PRESS RELEASE: STATEMENT: JOBS DATA BEATS EXPECTATIONS, SHOWS CONTINUED GROWTH THANKS TO BIDEN’S INVESTMENTS
FOR IMMEDIATE RELEASE
March 30, 2022
Jack Miller, Communications Director
STATEMENT: JOBS DATA BEATS EXPECTATIONS, SHOWS CONTINUED GROWTH THANKS TO BIDEN’S INVESTMENTS
U.S. Continues Strong Job Growth Thanks to Public Investment
WASHINGTON, D.C. — Private employers added 455,000 workers in March, according to data released today by the payroll processing firm ADP, beating expectations again as job growth under President Biden continues to increase substantially. The ADP report noted that despite signs of a tightening labor market, hiring remains strong.
This news comes following what Treasury Secretary Janet Yellen called, “one of the strongest periods of economic growth in a century.”
Invest in America’s senior adviser Zac Petkanas issued the following statement:
“It’s no accident that the U.S. economy has seen record levels of job growth since President Biden’s inauguration. Thanks to his leadership, the American Rescue Plan, and the Bipartisan Infrastructure Law, we are seeing the strongest year of job growth in decades.
“President Biden’s agenda is working – and we need to build on that success. Congress must pass new legislation to support the Biden Agenda, cutting costs for families and investing in clean energy, lower prescription drugs costs, child care, and more. This tremendous economic recovery will not be complete until all Americans share in its prosperity.”
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.