From the White House
On Tuesday, November 1st the White House hosted a Women's Economic Impact Briefing. Below you will find action items, talking points, fact sheets, and other resources to help amplify the impact of the programs highlighted in your community.
Economic Progress by the Numbers
- The unemployment rate now matches its lowest level in 50 years at 3.5%, down from 6.4% when Biden took office. The economy has created 10 million jobs since the President took office, including almost 700,000 manufacturing jobs. 17 states are below 3% unemployment.
- America has now more than recovered all of the jobs lost during the pandemic and more, as a result of actions from the President and Congress like the American Rescue Plan and the unprecedented vaccination effort.
- When the President took office, over 18 million Americans were receiving unemployment benefits, today that’s down by more than 90%, the lowest number in decades.
- We’re seeing the best economy for American workers in decades, with people getting higher wages, better benefits, and better jobs across the board.
- We are also seeing progress in the fight against global inflation. Inflation has been basically flat over the past three months, and real wages have gone up.
- We have more work to do. But the good news is gas prices have declined by an average of $1.20 per gallon over the past few months, now at a national average of $3.82 per gallon, with the most common price at gas stations being $3.39.
- The American people are getting some relief from high prices, and the Inflation Reduction Act that the President signed will also help bring prices down from prescription drugs to energy costs.
Additional Economic Impact
- The American Rescue Plan (ARP) ensured schools could reopen safely and helped over 200,000 child care providers serving as many as 9.5 million children to keep their doors open through a historic stabilization program.
- The Administration also expanded the 2021 Child Tax Credit, which contributed to the largest one-year drop in U.S. child poverty on record, including historic cuts in poverty rates for Black, Hispanic, and AAPI children.
- This expanded CTC reached an estimated 40 million families with 65 million children—roughly 90 percent of all children in the U.S.
- Thanks to that Rescue Plan, families saved an average of $2,400 last year in health insurance premiums. And the Inflation Reduction Act ensures those savings will continue through 2025.
- In August, President Biden announced student debt relief of up to $20,000 to borrowers who were Pell Grant recipients in college and up to $10,000 to all other borrowers. If you’re a federal student loan borrower who earned less than $125,000 as an individual or $250,000 as a household in 2020 or 2021, you’re eligible for this relief. And it’s a really big deal for women, who hold two-thirds of all student debt in the U.S.
- More than 40 million Americans could benefit from debt relief, and about 20 million could see their student debt completely eliminated;
- And nearly 90% of this relief will go to those making less than $75,000 per year.
- American Rescue Plan
- American Rescue Plan Funds Provided a Critical Lifeline to 200,000 Child Care Providers
- BY THE NUMBERS: The Inflation Reduction Act
- FACT SHEET: The Inflation Reduction Act Supports Workers and Families
- FACT SHEET: CHIPS and Science Act Will Lower Costs, Create Jobs, Strengthen Supply Chains, and Counter China
- Bipartisan Infrastructure Law State Fact Sheets
- Bipartisan Infrastructure Law Maps of Progress
- Child Tax Credit
- Student Debt Relief
- Healthcare Enrollment
- Affordable Connectivity Program
- Public Service Loan Forgiveness
- CHIPS.Gov | NIST
- Home | Internet for All
- $1B Build Back Better Regional Challenge | U.S. Economic Development Administration (eda.gov)
American Rescue Plan Funds Provided a Critical Lifeline to 200,000 Child Care Providers – Helping Millions of Families to Work
On October 21st, the White House announced that the American Rescue Plan – through its historic $24 billion Child Care Stabilization Program – has already provided vital aid to help more than 200,000 child care providers keep their doors open to as many as 9.5 million children, helping their parents work. Stabilization funds have already assisted providers employing more than 1 million child care workers.
The U.S. Department of Health and Human Services also released a state-by-state analysis of the American Rescue Plan’s (ARP) Child Care Stabilization program that details for the first time the number of child care providers that have already been helped in each state.
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