Wages and salaries have risen significantly throughout the United States since January 2021. Updated calculations by the JEC Democrats find that average U.S. wages and salaries grew by over $17,600 between January 2021 and July 2024, outpacing price growth during that period by nearly $4,500.
Recent global economic disruptions have underscored the need for resilient supply chains in the United States. “Nearshoring”—or bringing more production back to the U.S. or to its immediate neighbors Canada and Mexico—is one solution for addressing supply-chain vulnerabilities as proximity and integrated markets make these kinds of disruptions less likely. The United States’ North American neighbors have a large role to play in improving supply-chain reliability, increasing trade and economic output, and advancing climate objectives.
Project 2025 is a radical plan that details how a Republican administration would undercut working families by making health care and higher education less affordable; providing less support to families; and rolling back climate enforcement and research. This Republican plan would concentrate power within the executive branch, make life harder for working people, and cede power to Big Pharma and other corporations.
Aug 08 2024
The Economic Benefits of Child Nutrition
Making sure that children have enough nutritious food to eat both improves their overall well-being and represents a vital investment in the broader economy. Good nutrition is a core part of child development, meaning that it both improves kids’ health and well-being during childhood while also supporting future academic and employment outcomes. Despite the immense importance of childhood nutrition, food insecurity is still far too high in the United States today. In light of this crisis, Democrats in Congress and the Biden-Harris administration are working to expand or make permanent important programs to support childhood and student nutrition.
Aug 07 2024
Republicans Want to Extend Tax Cuts That Benefit the Wealthy and Make Everyone Else Pay For It
All recent Republican budget plans create significant tax breaks for the ultrawealthy with offsets that harm everyone else. Extending the 2017 Republican tax cuts is expected to cost trillions of dollars over the next decade, adding $4.6 trillion to the deficit. In particular, provisions that overwhelmingly benefit the wealthy like the deduction for “pass-through businesses” and the higher estate and gift tax exemptions would respectively add $684 billion and $167 billion to the deficit over 10 years.
Project 2025 is a radical plan that details how a Republican administration would undercut the U.S. economy by hiking taxes on middle-class families, dismantling worker protections, and reversing federal investments that are keeping the U.S. economy strong. This Republican plan would concentrate power, make life harder for working people, and give handouts to wealthy corporations.
Ya sea por el desbordamiento de un río, la crecida de las aguas costeras o inundaciones repentinas; las inundaciones causan daños importantes a los hogares, la infraestructura y los negocios estadounidenses en todo país. El año pasado, inundaciones devastadoras afectaron a Vermont, California y Kentucky ya que el cambio climático aumenta el riesgo de estos desastres tanto en las comunidades costeras como en las del interior. Esta secuencia de años de inundaciones letales, junto con las mayores amenazas de inundaciones en el futuro, pone de relieve los altos costos de las inundaciones y de la inacción frente el cambio climático.
Jul 29 2024
Economic Update - July 29, 2024
Jul 26 2024
Fusion Energy Could Supercharge the Economy
Energy powers the economy. Harnessing fusion—the same process the sun uses to create energy—could transform the U.S. economy by providing a reliable, low-risk, low-waste power source that is flexible enough to meet essentially all our electricity needs.
