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 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
    Economy Weekly: Week of February 3, 2020
     
    2/7/20
    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.
    2/6/20
    Madam Speaker, I rise in strong support of this legislation, which will protect workers’ right to organize and bargain collectively.
    2/6/20
    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.
      2/5/20
      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...
      2/4/20
      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:
      2/4/20
      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. 
      1/30/20
      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.
      1/29/20
      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.
      1/28/20
      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. 
      1/28/20
      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.
      1/28/20
      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.
      1/23/20
      Economy Weekly: Week of January 6, 2019
       
      1/10/20
      Trump must not remember the last one because – get this – he is threatening ANOTHER government shutdown. Politico Playbook PM reports:

      12/3/19
      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.
      11/15/19
      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.
      11/1/19
      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.
      11/1/19