GeneSperling46
@GeneSperling46
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White House American Rescue Plan Coordinator and Senior Advisor to President Biden
Joined May 2021
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Last Seen Profiles
Some have a curious obsession with exaggerating impact of the Rescue Plan while ignoring the degree high inflation is global, has been impacted by variants that impeded supply corrections, & exacerbated by major energy hikes due to Putin aggression.
Fmr Obama adviser Steve Rattner, on
@Morning_Joe
today: “We’re all paying the price for having overstimulated the economy during the pandemic—putting too much money in people’s pockets, which created a lot of inflation. There’s no free lunch here & we’re all paying the price”
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President Biden First 2 Years: Highest 2 Years for Small Business Applications on Record.
1.58 million more new Small Business applications PER YEAR than annual average in previous Administration.
MORE in
@POTUS
2 years than 3 first years of previous Administration combined!
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Next time someone tells you the American Rescue Plan “over-learned” lessons from Great Recession — show them this: At this point in last recovery:
Unemployment: 9.0%. Now: 3.5%
Black UE 15.9% Now: 6.0%
Hispanic UE: 11.2% Now: 3.9%
Long-term UE: 6.3m Now 1.1m
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IMPORTANT: Congress just passed 2 critical bills to extend the statute of limitation to 10 yrs for those who committed fraud on PPP or EIDL Loans.
More time to go after criminal syndicates & others who betrayed the public on emergency aid designed to save jobs & small businesses
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Critical call from
@POTUS
today at the WH Conference on Hunger, Nutrition and Health: “The expanded Child Tax Credit is one of the most effective programs we’ve ever seen. And that’s why my national strategy calls for Congress to expand the Child Tax Credit permanently.” 1/3
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Want to highlight one of these points.
More jobs have been created under
@POTUS
in two years - half a Presidential term — than in any full 4-year Presidential term. Ever. In. History.
12.1 million jobs in just 2 years.
A historic jobs day at the WH:
- Unemployment lowest since 1969
- More jobs created in two years than any President has in a four year term.
- Record low Black unemployment
- Record low Black female unemployment
A strong economy!
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BEFORE a American Rescue Plan Moody’s estimated that without it — US was at risk of losing 600K jobs in 2021 2Q.
AFTER
@POTUS
signed American Rescue Plan — US had the two top years of job growth in US history. All lost jobs have been regained + an additional 3 million jobs.
The American Rescue Plan laid the foundation for our historic recovery and helped us to regain all of the jobs lost during the pandemic.
We’ve added a record 12 million altogether.
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Thank you
@VP
for your leadership on American Rescue Plan and especially its expanded, monthly Child Tax Credit, which:
— was major tax relief for 40M working families.
— cut child poverty in 1/2 to lowest ever 5.2%
— cut Black, Hispanic & Native Am child poverty to record lows
Today, on the second anniversary of the American Rescue Plan, I'm sharing three ways this historic law has benefitted working families and our nation.
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This thread on actual facts on
@VP
performance. And let me add a couple:
@VP
has repeatedly been our champion for outreach on Child Tax Credit after leading on monthly tax cuts as Senator.
@VP
has led on promoting historic increase in CDFI & was 1 of 4 key Senate sponsors.
As we've seen over the past week there is no shortage of people willing to anonymously or publicly tear down the vice president. So since no one seems to know what she has done or is doing I'll put in all in one place:
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A lot of facts are tweeted out from all corners every day. This is one - and there are many - that just makes me stop, take it in, and just swell up with immense pride that I work for Joe Biden
@POTUS
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Key point: The agreement exempts those homeless or veterans of ALL AGES subject to SNAP work requirements - including those 18-49. And it exempts former foster youth. This is a very positive reform.
Specifically, the agreement will exempt from time limits people living in shelters, the unsheltered, & individuals temporarily living in someone else's home.
This means the agreement will provide meaningful & much-needed support for Americans who are homeless & housing insecure.
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Biden Eviction Strategy “Saved Millions of Americans From Eviction & the Data Proves It”
✅“Drove eviction filing rates to historic lows”
@evictionlab
✅>7M households helped
✅4.7M fewer renters behind on rent
✅In just 31 metros, 800K evictions prevented
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Just no question that this “incredible rebound” - fastest in world, most equitable recovery with least scarring perhaps ever — would not have happened without President Biden’s American Rescue Plan.
Sometimes you need to look at the big picture: It's been an incredible rebound from the 2020 pandemic recession.
The US has recovered all output lost in the crisis and gotten back on trend.
GDP
2022: +2.1%
2021: +5.9%
2020: -2.8%
via
@abhabhattarai
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Too many ignore that ARP led to less scarring (LT UI, Youth UI, Evictions, Foreclosures, Credit Card Delinquencies) than any recovery in memory – & put us in a uniquely strong position to take on our current challenges.
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Big healthcare news: thanks to ACA under
@BarackObama
and
@POTUS
’s American Rescue Plan, US had uninsured rate of 8% in Q1 2022 – LOWEST IN HISTORY. Under Biden Administration, over 5 MILLION people who didn’t have insurance before have gained coverage
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Not only does the December 2022 unemployment rate of 3.5% tie the lowest of the last 50 years.
The average unemployment rate for all of 2022 is better than the whole year of 2019 and the lowest of any full year in 53 years — since 1969.
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Many GOP members called this a “bailout.” Absurd. This protection does not go to big companies or CEOs. It goes directly to workers & retirees who worked for decades — and took less wages so they could save for a strong retirement. It’s about keeping promises earned by hard work.
Today, we mark a major milestone: We have protected one million pensions from devastating cuts thanks to my American Rescue Plan.
That’s what it means to build the economy from the middle out and the bottom up, and to protect the dignity of work.
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On American Rescue Plan’s Expanded, Child Tax Credit, which:
— was in first ever monthly tax relief implemented in only 4 months:
— cut child poverty to record low
— tax relief to 40 million families w/65 millions kids:
@VP
has a clear message: “It’s time to make it PERMANENT.”
Today, on the second anniversary of the American Rescue Plan, I'm sharing three ways this historic law has benefitted working families and our nation.
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New April OECD Report: Inflation in 38 Nation OECD Area at 9.2%: Core Inflation 6.3%.
Standby for Rosemary Woods-like-stretch by some to suggest that 38 nation 9.2% inflation average is due to increment of America Rescue Plan they thought was too large.
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But consider:
-OECD (38 member countries): 8.8% headline inflation, 5.9% core
-UK: 9% headline inflation (40-year high), 6.2% core
As
@POTUS
notes in his op-ed today, the "U.S. is in a better economic position than almost any other country" to deal with what is truly a global problem with inflation. A not-so-short thread on how widespread those global inflation problems are. 1/
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This. Evidence that the American Rescue Plan expanded Child Tax Credit was tax relief that helped tens of millions of working families care for children & support housing/food - in addition to cutting child poverty in half. Here is a thought: bring it back! - as
@POTUS
proposed.
More evidence that the CTC helped families
For each $100 of CTC payment, families spent $75, mainly on food ($28), housing ($31), and child-related goods and services ($15)
Larger responses among Black and Brown families
No impact on alcohol/tobacco
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Since
@POTUS
signed CHIP and IRA “companies plan to spend over $200bn on clean technology and semiconductor US manufacturing projects… nearly TWENTY times the amount in 2019.”
This is what the results of a true Invest in America strategy looks like.
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It’s official: The American Rescue Plan & its Child Tax Credit cut poverty and child poverty to their lowest ever. Child Poverty cut nearly in half: from 9.7% to 5.2%.
White, Black, Asian, Native American, and Hispanic Child Poverty fell to their lowest levels ever.
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This.
No, I do not think it's acceptable for a new mom in Detroit to be guaranteed ZERO days of paid leave to spend with her newborn, while just over the border in Canada, new moms are guaranteed 119 days.
If Canada can guarantee paid leave to its people, why can't we?
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BEFORE signing of American Rescue Plan, we were still down 600K manufacturing jobs. And had seen a manufacturing jobs recession -PRE-pandemic w/37K lost jobs 2/19-2/20.
AFTER American Rescue Plan, manufacturing jobs up about 800K jobs. Strongest 2 yr period in about 40 years.
With the signing of the American Rescue Plan, we laid the foundation for the progress we see today:
Record new business applications.
More Americans with health insurance than ever before.
Billions in investments in American manufacturing.
And jobs. 12 million of them.
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Congrats to the VW auto workers in Tennessee who just made history. Congrats to Shawn Fain & entire national/regional leadership. 73% is an overwhelming vote. Congratulations to POTUS for his powerful support of all workers having the right to organize.
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Next time someone tells you the Rescue Plan “over-learned” lessons from Great Rec, you might point out that @ this point in last recovery:
Unemployment: 8.6% Now: 3.5%
Black UE: 15.6% Now: 5.8% (below Feb'20)
Hispanic UE: 11.2% Now: 3.8% (record low!)
Long-term UE: 5.7m Now <1.1m
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From
@BillClinton
doubling & championing EITC to
@BarackObama
making permanent expansions in EITC & CTC refundability to
@POTUS
historic ARP expansion of CTC which halved child poverty, three Presidents have shown tax policy can promote economic dignity, honor work & cut poverty.
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Yes.
@VP
was time and again our champion on the Child Tax Credit. At major moments and major child tax credit events. She was one of early advocates of importance of a monthly tax credit to families with children.
@GeneSperling46
@RonaldKlain
@POTUS
The
@VP
was such a strong advocate for this incredibly effective policy. I know you both know this. I just wish more people did!
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“Toyota Gives Most US Auto-Factory Workers 9% Pay Bump Following UAW Gains in Detroit.”
Wondering if
@POTUS
is right that union and worker power drives middle class gains throughout the economy? Read WSJ below on immediate reactions to UAW-Big Three agreement.
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Critics of ARP point to those who agree but completely ignore when careful studies have found that ARP has had very marginal impact on inflation. Moody’s and a team at the San Fran Fed separately found that ARP contributed just 0.3% to US inflation.
Aggressive fiscal policy was key to ending the pandemic recession and behind the quick recovery. The controversial American Rescue Plan helped avoid a double-dip, has not materially added to the high inflation, and while costly, would have been as costly to taxpayers without it.
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This was the 40th state to do Medicaid expansion and the 4th to do so in part because of the significant financial incentives ($1.8 billion) from the
@POTUS
American Rescue Plan. 600,000 more in NC will now have more affordable health security. Congrats to
@NC_Governor
BREAKING
Medicaid expansion just cleared the North Carolina House, 87-24
Now headed to Gov. Roy Cooper for signature
Roughly 600K low-income residents stand to get coverage, though still depends on Cooper and legislature coming to a budget agreement
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Chris Slevin -- Louisa Terrell’s trusted WH Deputy of Legislative Affairs — has been a top unsung MVP in the White House. Integral to all the Biden historic legislative success. An amazing partner to Team American Rescue Plan. As wise, skilled and calm in the storm as they come.
U.S. Commerce Secretary Gina Raimondo Names Senior Biden White House Staffer Chris Slevin as New Chief of Staff
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And: a new analysis from JP Morgan Chase Institute shows that over the past two years, Black and Hispanic households experienced the highest real income growth, with Black households reaching about 7.5 percent annualized real income growth.
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Too many ignore how tremendously equitable this recovery is:
-Historic drops in Black & Hispanic UI (Hispanic UI has fallen from 9.4% in 12/20 to 4.1%)
-UI in Low Income Rural communities below pre-pandemic
-Real income gains for Black & Latino households
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You really had to almost be at White House to fully appreciate both how staggering were Brian’s accomplishments in helping to design & pass the historic Biden economic agenda and how deeply admired and cherished he was by his colleagues. A remarkable run. Bravo Brian.
Today is my last day at
@briandeeseNEC
.
I leave the White House humbled by what we have been able to accomplish over the last two years, and confident in the team moving forward. Time to finish the job!
Starting tomorrow, you can find me at
@BrianCDeese
.
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Using a small amount of funds from
@POTUS
American Rescue Plan, Oakland Co. will erase $200M in medical debt for 80,000 residents.
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Proud to announce that is now LIVE!
It’s one-stop shopping for the American Rescue Plan’s new child tax credit, that it is monthly, automatic and $3000-$3600 per child ($250-$300 per month) — and it will describe & link to simple non-filer CTC sign up.
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This story is completely misleading. Distorts budget accounting & ignores clear evidence school districts dramatically sped up emergency spending due to American Rescue Plan to safely open schools & have serious plans in place to address learning loss & student mental health
“Districts have yet to spend 93% of $122 billion sunk into the K-12 education system last year as part of the $1.9 trillion American Rescue Plan, according to data compiled by the U.S. Department of Education.”
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Help create awareness on June 21 of Child Tax Credit:
1. That it is automatic/monthly for almost all working families $3000 & $3600 for children < 6.
2. That we need AFP to ensure that the CTC goes on and on…
3. That we must sign up ALL children to cut child poverty in half.
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I have such deep respect & appreciation to Mark Mazur for his 3rd tour of duty - leading Treasury tax team until the excellent
@lilybatch
was confirmed. (Will miss our many CTC/EIP meetings!) Mark is as humble & decent as he is wicked smart, wise and a tax expert’s expert.
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More evidence of the American Rescue Plan's historically equitable recovery: "2021 will go down as a significant year for access to homeownership, reversing trends that largely bypassed people of color from the benefits of homeownership” following 2008.
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JOBS REPORT: More Evidence of Historic Equitable Biden Recovery:
— 2023: Lowest Full-Year Black Unemployment Rate Ever
— 2022-2023: Lowest Two Year Hispanic Unemployment Rate Ever
— 2023: Highest Employment Rate for People with Disabilities on Record.
Policy matters.
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"I support a fair transition to a clean energy future. That means ensuring that Big Three auto jobs are good jobs that can support a family... the UAW deserves a contract that sustains the middle class."
Statement from
@POTUS
on the UAW/Big 3 Negotiations
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In addition to the “Great Return to Work” caused by Rescue Plan - it has been a historically equitable return to work.
E.g. Black and Hispanic unemployment had historic drops in '21 & have roughly returned to pre-crisis rates after taking 6 yrs to recover after Great Recession
We’re in the midst of a "great return to work." It’s worth celebrating, the Editorial Board writes
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Critics also ignore that ARP has been a successful insurance policy preventing the recovery from being derailed by unforeseen events – e.g. Delta & Omicron, Russian aggression.
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Make no mistake: the deficit neutral reserve in the budget leaves no doubt that our Administration continues to pursue extension of a better, fairer child tax credit that gives more families breathing room and continues to lift children out of poverty.
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And no one can credibly argue that the increase in gas prices we are seeing has anything to do w ARP – with oil prices set on a global market and prices at the pump up going from $3.31 when Putin began amassing troops in Belarus on January 17 to $4.67 today.
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Out today: the American Rescue Plan Equity Report, covering 32 major ARP programs & highlighting historical equitable recovery. Black and Hispanic unemployment took 6 years to recover after end of Great Recession. Both are now BELOW pre-Pandemic levels.
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The House Republican bill calls for a 22% cut in non-defense discretionary (NDD) spending on the way to a 50% real cut.
What is the single largest item in the NDD that the GOP budget eventually cuts in half??
Vets Medical care and benefits.
Of course it will be deeply cut.
NOWHERE in the Limit, Save, Grow Act does it say that the VA budget will be cut.
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Many blame ARP for any diff btw US and Euro inflation, overlook other factors:
-Industries shut down fast (e.g. rental cars)
-Cars: Shortage --> 4x larger inflation impact on US
-Housing: 1.7M home shortfall driven by non-fiscal factors --> greater increases in US housing costs
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President Biden’s American Rescue Plan immediately prevented thousands of public safety layoffs.
Its record $15 billion for public safety gave 1000 communities more tools for violence prevention strategies, police overtime, new equipment & more.
Evidence is in. ARP mattered.
At the start of the pandemic, crime surged.
In 2020, under the previous President, America saw the largest *INCREASE* in murders ever recorded.
Then President Biden took office.
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Detroit sees population growth for first time since 1957!! Proof of what an excellent mayor
@MayorMikeDuggan
can do with a
@POTUS
who supports their city with a powerful American Rescue Plan and more.
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We've seen how effective the CTC is, cutting child poverty to record lows & food insecurity by 1/4.
Here,
@POTUS
again calls for “Congress to expand the Child Tax Credit permanently.” 2/3
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.
@evictionlab
's Matthew Desmond says CDC Moratorium & Emergency Rental Assistance are:
-"Most impt fed housing policy in the last decade"
-"Most impt eviction prevention policy in Am. history"
-Deepest federal "investment in low-income renters" since launch of fed. public housing
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This is the Biden Invest in America Strategy. The
@POTUS
economic strategy is making the US a magnet for job-creating production in the US. We’ve heard slogans before. This is what transformative once-in-a-generation results look like.
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Making summer EBT (for 30M kids) permanent: As
@POTUS
said “My strategy would also make permanent an ARP program that made sure families including over 30 million children had money to buy groceries in the summer months so kids don’t go hungry when school isn’t in session.” 3/3
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is new WH website that can be used to:
— organize for Child Tax Credit Awareness Day:
—- inform parents of 65 million kids on automatically receiving monthly child tax relief
— help low-income working families not required to file to sign up.
Proud to announce that is now LIVE!
It’s one-stop shopping for the American Rescue Plan’s new child tax credit, that it is monthly, automatic and $3000-$3600 per child ($250-$300 per month) — and it will describe & link to simple non-filer CTC sign up.
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The Good News About the Economy You are Not Hearing —- strong piece and good read from
@DeanBaker13
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.
@POTUS
on ratification of historic UAW contracts and how it demonstrates the power of unions to lift pay & dignity for all workers: “The UAW is fighting hard to ensure that all auto jobs are good, middle-class jobs – and I stand with them in that fight."
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Impt in Biden Budget: Extending the Rescue Plan's Expanded Monthly Child Tax Credit & making permanent the principle that low-income kids should get the same credit as everyone else.
While trickle-down fails – the CTC worked for 40M families & cut child poverty to lowest ever.
Under President Biden’s leadership, we’ve made historic progress in growing the economy from the bottom up and the middle out – not the top down.
Today, he is releasing a budget to build on that progress.
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The messages of cruelty and bigotry from some quarters to transgender Americans and particularly transgender youth is abhorrent and has no place in our nation. Proud to work for a
@POTUS
who makes clear he has no tolerance for such intolerance & demands dignity & respect for all.
Transgender people are some of the bravest Americans I know. But no person should have to be brave just to live in safety and dignity.
Today, on Transgender Day of Visibility, I renew my commitment to building a healthy, safe, free, and just future for trans people everywhere.
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No question that the overwhelming amount of potential fraud in this report happened in 2020 – due to previous admin taking down basic fraud guardrails that Biden Admin quickly reinstated. 1/
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The annualized CPI inflation rate over the last three months is 2.2%
The annualized CPI inflation rate over the last 6 months is 3.2%
Those rates were both over 9% a year ago.
Further progress on Core CPI is vital and needed. But the drop in headline CPI is still striking.
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.
@POTUS
calls for the expanded Child Tax Credit - which “cut the child poverty rate in half to the lowest level in history” and lifted up and gave breathing room to working families with 65 million children. Bravo!
Let’s finish the job.
See thread below
Proud
@POTUS
will call for “the expanded Child Tax Credit"
Unlike trickle-down, this middle-out, bottom-up tax cut led to:
-The lowest Child Poverty rate in history – only 5.2%.
-Tax relief that lifted 40M fams - middle class & poor
-1st monthly tax cut to >60 million kids 1/
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New: American Rescue Plan funds have helped 200K+ child care providers stay open:
-Help for 8 in 10 licensed Child Care centers in 🇺🇸
-9 in 10 say ARP helped them stay open
-In most states help in 98% of counties (including rural and persistent poverty)
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.
@VP
lays out how much the strong growth & policies of American Rescue Plan sparked small business growth:
— record 10.5M small business applications over 2 years.
— hundreds of thousands of small biz helped by equitable reforms of PPP, Restaurant program, EIDL expansion, SSBCI
Today, on the second anniversary of the American Rescue Plan, I'm sharing three ways this historic law has benefitted working families and our nation.
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Proud that my first American Rescue Plan tweet is to encourage all elected officials & organizations that fight for children to be part of the Biden-Harris Child Tax Credit Awareness Day on June 21. This is how everyone can be part of ARP implementation to lift up every child.
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What an inspired choice of an inspiring leader. Julie Su has been a hero of fighting wage theft/trafficking & standing up for workers since her epic win in the El Monte Thai Garment workers case. From state gov to DOL DepSec, she’s been a champion for the dignity of all workers.
Breaking: Biden nominates Julie Su to be Secretary of Labor
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The American Rescue Plan tripled the Earned Income Tax Credit for workers w/o dependent children to $1500 to reward their work. That raises pay & dignity of 17M workers, many front line workers
@POTUS
’s budget reinstates this tax cut to make work pay more for those 17M workers.
Today, I release my blue-collar blueprint to build on the progress we've made over the last two years.
We'll publish my 2024 budget at noon.
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This. A thousands times over. This. Hearing his loving words to his son only adds to my deep admiration for Joe Biden.
I spent time around Joe Biden during his first several years in the Senate. I was in meetings with him at 6 PM and he would get up abruptly to catch the train to Wilmington as he did every night to be with his two boys. He missed out on a lot of interaction with colleagues. 1
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The American Rescue Plan: 3 yrs of the Great 🇺🇸 Comeback Story
JOBS: HIGHEST 3 YRS IN HISTORY
Before ARP:
✅Unemployment 6.4% in Jan ’21.
✅Not projected to reach <4% until end of ‘25
After ARP:
✅25 months <4% unemployment, 50-yr record
✅+15M jobs
✅+5.5M > pre-covid 1/
President Biden’s American Rescue Plan put America on the move again.
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.
@BrianDeeseNEC
- my friend & brother of over 20 years — is the GOAT. His record of achievement — integral involvement in design & passage of 4 historic econ bills — is staggering. ://
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Impact of
@POTUS
efforts this week at US & coordinated oil releases??
After President Biden announced the SPR release on Thursday, prices slumped 7%..both benchmarks are on course for the biggest weekly falls in 2 years at 14% & 13% respectively.”
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High youth unemployment can lead to significant scarring for workers. We saw this after the 1982 recession & Great Recession
Due to Biden’s American Rescue Plan:
✅Youth Unemployment down from 11.3% in Jan 2021 to 6.5% in April 2023
✅Lowest rate of youth unemployment since 1953
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Long-term unemployment has now fallen a historic 75% since American Rescue Plan. Now lower than pre-crisis - after taking 9 yrs to reach pre-crisis levels following Great Recession. The American Rescue Plan has led to a historically equitable jobs recovery with very low scarring
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This.
Literally the only on-record critic in the story is Kevin McCarthy, who contradicts his own previous statements.
Receipts:
"'Very professional, very smart. Very tough at the same time,' McCarthy told reporters at the Capitol of his talks with Biden."
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The benefits to our hardest-pressed families of a fully refundable Child Tax Credit with simplified filing options in plain language could not be more clear or profound. Forever grateful to
@codeforamerica
for their collaboration with American Rescue Plan Team/Treasury/IRS.
Today
@codeforamerica
released important new research on the power of simplifed tax filing. The TLDR: Compared head-to-head, 5 to 8 times more families completed simplified than full filing. In 2021 & 2022, we help over 200k families claim $685 million
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Before the American Rescue Plan — only 10% of children in Puerto Rico were eligible for CTC even though 56% were in poverty. This filing season 97% are eligible. ARP has PERMANENTLY given children of PR equal treatment on the CTC for the first time.
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Proud
@POTUS
will call for “the expanded Child Tax Credit"
Unlike trickle-down, this middle-out, bottom-up tax cut led to:
-The lowest Child Poverty rate in history – only 5.2%.
-Tax relief that lifted 40M fams - middle class & poor
-1st monthly tax cut to >60 million kids 1/
President Biden will speak directly to the American people tonight about how we can work together to build an economy that works for everyone, boost our competitiveness in the world, keep the American people safe, and unite the country.
Make sure to tune in at 9 PM ET.
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No one can ignore
@ShalandaYoung46
math.
GOP proposal means a 22% NDD cut including veterans medical care: 30M less outpatient visits. The legislation does NOT protect vets care: the largest item (1/6th) of NDD. How does one defend this policy?
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Lael at NEC is a brilliant choice of a brilliant economist. Her macro analyses at the Fed were as insightful as anyone anywhere — while she also pushed for strong climate & low-income areas. A most respected colleague whose breadth of experience- WH/Treasury/Fed -is remarkable.
New: President Biden names Federal Reserve Vice Chair Lael Brainard to serve as the director of the National Economic Council, succeeding Brian Deese, and announces his intent to nominate Jared Bernstein to chair the Council of Economic Advisers.
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What an honor to be at White House Disability Pride celebration Monday and hear the beautiful song “Spaces” performed by great singer and disability advocate James Ian. Watch segment on PBS below.
@jamesianmusic
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More evidence
@POTUS
’s American Rescue Plan small business boom led to more start-ups in ALL of 🇺🇸
✅# of startups in 2022+2023📈surpassed pre-Great Recession levels
✅# of business establishments⬆️in > 80% of counties in last few yrs
@AmProg
@Brendan_Duke
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Two vital facts on GOP Budget proposal:
One, the 22% cut is for this coming year. These cuts become deeper and more draconian each year.
Two, the more the GOP tries to protect any specific sensitive area, the harsher the cuts are to everything else. There’s no where to hide.
No one can ignore
@ShalandaYoung46
math.
GOP proposal means a 22% NDD cut including veterans medical care: 30M less outpatient visits. The legislation does NOT protect vets care: the largest item (1/6th) of NDD. How does one defend this policy?
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Just a few of impacts:
- 40 million families getting expanded child tax credit
- 17 million mostly frontline workers getting triple previous EITC
- 14.5 million now getting more affordable health coverage
-4 million renters saved from potential evictions
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From design, to implementation, to guidance & reporting - the American Rescue Plan is historically focused on equity.
If you look at the size of the impact of the two cases with some litigation struggles — they make up about 1% of American Rescue Plan.
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More proof
@POTUS
's Rescue Plan led to strong recovery AND resilience
Pre-ARP, states forecasted just 3.7% rev. growth for '21 (after⬇️in '20) & half were cutting/freezing jobs
Post-ARP, rev. grew by 16.5% in '21 & "exceeded forecasts by 20.5%" in '22 1/
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More evidence that
@POTUS
economic plan is driving transition to stable growth:
-Women in the labor force up 340K in May
-Total labor force now up 4.2M from Jan'21 -- & just 207K below Feb'20.
-Prime age labor force participation is up to 82.6% -- above avg. 2019 rate
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This.
I don’t have any questions for the CEO of Norfolk Southern. I have some orders for the company.
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In NH at Teamsters Local 633 with
@SenatorShaheen
@SenatorHassan
& New England Teamsters Fund’s Ed Groden to announce 72,000 more Teamsters workers and retirees protected from brutal pension cuts. Total Teamsters pensions saved by Biden-Harris ARP now at 611,000.
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Most parents use child tax credit to meet the expected and unexpected expenses of raising children - increasing economic security for working families and reducing child poverty. Just one reason passing the Build Back Better bill tonight is just essential.
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Strong piece by
@thenation
on the powerful success of the American Rescue Plan’s Child Tax Credit in dramatically slashing child poverty and the overwhelming case for extension.
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