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Reports & Issue Briefs

May 03 2017

The Retirement Crisis

Joint Economic Committee Democrats released a fact sheet today on the state of retirement in the United States as Republicans attempt to pass Congressional Review Act legislation making it harder for Americans to save for retirement. Far too many workers do not have access to a retirement savings plan through their employer and many earn too little to save. The fact sheet details that more than 30 percent of workers do not have access to retirement benefits through their employer, and nearly 70 percent of the lowest-paid workers do not have access to a retirement plan.
Joint Economic Committee Democrats released a fact sheet today on the state of retirement in the United States as Republicans attempt to pass Congressional Review Act legislation making it harder for Americans to save for retirement. Far too many workers do not have access to a retirement savings plan through their employer and many earn too little to save.
April 29 marks the 100th day of the Trump presidency, an important benchmark for assessing the President’s productivity and ability to enact pieces of his campaign agenda. Rural Americans voted for President Trump believing in the promise that he will invest in and put their communities first. In his first 100 days President Trump has already broken the promise to help rural America. From his budget that cuts services rural communities rely on to TrumpCare, which disproportionately harms rural areas, President Trump has already broken faith with rural voters who have trusted him to improve their livelihoods and secure a more stable future.
April 29 marks the 100th day of the Trump presidency, an important benchmark for assessing president’s productivity and ability to enact pieces of their campaign agenda. On the campaign trail, candidate Trump promised to “Make America Great Again” and to stand up for working Americans. In his first 100 days, President Trump has already broken that promise, and instead is making things worse for working Americans. The administration has pursued a number of executive actions that are slowing down the growth potential of our economy and hurting American workers and families.
Government funding runs out on April 28th. Without an agreement to fund the government by then, the federal government will shut down, disrupting economic growth, increasing uncertainty for businesses and people who rely on public services or are awaiting a tax refund, and potentially triggering job losses across the economy–just as the nation experienced during the October 2013 shutdown.
These state economic snapshots survey the economic situation on the ground in all 50 states and the District of Columbia. Although the U.S. economy overall continues its expansion from the Great Recession and associated financial crisis, the recovery can look very different from state to state, and even county to county. While some areas of the country have surged ahead, other regions are still struggling to regain their economic footing.
This report focuses on POE staffing. While estimates vary on the exact cost of border delays to the U.S. economy, research indicates a clear link between additional POE staff, reduced wait times, and economic benefits. Staffing an additional one to three booths or lanes can reduce maximum wait times by up to 25 minutes at some of the busiest POEs. U.S. Customs and Border Protection (CBP) estimates an additional 1,000 POE officers would increase economic activity by $2 billion and add 33,148 new U.S. jobs per year.
For nearly six years, the Consumer Financial Protection Bureau (CFPB) has held financial companies accountable and protected consumers from unfair, deceptive, and fraudulent practices, returning billions of dollars to millions of consumers, including students and service members.
Equal Pay Day marks how far into the new year a woman would have to work to earn what a man earned the previous year. The 20 percent gap in earnings between women and men is due to complex factors, including differences in years of work experience, variation in occupation and industry, and discrimination.
This monthly report provides a snapshot of the status of the economic recovery in each of the 50 states and the District of Columbia. This month’s snapshots include state-level data on jobs, unemployment and earnings through December 2016.