Since taking office, and with the help of Congressional Republicans, President Trump has been on a mission to sabotage the Affordable Care Act (ACA) marketplaces. Most notably, the administration ended cost sharing reduction (CSR) payments, which helped reduce customer premiums. The results of this sabotage are in: Americans in every state are paying more for health care as a direct cause of these actions. On average, premiums before tax credits on ACA marketplaces are $960 more this year because of these actions – more than wiping out the average tax savings that families earning under $75,000 received from the recent tax cuts.
Apr 16 2018
The Economic State of Millennials in America
This fact sheet provides a snapshot of the current economic state of millennials in the United States. It includes measures on the generation’s economic well-being, including key trends in homeownership, student debt, and entrepreneurship. Together, these measures help paint a portrait of millennials and their economic prospects for the future.
Republicans have misleadingly claimed that the new tax law is aimed at the middle class, by boosting wages through corporate tax cuts. They have highlighted a few companies that have announced bonuses or raises since the tax cuts were enacted as evidence that the new law is already helping American workers. But a look at the overall data shows that wage growth has not substantially changed since the passage of the law. In March, average hourly earnings for production and nonsupervisory workers (a good proxy for the median worker) were 2.4 percent higher than one year ago, a growth rate that has been hit repeatedly in recent years.
Apr 06 2018
President Trump Job Tracker March 2018
Most American workers have not been benefiting from the economic growth of the last several decades. Wages for the average worker have barely budged in almost four decades, meanwhile wages for the highest earners have grown substantially, according to new research from nonpartisan organizations.
Mar 26 2018
March Economic Snapshot of the States
Although the U.S. economy overall continues its expansion following the Great Recession and associated financial crisis, the recovery can look very different from state to state. The lion’s share of economic gains are not only concentrated at the top of the income and wealth distribution, but also in a small share of regions. While some parts of the country have surged ahead, millions of Americans in urban and rural communities are still waiting for their wages to start rising again and struggling to make ends meet.
Mar 23 2018
America Can’t Afford Gun Violence
Gun violence injuries, including self-inflicted gunshots, are among the five leading causes of death for individuals ages 1 to 64 in the United States. On average, 96 Americans are killed each day with guns. In fact, gun-related deaths outpace motor vehicle deaths in 21 states and the District of Columbia. Tragedy after tragedy, we are reminded of the devastating impact that gun violence has on American lives, and that the cost implications of gun violence go beyond the tragic loss of life. From health care costs to lost wages, gun violence has a negative impact on the U.S. economy.
Republicans touted their GOP tax scam as a boon for small businesses, but it ended up handing large corporations a 40 percent tax cut while leaving small businesses with a new set of compliance challenges.
Across the nation, access to high-speed internet continues to expand. But millions of homes still lack access, and these gaps vary widely regionally. In 22 states, at least 10 percent of residents have no high-speed options. In 6 states—Alaska, Arkansas, Mississippi, Montana, Oklahoma, and Wyoming—more than 1 in 5 residents lack access. Rural areas in particular lag behind, as 23 million rural residents still lack access to high-speed broadband. Access rates for all 50 states and the District of Columbia are available in the JEC’s latest state economic snapshots.
Mar 16 2018
February Economic Snapshot of the States
Although the U.S. economy overall continues its expansion following the Great Recession and associated financial crisis, the recovery can look very different from state to state. The lion’s share of economic gains are not only concentrated at the top of the income and wealth distribution, but also in a small share of regions. While some parts of the country have surged ahead, millions of Americans in urban and rural communities are still waiting for their wages to start rising again and struggling to make ends meet.
