The Rebuild Better Act will support 2.3 million jobs each year for the first five years
Although the “Better Rebuild Bill” is still unfinished, it has now been passed in the House of Representatives and is expected to be voted on in mid-November. The political debate to reach this moment is tortuous. However, by making meaningful investments in childcare, long-term care, and universal pre-kindergarten, the promise of the forthcoming bill may change the lives of millions of people. This is essential to a prosperous modern economy, which will increase productivity and increase productivity. Provide relief to people. The family budget is tight.
Here we update one Previous analysis Reflect the latest state of the legislation and evaluate its potential impact on the US labor market.In total, we estimate that the Build Better Act (BBBA) will support 2.3 million jobs Per year In its first five years, the details are shown in Table 1, the following.Add to this estimate 772,000 jobs per year Supported by a bipartisan infrastructure agreement, also known as the Infrastructure Investment and Employment Act, Last friday passed In the House of Representatives, you will receive support from more than 3 million jobs every year.
At least as long as the U.S. economy is still running 5.5 million jobs missing Relative to the pre-pandemic trajectory, continued support for job creation is the main benefit of the plan, but the economic impact will be more far-reaching. For example, approximately half of the jobs supported by BBBA come from new and expanded universal preschool (332,000 jobs per year), childcare (574,000), and long-term care (238,000) care programs.Good jobs in these industries-where the workers are Severely undervalued and underpaid——This is just the tip of the iceberg, which will also help more parents return to work and relieve stress Excessive financial burden of parenting And long-term care puts pressure on working families.
As 17 Nobel Prize Winners in Economics Recently emphasized that BBBA is a Supplier An economic plan that enables more people of working age to participate effectively in the U.S. economy and invest in the long-term achievements of the younger generation. These policies provide a force to offset current inflationary pressures, Provide insurance for economic recovery faltering With too little policy support-this was a costly mistake made during the Great Recession of 2007-2009.
With the plan pay in full, It should be a breeze to transform the U.S. economy into a fairer, more efficient, sustainable, and prosperous economy. However, there is more work to be done to meet all the urgent social and economic challenges in the United States. More room for fiscal policy These goals can be pursued by Congress.
Work supported by the “Rebuild Better Act” averages more than 5 years per year
|Clean energy tax incentives||76,000|
|Electric car rebates||20,000|
|Clean Energy Accelerator/Green Bank/Infrastructure Bank||4,000|
|Federal Procurement of Clean Technology||9,000|
|Local clean energy economic development and environment||4,000|
|Dentistry, vision, hearing||27,000|
|Public housing, protection, supply and affordability||90,000|
|Community college infrastructure||3,000|
|Critical Supply Chain Resilience Fund||13,000|
|made in America||1,000|
|Regional Innovation Center||3,000|
|Community Revitalization Fund||6,000|
|Automotive supply chain||7,000|
|SBA + Minority Business Development||18,000|
|Rural Cooperation Fund||3,000|
|Pandemic preparation-HHS, DOE, DOD||12,000|
|Research and development||64,000|
notes: Estimates are rounded to the nearest 1,000 jobs. Research and development include the Infrastructure Development Program, the National Science Foundation Technology Council, climate research, the Department of Energy’s demonstration funding, the ARPA climate program, historic black colleges and universities, and STEM centers of excellence and education programs. Pandemic preparations include funds designated for the Ministry of Health and Human Services, the Ministry of Energy, and the Ministry of Defense. CTC/EITC stands for Child Tax Credit/Labor Income Tax Credit.
source: EPI analysis of White House and Joint Tax Commission data.