Closing the Medicaid coverage gap would provide health coverage for over 2.2 million low-income Americans who are currently ineligible for any federal health insurance supports. These families live in the 11 states where Republican state officials have refused to accept generous federal funding to expand their state Medicaid programs to cover the larger low-income population offered coverage under the Affordable Care Act (ACA).
Jan 14 2022
Economic Update - January 14, 2022
Jan 14 2022
Abortion Access Is Key to Economic Freedom
Access to safe and legal abortion is an economic issue, not only an issue of bodily autonomy and individual agency. Access to abortion enables people to make the decisions that are right for them and their financial security. Furthermore, the ability to control if and when to have a child has lifelong economic consequences not only for the people directly impacted, but also their families and communities.
Jan 11 2022
How the Build Back Better Act Would Reduce Inflationary Pressure and Cut Costs for Families
Underinvestment in America’s public infrastructure helped create the conditions for the inflation—or higher prices for the same goods, economywide—that the U.S. is currently experiencing. The economic recovery, fading emergency pandemic relief and the Federal Reserve’s actions will reduce inflation in 2022, but the Build Back Better Act presents the best opportunity for Congress to reduce inflationary pressure long term, cut costs for families and boost economic resilience.
Early childhood education provides a number of economic benefits for both participants and their families, as well as the economy as a whole. Investing in universal preschool for 3- and 4-year-olds in the United States would generate economic benefits in both the near- and the long-term.
Jan 07 2022
Economic Update - January 07, 2022
Dec 17 2021
Economic Update - December 17, 2021
Dec 17 2021
Estimates of Advance Child Tax Credit Distribution by Congressional District (December 2021)
Using state-level data from the Treasury Department on advance Child Tax Credit (CTC) payments, the Joint Economic Committee estimated the number of qualifying children, total number of payments and total payment amount by congressional district in December 2021, when the sixth round of CTC payments was distributed, as well as the cumulative payment amount by congressional district from July through December 2021. To mark six months of advance CTC payments, the JEC released a review of the evidence showing the economic benefits for 61 million children, 36 million families and the overall economy.
Each month, the Bureau of Labor Statistics (BLS) releases national and state-level data on U.S. employment, which provide useful information about the state of the labor market and progress toward building back better.
The expansion of the CTC, included in President Biden’s American Rescue Plan, is one of the largest-ever single-year tax cuts for families with children. It dramatically increased the value of the CTC from $2,000 per child to up to $3,600 per child under age 6 and $3,000 per child between age 6 and 17, putting money in the pockets of low- and middle-income families to pay for household expenses like food, rent, utilities and child care.
