PRESS RELEASE: STATEMENT: JOBS REPORT SHOWS U.S. ECONOMY ROARING UNDER BIDEN, DIRECT RESULT OF AMERICAN RESCUE PLAN

FOR IMMEDIATE RELEASE 
February 4, 2022

Contact:
Jack Miller, Communications Director

[email protected]

STATEMENT: JOBS REPORT SHOWS U.S. ECONOMY ROARING UNDER BIDEN, DIRECT RESULT OF AMERICAN RESCUE PLAN

Thanks to Biden Agenda, U.S. Sees Strongest Year of Job Creation in History

WASHINGTON, D.C. — Employers added 467,000 workers in January, according to the jobs report released today by the Labor Department, far exceeding expectations and making the past year the strongest 12-month period of job creation in U.S. history. November and December’s job numbers were also revised up, bringing the total number of jobs added during the first year of the Biden-Harris administration to 6.6 million.

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

“In no uncertain terms, President Biden is setting record levels of job growth. Thanks to the American Rescue Plan and the Bipartisan Infrastructure Law, the U.S. saw the strongest year of job growth in our history.

“Now, it’s time for Congress to continue that success and pass the Build Back Better Act. Rising costs for families threaten that progress and we cannot take our foot off the accelerator. Build Back Better would make critical investments in child care, housing, education, clean energy, and more – all while creating millions of jobs.

“President Biden has more than proven that his agenda, when fully implemented, is a stunning success. Let’s finish the job.”

The investments in President Biden’s full Build Back Better agenda will create jobs, cut taxes, and lower costs for working families. 

  • The Build Back Better agenda will create millions of jobs: 

  • 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 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.

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.

###