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Brian Deese Profile
Brian Deese

@briandeeseNEC

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White House Director of the National Economic Council

Joined January 2021
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@briandeeseNEC
Brian Deese
3 years
Many people don’t realize this, but because of historically strong economic growth & policy choices, the deficit last year actually fell. By $360bn. AND Maybe even more surprising, we're on track to see the federal deficit fall by >$1T this yr, the largest nominal decline ever.
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Brian Deese
3 years
Worth stepping back and taking stock: A year ago, there were 21.1 million unemployment insurance claims the week of the Thanksgiving holiday. This week, 2.4 million.
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@briandeeseNEC
Brian Deese
4 years
A morning thread on the American Rescue Plan. There are a number of outcomes from this legislation that have gotten less attention, but will change a lot of lives:
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@briandeeseNEC
Brian Deese
4 years
Another morning thread on elements of the American Rescue Plan that are less recognized, but will affect a lot of people’s lives:
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@briandeeseNEC
Brian Deese
2 years
It has been an unspeakable privilege to serve @POTUS . Thank you: For putting your trust in me; For leading us with resolve and integrity; and For your unwavering vision that we can and will build an economy that works for all Americans.
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@briandeeseNEC
Brian Deese
4 years
As @POTUS hits the road, one more morning thread on elements of the American Rescue Plan Act of 2021 that people may not yet fully understand, but will be vital to many lives:
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@briandeeseNEC
Brian Deese
3 years
Key truths of @POTUS 's Build Back Better agenda: 1. Net cost is zero. Fully paid for; w/fairer tax code and no impact on ppl making <$400K 2. Investments are spread over a decade; less than 1% of GDP per yr 3. ↓ families’ costs; ↑ labor supply; ↓ long term price pressures
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Brian Deese
3 years
CBO, February 2021: Unemployment rate will reach 4.2% by Q1 2025. November 2021: Unemployment rate reaches 4.2%. The American Rescue Plan is driving the strongest jobs recovery in modern history.
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@briandeeseNEC
Brian Deese
3 years
CBO data out yesterday shows that the budget deficit was $571 billion smaller in the first 5 months of FY’22 compared to the prior year - cut by more than half. This marks an important departure from the deficit increases we saw in recent years prior.
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@briandeeseNEC
Brian Deese
3 years
The actual Build Back Better bill is projected to save more than $2 trillion through 2041.
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@briandeeseNEC
Brian Deese
3 years
As '21 closes out, here's where we are: - Strongest economic growth in nearly 40 yrs; - Lowest unemployment insurance claims in 52 yrs; - Strongest monthly job growth in more than 80 yrs; We are poised to tackle our '22 challenges from a position of unique economic strength
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@briandeeseNEC
Brian Deese
3 years
"Jane Hunter, chief executive of Tritium, told Bloomberg News that her company decided to invest more heavily in its U.S. operations after seeing an increase in demand with the passage last year of the bipartisan infrastructure bill championed by Biden."
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@briandeeseNEC
Brian Deese
4 years
It makes the most significant childcare investment since WW II; $40bn to: - Reduce child care costs for families - Help women who left jobs to take on caregiving - Rebuild the child care providers; mostly small, community-based bizs - Increase pay & benefits of childcare workers
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@briandeeseNEC
Brian Deese
4 years
It makes healthcare more affordable: -The 12m people getting healthcare through the exchanges will likely get a tax credit - A family of four making $90k could see their monthly premium drop by $200 -No one will pay more than 8.5% of household income on the benchmark plan
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@briandeeseNEC
Brian Deese
3 years
The American Rescue Plan is historic, and vital. We need to keep this going.
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@briandeeseNEC
Brian Deese
4 years
It makes major progress on housing assistance: - $27.4b in rental assistance - $10b in homeowner assistance - $5b in Section 8 housing vouchers - $5b in homelessness assistance
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@briandeeseNEC
Brian Deese
4 years
The core theory of the American Rescue Plan is to power an economic recovery by providing tangible help to low-income and middle class families. Because of the law: 4 out of 5 people shopping for health insurance will now find a plan for $10 or less/month
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@briandeeseNEC
Brian Deese
4 years
It expands healthcare coverage: - By making healthcare more affordable, it will reduce the number of uninsured by at least 1.3 million by next year.
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@briandeeseNEC
Brian Deese
4 years
It will cut homelessness: - Homelessness during COVID = economic pain and increased disease transmission - ARP will help ~80K households get permanent housing - Create addtl ~32K perm affordable housing units - Give homeless kids children wrap-around services thru schools
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@briandeeseNEC
Brian Deese
3 years
Yellen: "Asking 'will these tax increases hurt the economy?' is not the right question...The right question is: 'Is trading higher taxes on high-income taxpayers for middle-class tax cuts and major economic investments pro-growth?" The answer: a resounding yes
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@briandeeseNEC
Brian Deese
4 years
- This will put money in the pockets of 17m low income workers, incl the 6m people who the federal tax system taxes deeper into poverty bc of a low EITC. - The occupations with most workers who would benefit: cashiers, food preparers, servers, and home health aides
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@briandeeseNEC
Brian Deese
4 years
It provides a tax cut to essential workers: - It raises the maximum EITC for childless workers from ~$530 to ~$1500, and allows more low income workers to qualify - It makes young adults aged 19-24 who aren’t full time student and people over 65 eligible (Cont.)
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@briandeeseNEC
Brian Deese
4 years
It makes largest investment in our history in Tribal govts and Native communities, incl: -$20b to stem economic crisis in native communities - $6b to Native health systems; incl crucial mental health services support - $1.1 b for Native education; $1 b for tribal child care
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@briandeeseNEC
Brian Deese
3 years
Morning healthcare thread: - On Feb 15, @POTUS initiated a special Affordable Care Act special healthcare enrollment period. - Through Mar 31, more than 500k new people signed up. Important progress on extending affordable healthcare.
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@briandeeseNEC
Brian Deese
4 years
This is heartbreaking. America is facing an unprecedented hunger crisis. The American Rescue Plan includes measures with bipartisan support to attack this crisis head on. We need action now.
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@briandeeseNEC
Brian Deese
4 years
It protects veterans from being targeted by for-profit schools: - For too long, the law encouraged low quality, for-profit schools to exploit vets and their families - For years, there have been calls to close the “90/10 loophole” to protect vets - The ARP finally got it done
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Brian Deese
4 years
It compensates for the school meals that needy kids are missing: - 30M kids rely on free/reduced price school meal program to keep from going hungry - School closures create a crisis for these kids - ARP gives direct payments to families for the cost of these meals, thru summer
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@briandeeseNEC
Brian Deese
4 years
It rescues public transit: - Public transit systems are engines of economic oppty & key to fighting climate change - COVID threatens PT systems & those who depend on them - ARP has $28B to protect transit workers from layoffs & support the 7M people who need PT to get to jobs
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@briandeeseNEC
Brian Deese
3 years
3.9% A simple number. But behind it are millions of American workers and families; whose lives are better because of the historically strong economic recovery in 2021.
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@briandeeseNEC
Brian Deese
4 years
It makes healthcare easier and cheaper: - If you lose coverage bc you lose a job or hours, ARP covers 100% COBRA premiums for 6 mths - If you're out of work w/out coverage, you get a Silver plan w/$0 premiums. $0. - 80% of those shopping on exchanges can get plan for $10/mth
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@briandeeseNEC
Brian Deese
4 years
In the last two weeks, the SBA has approved: - 45,000 more loans to businesses with 5 or fewer employees - 14,000 more loans to minority-owned businesses - 14,000 more loans to businesses in rural areas This is progress. We need to keep it up.
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@briandeeseNEC
Brian Deese
4 years
It provides small biz owners w/ risk capital: - COVID forced 400K small biz to close - As econ recovers, small biz will urgently need capital access - ARP creates $10b Small Biz Oppty Fund to leverage 5-10x in capital - Will focus on underserved firms & places across America
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@briandeeseNEC
Brian Deese
3 years
We are seeing an historic comeback of American manufacturing. Companies investing in America again. It’s not an accident; flows from a concerted @POTUS strategy to restore US industrial strength and win the clean energy markets of the future.
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@briandeeseNEC
Brian Deese
4 years
It delivers disproportionate benefits to rural America: - Roughly half of all children living in rural areas will benefit from Child Tax Credit expansions - One in four childless adults in rural areas will benefit from expanded EITC
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@briandeeseNEC
Brian Deese
3 years
Yesterday, an innovative Australian company announced it will locate production here b/c the Bipart Infrastructure Law makes America more attractive to invest & build products, incl for export. This is what an American manufacturing comeback looks like.
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@briandeeseNEC
Brian Deese
4 years
It delivers debt relief to farmers of color: - Systematic discrimination has contributed to farmers of color losing 90% of their land - Pandemic has made things worse, driving up debt - ARP provides $4B for debt relief; $1B USDA training, land grants & racial equity commission
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Brian Deese
2 years
Building more affordable housing will improve mobility/opportunity AND reduce pressure on housing and rental prices. We have under-invested in building affordable homes for a decade+ Tomorrow we will announce actions to change that in a big way.  Stay tuned.
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@briandeeseNEC
Brian Deese
3 years
A PM thread on lead and clean drinking water: • Earlier this year, @POTUS called for eliminating all lead water lines and pipes in America (as well as an historic investment in lead paint remediation). • It's a big infrastructure goal – and also a big deal for public health
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@briandeeseNEC
Brian Deese
4 years
Largest investment in history. Coming not a moment too soon.
@brianschatz
Brian Schatz
4 years
Tribal communities set to receive big infusion of federal aid.
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@briandeeseNEC
Brian Deese
4 years
Unions put power in the hands of workers. We should encourage unions. That means: - No intimidation - No coercion - No threats - No anti-union propaganda
@POTUS
President Biden
4 years
Workers in Alabama – and all across America – are voting on whether to organize a union in their workplace. It’s a vitally important choice – one that should be made without intimidation or threats by employers. Every worker should have a free and fair choice to join a union.
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@briandeeseNEC
Brian Deese
2 years
It is happening all over America
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Brian Deese
3 years
This bears repeating… SURPRISING: b/c of historically strong economic growth & policy choices, the deficit last year actually fell. By $360bn. MORE SURPRISING: We’re on track to see the fed deficit fall by > $1T this yr; largest nominal decline ever.
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@briandeeseNEC
Brian Deese
4 years
It will help rebuild local economies & hard-hit industries: - $3B in addtl Econ. Devt. Admin. grants for non-profits & rural areas - $750M reserved for regions w/ hard-hit travel/tourism sector - Strengthens EDA’s role under the National Disaster Response Framework
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@briandeeseNEC
Brian Deese
2 years
Last month, NO top airline guaranteed to cover meals or hotels when your flight is cancelled or delayed. Only 1 guaranteed free rebooking. @USDOT called this out. What happened?: 8 cover hotels; 9 cover meals; 9 rebook for free. That’s progress going into a holiday wknd.
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Brian Deese
4 years
We’re making 5 important changes to PPP today: 1. Smallest biz ( < 20 employees) get 2-wk exclusivity 2. Sole proprietors now have access 3&4. Student loan debt and non-fraud criminal record are no longer barriers 5. All lawful US residents can apply
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Brian Deese
2 years
Requiring prescriptions to buy hearing aids is an unnecessary burden and a barrier to entry for new firms, driving up costs. Today, we’re fixing that. By Oct, people can buy many hearing aids OTC, saving an avg $2,876/pair. Lower costs. More competition.
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@briandeeseNEC
Brian Deese
3 years
“This bill is going to be the biggest cost-cutting bill for working class and American families in decades in this country. And it’s going to go at costs that are persistent problems for American people in their lives.” @FoxNewsSunday
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@briandeeseNEC
Brian Deese
3 years
3 takeaways from Moody’s. Over a decade, @POTUS ’s Bipartisan Infra Framework and BBB will: - Add ~2M jobs/yr - Grow GDP by >$4.5T - Reduce price pressure by boosting productivity and labor force participation. These are investments the nation needs.
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@briandeeseNEC
Brian Deese
2 years
The Inflation Reduction Act in action: "The biggest U.S. solar-panel maker said it plans to spend as much as $1.2 billion to boost manufacturing capacity at home by around 75%."
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Brian Deese
2 years
Another strong monthly budget report from CBO out today. The deficit has fallen $1.6T from last year. Largest decline in history. This did not happen by accident. It’s propelled by historic economic growth and Americans getting back to work.
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Brian Deese
3 years
Yesterday @POTUS announced that ⁦ @UnionPacific ⁩ will make the largest ever purchase of battery electric locomotives — manufactured in Erie PA by ⁦ @WabtecCorp ⁩. There’s momentum behind in America’s manuf comeback. We need to keep it going.
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Brian Deese
3 years
The White House’s latest biweekly supply chain tracker is out. The main takeaways? Goods volume moving through ports is up. Container dwell times are down. Inventories remain above pre-pandemic levels.
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Brian Deese
3 years
1 ) 26-40% faster holiday delivery times than BEFORE the pandemic 2) More goods on shelves than any month on record - since 1992 3) New port initiatives to further improve fluidity Progress.
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Brian Deese
3 years
From nearly 900,000 initial weekly UI claims at the beginning of the year to less than 200,000 today – the lowest since 1969. Unprecedented recovery.
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Brian Deese
2 years
The Inflation Reduction Act will bring down the costs of prescription drugs, healthcare, and energy – all while reducing the federal deficit. This is a smart, prudent way to bring prices down on the fiscal policy side, giving families real, tangible relief.
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Brian Deese
4 years
A reminder: the American Rescue Plan would reduce poverty this year by - 51% for children; - 39% for Hispanics; - 34% for Blacks; and - 22% for Asians.
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Brian Deese
3 years
Thanks to months of partnership w/ ports, labor leaders, retailers, ocean carriers, and truckers, our supply chains continue to improve. Compared to last year – imported goods are higher, inventories are higher, retail sales are higher. Read the latest:
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Brian Deese
3 years
Walmart: Inventory is up 11% Target: “We are in an excellent inventory position” Etsy: “[Small business partners] are less concerned about supply chain challenges this year than they were last year”
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@briandeeseNEC
Brian Deese
3 years
White House details plans to improve housing affordability
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Brian Deese
3 years
This is an extraordinary stat; reflecting extraordinary momentum. +20% of passenger vehicle (8% of light-duty) sales were electric, up 3x from 2020
@alizaidi46
Ali Zaidi
3 years
Two record-setting stats on shift to clean cars & power from end of first half of 2021: +20% of passenger vehicle (8% of light-duty) sales were electric, up 3x from 2020 +9,990 megawatts of wind, solar, storage — biggest ever, up 17% from 2020 Source: @atlasevhub @USCleanPower
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Brian Deese
3 years
The data on “stocked shelves” tells a different story than much of the reporting. For months, we’ve tracked @iriworldwide ’s on-the-shelf availability at grocery & drug stores. Pre-pandemic availability was 91% and in Dec it was 90%. Today it’s 89% and higher than 1 year ago.
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Brian Deese
3 years
In the past three months, the number of long term unemployed has fallen by 1.3 million. That is the largest three-month decline since BLS began keeping records in 1948.
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Brian Deese
3 years
"The U.S. is the only major country in which expectations for 2025 GDP among Wall Street forecasters are currently higher than they were in January 2020."
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Brian Deese
3 years
For decades, we have under invested in our domestic semiconductor manufacturing capacity. Which has undermined our economic and national security. That is starting to change, in a big way.
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Brian Deese
4 years
Today, ⁦ @POTUS ⁩ will launch supply chain review of: 1. Semiconductors 2. High capacity batteries 3. Pharmaceutics & active ingredients 4. Critical minerals, incl rare earths Resilient supply chains = better jobs, innovation and nat’l security
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Brian Deese
3 years
"In a new survey conducted from Oct 27 - 29, we find that a +52-point margin of voters support Biden’s corporate minimum tax proposal. This includes a +79-point margin of Democrats, a +52-point margin of Independents, and a +26-point margin of Republicans"
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Brian Deese
3 years
“NAHB welcomes the Biden administration’s move to reduce duties from 17.99% to 11.64% on softwood lumber shipments from Canada into the U.S. Reducing these tariffs is an important step forward to addressing America’s growing housing affordability crisis"
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Brian Deese
3 years
A PM thread on infrastructure: This is a huge milestone for the American economy. The impact of the Infrastructure Investment and Jobs Act (IIJA), if passed in the House, will be felt across all parts of this country. Consider:
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Brian Deese
2 years
We’re calling on the nation’s best and brightest to join our ranks. Help us implement a once-in-a-generation transformation of our country’s infrastructure.
@SecretaryPete
Secretary Pete Buttigieg
2 years
We're hiring! Rarely in U.S. history has there been such a fitting time to enter a career in public service. @USDOT is ready to bring on thousands of new employees. Learn more:
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Brian Deese
3 years
We are hard at work helping facilitate an historic volume of goods through our private sector supply chains. Decisive action at our ports in the past weeks - and the certainty of infra investments in the weeks & months ahead - are making a difference.
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Brian Deese
3 years
Because of the American Rescue Plan, 90% of families will begin receiving a tax cut, starting July 15. This is crucial support that the President’s American Families Plan proposes to continue.
@nytimes
The New York Times
3 years
American families will start getting monthly child tax credit payments in July. Families with children under 6 years old can receive $300, while those with children over 6 can receive $250. The payments are phased out based on income levels.
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Brian Deese
3 years
. @POTUS heads to PA today amidst an historic manufacturing comeback in America. This was not guaranteed. It is the result of an industrial strategy @POTUS has been pursuing since day one. Now we need to keep the momentum going. My piece out today:
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Brian Deese
3 years
369 Mayors to Congress: "we urge you to take immediate action on the Bipartisan Infrastructure Framework announced by President Biden and a group of Republican and Democratic Senators"
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Brian Deese
3 years
Consumer confidence in June jumping to its highest level since the economy shut down… The share of consumers believing jobs are plentiful hitting a 21-year high… More distance to travel, but this is what a strong economic recovery looks like.
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Brian Deese
3 years
From the mouth of the IRS Commissioner: “If you’re a wealthy cheat in a partnership, your odds of getting audited are slightly higher than your odds of getting hit by a meteorite.”
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Brian Deese
3 years
17 companies, in total representing ~500K American jobs and ~$500B in rev annually, are coming out to support BBB and the clean energy progress it will achieve. Bottom line: Strengthening the country’s industrial base & fighting the climate crisis goes hand-in-hand.
@carrier
Carrier
3 years
Carrier is proud to join 16 other leading companies in the U.S. urging congress to include the strong climate provisions in the Build Back Better Act in the final legislation. Read the letter here: .
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Brian Deese
3 years
Important piece: "The refundable child tax credit is not inflationary if paid for; is not a disincentive to work; and ought to be viewed as a public investment with a high rate of return."
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Brian Deese
3 years
The infrastructure bill will make the largest investment in history in our nations ports.
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Brian Deese
4 years
The needs of the American people aren’t partial; we can’t do this piecemeal.
@PressSec
Karine Jean-Pierre
4 years
The needs of the American people are urgent from putting food on the table, to getting vaccines out the door to reopening schools. Those aren’t partisan issues. We are engaging with a range of voices—that’s democracy in action—we aren’t looking to split a package in two.
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Brian Deese
3 years
"The $1 trillion infrastructure bill, the single largest federal investment in American history, includes $17 billion for infrastructure improvements at coastal and inland ports, waterways and ports of entry along the U.S. border."
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Brian Deese
2 years
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 .
@briandeeseNEC
Brian Deese
2 years
It has been an unspeakable privilege to serve @POTUS . Thank you: For putting your trust in me; For leading us with resolve and integrity; and For your unwavering vision that we can and will build an economy that works for all Americans.
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Brian Deese
3 years
For June through September, existing job growth estimates have been revised upwards a cumulative 626,000 jobs. “If those revisions were themselves a jobs report, they’d be an absolute blockbuster.” @andrewvandam
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Brian Deese
3 years
“Instead of austerity, Biden’s solution is a more vibrant economy.”
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Brian Deese
3 years
A PM thread on climate and economic opportunity: The IPCC report is a stark, sobering assessment of the climate crisis It also underscores our opportunity: if we act w/urgency + ambition, we can innovate, create millions of good jobs and build a more durable, equitable economy
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Brian Deese
4 years
If we fail to pass the ARP, the average meal benefit to hungry families will fall back to $1.39 per meal. $1.39
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Brian Deese
4 years
While the American Rescue Plan alone won’t solve the hunger crisis in America; without it, millions of Americans will go hungry in the coming months. That is what’s at stake as the Senate considers this legislation today.
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Brian Deese
3 years
The U.S. has the strongest economic recovery of any major economy. We are able to meet our economic challenges from a position of strength. Today's multilateral action underscores @POTUS 's commitment to supporting an economic recovery that works for American families.
@ENERGY
U.S. Department of Energy
3 years
In response to the highest oil prices in 7 years, the Biden Administration takes decisive action to address lack of supply to lower prices for Americans at the pump:
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Brian Deese
4 years
Morning in Washington. Time to get to work.
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Brian Deese
3 years
- @POTUS will also ask FTC to address unnecessary occupational license reqs, which are up 6-fold since the 1950s. - Less than 5% are consistent across states, decreasing economic & geographic mobility. - This especially hurts military spouses, like teachers, who move often.
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Brian Deese
3 years
Context for @POTUS 's point that the share of goods on shelves is at 89%, compared to 91% pre-pandemic.
@briandeeseNEC
Brian Deese
3 years
The data on “stocked shelves” tells a different story than much of the reporting. For months, we’ve tracked @iriworldwide ’s on-the-shelf availability at grocery & drug stores. Pre-pandemic availability was 91% and in Dec it was 90%. Today it’s 89% and higher than 1 year ago.
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Brian Deese
2 years
Gas prices have fallen for 49 days -- seven straight weeks of decline. Down 83 cents, or 17%. About $100/month in savings for the typical two-car family. AND There are now 80,000 gas stations across the country where gas is $3.99 a gallon or less.
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Brian Deese
3 years
In Oct, the Administration brokered agreements w/ major ports, labor leaders, and retailers to initiate 24/7 operations for transporting goods across the country. We also committed to regularly monitor and report on progress. Our latest is out today:
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Brian Deese
2 years
In Jul ‘21, @POTUS ’ Competition EO directed HHS to consider proposing rules for hearing aids to be sold OTC w/o a prescription Fast forward to today, affordable hearing aids are now available on retail shelves across the country An outcome millions of Americans long hoped for
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Brian Deese
2 years
"The construction of new manufacturing facilities in the US has soared 116% over the past year" American factories are making stuff again. @POTUS 's modern industrial strategy is helping drive this trend. We need to keep this momentum going.
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@briandeeseNEC
Brian Deese
3 years
A daily dose of what the infrastructure bill means for America: -30M Americans live in areas without high-speed internet access -This bill includes the largest investment ever in broadband, a new Affordable Connectivity Benefit program, & digital equity and inclusion programs.
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