PRESS RELEASE: STATEMENT: JOBLESS CLAIMS REMAIN HISTORICALLY LOW, ACTION NEEDED TO BUILD ON PROGRESS

FOR IMMEDIATE RELEASE 
April 28, 2022

Contact: 
Jack Miller, Communications Director
[email protected]

STATEMENT: JOBLESS CLAIMS REMAIN HISTORICALLY LOW, ACTION NEEDED TO BUILD ON PROGRESS

Thanks to Biden’s Agenda, America’s Economic Recovery Remains Strong

WASHINGTON, D.C. — Last week, 180,000 Americans filed for unemployment benefits according to data released today by the Bureau of Labor Statistics, a decline of 5,000 that keeps the number of jobless claims at historic lows.

Notably, the total number of people collecting jobless benefits is at its lowest point since 1970. The Biden jobs recovery has been one of the strongest periods of growth in U.S. history, creating millions of jobs and recovering at least 93% of jobs lost during the pandemic.

Invest in America’s senior adviser Zac Petkanas issued the following statement:

“This historic and durable jobs recovery did not happen by accident. After taking office in the depths of the pandemic and the worst economic downturn since the Great Depression, President Biden fought for – and passed – the American Rescue Plan and the Bipartisan Infrastructure Law, creating millions of jobs and saving countless families from financial hardship.

“Yet despite these gains, we still have work to do. Russia’s war on Ukraine and the continuing impact of the pandemic have raised prices around the world. The good news is that President Biden’s agenda would cut costs for families in energy, health care, child care, and more. Now is the time for Congress to act on these critical investments and ensure American families keep more money in their pockets and share in the benefits of our economic recovery.”

The investments in President Biden’s agenda will lower costs and cut taxes for working families. 

  • President Biden’s agenda will lower costs for working people:  

    • 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 the cost of long term care, expanding access to affordable home care to hundreds of thousands of Americans.

    • It will lower energy costs, saving the average American family $500 per year by investing in clean energy.

    • It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost saving premium tax credits; adding hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.

    • 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 taxes for low-and-moderate-income workers by extending the American Rescue Plan’s Earned Income Tax Credit to millions.

    • It will lower education costs by expanding Pell grants and making universal preschool a reality.

    • It will lower housing costs by creating more than one million new affordable homes in rural and urban areas.
  • President Biden’s 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.

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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