These cuts would hamper the creation of millions of jobs for middle class workers, and would further solidify the long-standing inequities that made middle class families so vulnerable to the economic costs of the pandemic. 

We cannot create an equitable, sustainable economic recovery that ensures our long-term prosperity by ignoring caregiving and the threat of climate change, undercutting American manufacturing, and keeping middle class families on the backfoot by under-investing in infrastructure projects that would create jobs and spark economic growth. 

Congress and the Biden administration should reject the infrastructure proposal from Senate Republicans and work to pass an infrastructure plan that fully addresses the urgent needs of the country and the economy. 

The statement’s signers include: 

  • François Geerolf, UCLA
  • Neva Goodwin, Boston University & Tufts University
  • Haider Kahn, University of Denver
  • Raul Hinojosa, University of California Los Angeles- NAID Center
  • Stephanie Seguino, University of Vermont
  • Andres Vinelli, Center for American Progress
  • Dean Baker, Center for Economic and Policy Research(CEPR)
  • Julie Nelson, University of Massachusetts Boston
  • Peter Bohmer, The Evergreen State College
  • Rakeen Mabud, Groundwork Action
  • Daphne Greenwood, University of Colorado-Colorado Springs
  • Brendan O’Flaherty, Columbia University
  • Randy Albelda, University of Massachusetts Boston
  • John Roemer, Yale University
  • Dorene Isenberg, University of Redlands
  • Ellen Mutari, Stockton University
  • Yavuz Yasar, University of Denver
  • Kimberly Christensen, Sarah Lawrence College
  • Barry Bluestone, Northeastern University
  • Sarah Jacobson, Williams College
  • Noé Wiener, University of Massachusetts Amherst
  • Teresa Ghilarducci, The New School for Social Research
  • Fabio Ghironi, University of Washington
  • Gabriel Mathy, American University
  • Tracy Mott, University of Denver
  • Christian Proano, University of Bamberg
  • Naomi Zewde, CUNY
The signers above are available for interviews. To get in touch, please contact [email protected]

To date, the only infrastructure proposal the GOP has offered strips the funding in President Biden’s plan for job-creating investments in schools, caregiving, manufacturing, and clean energy, potentially preventing the creation of at least 1 million jobs and hurting American competitiveness.

Schools

  • The GOP plan cuts $137 billion in funding to upgrade and build new public schools, community college infrastructure, and child-care facilities.
  • Meanwhile, the American Society of Civil Engineers rated school infrastructure in the U.S. with a “D+” rating — and 28 million American students attend schools nationwide that need one or more building extensively repaired, overhauled, or replaced.
  • Research has shown “there is strong evidence that high-quality infrastructure facilitates better instruction, improves student outcomes, and reduces dropout rates.” Our school buildings’ structural faults “are significantly related to worse student achievement.” As such, proposals to eliminate school infrastructure investment are proposals to stunt our children’s educational growth and development.
Caregiving
Manufacturing: 
Clean Energy: 
  • The American Jobs Plan would create between 1 million and 1.2 million jobs per year through investments in clean energy, according to Robert Polling, economics professor and co-director of the Political Economy Research Institute (PERI) at the University of Massachusetts-Amherst.
  • Experts have applauded the American Jobs Plan’s clean energy investments as “a significant step in meeting our collective clean energy goals.” Eliminating these investments would only worsen climate change and prevent us from achieving the clean environmental future we need.
  • By stripping investments in clean energy, the GOP plan would forfeit more than 1 million jobs and inhibit our fight against climate change.

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.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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