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
Economy Weekly: Week of February 3, 2020
House Majority Leader Steny H. Hoyer (MD) released a video today pushing back on the falsehoods in President Trump’s State of the Union address, in which he took credit for the strong economy he inherited and misled the American people about his record and policies, which are failing working families.
Madam Speaker, I rise in strong support of this legislation, which will protect workers’ right to organize and bargain collectively.
Axios provided a reality check for President Trump this morning: you can’t protect Americans with pre-existing conditions if you sabotage them in court:

President Trump claimed during the State of the Union that he will "always protect patients with pre-existing conditions" — a statement that's misleading at best, writes Axios' Caitlin Owens.
    This evening, President Trump had an opportunity to show the American people and the Congress that he takes seriously the challenges we face as a nation and his responsibility as president to rally the country together to meet them.  Instead, he doubled-down on the rank partisanship and divisiveness that have characterized his presidency, using his address to attack those who disagree with him and to take credit for the successes of the prior Administration while misleading on his own record...
    The President campaigned on numerous promises to the American people, and four years into his presidency, he is letting the American people down on pledge after pledge. Ahead of tonight’s State of the Union Address, here’s a look at what the President promised he would deliver to the American people and how he has fallen short with policies that put the wealthiest ahead of working families:
    This morning, the Bureau of Economic Analysis provided further evidence that supports what we already know: the Trump economy is one broken promise after another. After promising 6% GDP growth would result from his tax cuts for the wealthy, growth has actually slowed to 2.3% from 2.8% a year earlier.  Rather than causing a flood of business investment that would trickle down to workers, today’s report shows that, in the wake of his tax cuts, business investment has declined for 3 consecutive quarters. 
    I want to thank the Speaker, and I want to thank all of the Committee Chairs who are here. I want to thank our new Members, who have brought a new energy and new focus because they just went through very tough campaigns, and they talked about what the people want and they talked for the people.
    Madam Speaker, I come to the Floor this afternoon with a number of my Democratic colleagues to speak about the subject of paramount concern for most Americans: the economy.
    As a result of the 2017 Republican tax scam, in which Republicans gave massive tax cuts to the wealthiest at the expense of everyone else, the nonpartisan Congressional Budget Office (CBO) now expects permanent trillion-dollar deficits.  While President Trump and his allies promised that the tax cuts would yield 6% GDP growth and pay for themselves, the reality is today is slower economic growth and trillions in new debt left to our children and grandchildren. 
    WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD), Joint Economic Committee Vice Chair Don Beyer (VA-08), Budget Committee Chairman John Yarmuth (KY-03), and Ways & Means Committee Chairman Richard E. Neal (MA-01) will lead a special order hour on Tuesday, January 28, to discuss the economy.
    Tax cuts have never paid for themselves, but that’s not stopping the Trump Administration from repeating that falsehood over and over again. Today’s editorial from the New York Times calls out the Administration for repeatedly claiming that the GOP tax scam would not add to the deficit, even after they caused the deficit to exploded.
    Economy Weekly: Week of January 6, 2019
    Trump must not remember the last one because – get this – he is threatening ANOTHER government shutdown. Politico Playbook PM reports:

    The Majority Leader’s Office is now sending a weekly e-mail highlighting economic statistics and news that Members can use as they discuss the state of the economy and how House Democrats are working to spur economic growth, support job creation, and raise wages for the people.
    U.S. economic growth slowed again in the third quarter, down to an annualized pace of just 1.9 percent… 1.9 percent is a far cry from the ‘4 percent, 5 percent and even 6 percent’ growth rates that Trump once promised to deliver.
    This morning’s jobs report for October again shows an economy struggling to overcome the effects of President Trump’s trade wars and Republican policies of disinvestment in opportunity for working people in our country.
    A warning from the father of the inverted yield curve, Campbell Harvey: “…The curve first inverted briefly in March then turned lower again in May where it has stayed since…Harvey said the curve needs to stay inverted for three months to be reliable, so in this instance the duration means the indicator is ‘flashing code red’ for a recession. ‘It’s not normal. It’s something that foreshadows bad times.”
    The Majority Leader’s Office is now sending a weekly e-mail highlighting economic statistics and news that Members can use as they discuss the state of the economy and how House Democrats are working to spur economic growth, support job creation, and raise wages for the people.
    Action on climate change!
    I join in celebrating the twenty-fifth anniversary of AmeriCorps, a remarkably successful program that promotes volunteerism to help build stronger communities. 
    The July jobs report tells the story of American economic resilience in the face of serious challenges and a failure by the current Administration to build on the policies that brought about our recovery from the Great Recession.
    Sunday marked 200 days of a Democratic Majority in the House of Representatives, and in that time, Democrats have made significant progress on behalf of the American people. Democrats have spent the past 200 days advancing our For the People agenda: taking action to lower health care costs and the price of prescription drugs, raise wages, and clean up corruption. Take a look at how Democrats have made progress For the People: 
    Today, the House will vote on the Raise the Wage Act, which will increase the federal minimum wage for the first time since 2009.