Expanding Economic Opportunity

Jobs and Economy
Democrats are fighting to raise wages, create jobs, and expand opportunity so all Americans can get ahead.
Creating jobs and expanding economic opportunity continues to be Democrats’ top priority.  Too many Americans are struggling to get by. That has to change, and that’s why Democrats are fighting for a better deal for middle class families and small businesses.  We are pursuing a Make It In America plan to address the current economic challenges facing working families by investing in three core areas: education, to ensure all Americans have the skills needed to get good-paying jobs; infrastructure, which will create jobs and better connect communities by repairing roads and bridges and expanding high-speed internet access; and entrepreneurship, to encourage Americans to start their own businesses by streamlining regulations, providing access to affordable health care and retirement savings, and increasing access to credit and loans.
 
Rather than work with Democrats to build on the economic progress made under the Obama Administration, President Trump has failed to put forward a single jobs bill. He hasn’t taken action to support job creation, and in fact, his budget would slash investments in infrastructure, education, research, and other areas that support job creation. Forecasters have lowered growth estimates; despite promises to the contrary, companies like Ford and Carrier are shipping jobs overseas; and 2017 saw the first four consecutive months since 2012 of the economy adding fewer than 200,000 new private sector jobs.
 
In contrast, Democrats have a strong record of job creation and are committed to raising wages. In July, House Democrats passed the Raise the Wage Act, legislation that will gradually increase the federal minimum wage to $15 an hour, providing up to 33 million workers a pay raise and lifting 1.3 million of American out of poverty, including 600,000 children. In March, House Democrats passed the Paycheck Fairness Act to close the gender wage gap and ensure equal pay for equal work. In addition, we passed funding measures that will help rebuild our infrastructure, creating good jobs that pay well. While the President walked away from negotiations on a robust infrastructure package, House Democrats are committed to investing in new roads, bridges, mass transit, ports, airports, schools, water systems, energy grids, and broadband.
 
When Democrats last held the majority and our nation was faced with the deepest recession in generations, we passed the American Recovery and Reinvestment Act, which cut taxes for 95% of American families and led the way to creating two million new private sector jobs during the Obama presidency.  Democrats also enacted Wall Street reform legislation that restored common sense rules to protect families and our economy from the excesses of big banks and help prevent a financial collapse from happening again.  This law, the Wall Street Reform and Consumer Protection Act, aims to protect middle class Americans by increasing consumer protections and preventing taxpayers from having to bailout financial institutions. While Republicans are working to undermine the Consumer Financial Protection Bureau, which works to protect consumers following the financial crisis, Democrats passed the Consumers First Act to restore the role of the CFPB and ensure consumer protections.
 
Democrats believe that small businesses are the backbone of our economy, working to grow and create jobs.  Democrats have pushed for legislation to prevent multinational corporations from outsourcing jobs overseas, while giving tax credits to businesses who hire new employees here in the United States, as well as restore the flow of credit to small businesses so they can grow and create jobs, and extend the research and development tax credit that encourages innovation and job creation.
Jobs and Economy Related
While I am relieved the unemployment rate fell slightly in July, there is little to celebrate.  At 10.2%, it is still above the worst month of the Great Recession, and the pace of job gains slowed again last month.
8/7/20
After hitting “pause” on coronavirus relief, President Trump and Congressional Republicans are about to let enhanced unemployment assistance expire for over 30 million Americans – one in five workers – who are unemployed through no fault of their own.
7/31/20
I am pleased that the House was able to come together in a bipartisan vote to reauthorize the Water Resources Development Act (WRDA) in a way that invests in upgrading and protecting America’s vital waterways and water infrastructure.  I’ve been proud to lead the Make It In America agenda for jobs and opportunities, and strengthening infrastructure, as this bill does, is a key component of that plan.  American businesses and workers depend on safe and efficient ports, harbors, and navigable rivers to transport goods to market and access raw materials.  Communities also depend on water infrastructure to protect against flooding and ensure that the water they use for drinking and agriculture is clean and safe. 
 
7/30/20
“The second quarter GDP report released this morning by the Bureau of Economic Analysis ought to alarm every American.  GDP contracted at an unprecedented 33% annual rate, revealing the historic scale of the economic fallout from this crisis.  There should now be no question that Congress and the President must come together and pass a relief package large enough to meet this moment.  
 
7/30/20
Today’s updated Economic Outlook by the nonpartisan Congressional Budget Office (CBO) should serve as a call to action.  CBO unambiguously projects a challenge of unprecedented scale and scope.  Even after the extraordinary economic response in the CARES Act, unemployment will remain much higher and economic activity much lower for far longer than should be acceptable to any of us.   
7/2/20
While the jobs numbers released today demonstrate an improvement from the period after this pandemic first forced the closure of large parts of our economy, the sharp rise in COVID-19 cases and the subsequent decision in many states to pause or reverse re-opening plans threatens to halt the economic progress we had been making and further delay the recovery for millions of Americans who remain out of work.  Having recovered one-third of jobs lost to this crisis is good news; but the reality that two-thirds of Americans who lost their jobs are still out of work is a sobering reality.  As the extraordinary response of the CARES Act winds down, we are still a long way from a full recovery.
 
7/2/20
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today on the May jobs report: 

6/5/20
Earlier this month, the House passed the Heroes Act to fix issues that had arisen with regard to the initial drafting of the CARES Act, including provisions that created the Paycheck Protection Program.  
5/28/20
April’s jobs report reveals the overwhelming extent to which measures necessary to combat the COVID-19 pandemic have affected the economic well being of millions of Americans.
5/8/20
With another 3.8 million Americans filing for unemployment insurance last week, bringing the six week total to nearly one in five working Americans, it is clear that Congress must do more to help those harmed by the economic impacts of our fight against the coronavirus pandemic.
4/30/20
The steep contraction in our economy in the first quarter of 2020 is alarming but not unexpected. We know this is only the leading edge of the downturn, and economic growth, unemployment, and poverty in the second quarter will be much worse.
4/29/20
The House has taken action today, but our work is far from complete.  There is broad understanding that the scope of this crisis is far wider than the scope of the relief offered in today’s interim bill and that therefore the House will need to take further action soon. 
4/23/20
Today’s report that an additional 6.6 million Americans filed for unemployment insurance last week reflects the depth of this crisis and its impact on the economic well-being of working families across the country.
4/9/20
This morning's jobs report reflects the loss of jobs as the economy shuts down while we work to stop the spread of coronavirus.  Unfortunately, this report doesn't even show the full extent of the economic pain millions of Americans are experiencing. The unemployment rate, which went from 3.5% to 4.4%, was the largest monthly rate increase since 1975 - and it only reflects data through the middle of March, before many stay-at-home orders began. 
 
4/3/20
Each year, on Equal Pay Day, we count the number of extra weeks from the start of the new year that women have to work, on average, to earn the same pay as men in the previous year for the same work.  This pay gap is even more pronounced for women of color. 
3/31/20
Tonight, the President finally did what he should have done weeks ago: take this crisis seriously and address the nation about his Administration's strategy to deal with coronavirus. While he still failed to confront the hard truths of this challenge or answer important questions - including why officials still do not have enough testing kits and how he is going to address that shortage - President Trump at last shared steps he intends to take in the days and weeks ahead. 
3/11/20
Economy Weekly: Week of March 2, 2020
3/6/20
While the February jobs report continues to show a record streak of job gains going back more than nine years, we also are learning in real time from both our financial markets and from Main Street businesses that we must be prepared for disruptions in global supply chains and lower consumer demand that could impact our economy and working families as a result of the coronavirus. This jobs report also shows a slowdown in wage growth that cannot be ignored. 
3/6/20
Economy Weekly: Week of February 10, 2020
2/14/20
The reviews of the President’s budget are in, and they are not kind. They point out the unrealistic economic growth assumptions, the massive deficits and debt, and his broken promise to protect programs like Medicare. Check it out:

From Politico:

“President Donald Trump sent another fantasy budget to Congress on Monday, thumbing his nose at the very spending levels he signed into law last summer.”

2/11/20
President Trump’s budget released yesterday clearly outlines his priorities: the wealthiest Americans come first, while working families are left behind. After he promised to protect Medicare, Medicaid, and access to affordable health care, the President’s budget proposes destructive cuts to these programs and continues this Administration’s assault on American’s health care. With the budget revealing even more of the President’s hypocrisy, we know you are dying to see how far the GOP will go to defend him. Don’t worry, we’ve got some questions already prepared for you:
    2/11/20
    Yesterday, the President released his budget proposal for Fiscal Year 2021 and made his priorities clear: he continues to put the wealthiest Americans first at the expense of working families. The budget proposal makes tax cuts for the wealthy permanent while breaking his promises to working families on health care, the economy, and other areas that help Americans get ahead and keep them safe.
     
    2/11/20
    The budget released by the Trump administration Monday relies on a set of false assumptions about our economy, reflecting the distorted vision laid out in last week’s State of the Union address. In that speech, President Trump lied again and again about his record on the economy. It is critical that Americans know the facts.
    2/11/20
    President Trump’s FY2021 budget is replete with dangerous proposals that leave working families to fend for themselves in a changing and uncertain economy.  This budget makes the President’s priorities clear: the wealthiest Americans come first ahead of working Americans who are trying to get by and get ahead.
    2/10/20