PRESS RELEASES: STATEMENT: JOBLESS CLAIMS DROP TO ANOTHER HISTORIC LOW, SHOWING SUCCESS OF BIDEN AGENDA AND NEED TO BUILD ON PROGRESS

FOR IMMEDIATE RELEASE 
March 24, 2022

Contact: 
Jack Miller, Communications Director
[email protected]estinamericanow.com

STATEMENT: JOBLESS CLAIMS DROP TO ANOTHER HISTORIC LOW, SHOWING SUCCESS OF BIDEN AGENDA AND NEED TO BUILD ON PROGRESS

Weekly Jobless Claims Near a 53-Year Low

WASHINGTON, D.C. — Last week, 187,000 Americans filed for unemployment benefits according to data released today by the Bureau of Labor Statistics. The last time unemployment claims were lower was 1969. This report is further proof of the success of President Biden’s agenda, which helped the American economy recover from its lowest point in the pandemic, cut unemployment, and created a record number of jobs.

Invest in America’s communications director Jack Miller issued the following statement:

“This jobless claims report speaks for itself. Thanks to President Biden and his American Rescue Plan and Bipartisan Infrastructure Law, Americans are living in the strongest labor economy in 53 years – an economy that has exceeded every expectation from when President Biden took office.

“But even as our economy grows at record pace, there is still work to be done. Congress must address rising prices due to the pandemic and build on President Biden’s success. That means investing in clean energy, child care, education, and health care to cut costs for families.”

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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