The Rebuild Better Act will support 2.3 million jobs each year for the first five years

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

BBBA policy Work
Universal preschool 332,000
nursery 574,000
Clean energy tax incentives 76,000
Electric car rebates 20,000
Agriculture/Forestry 32,000
Clean Energy Accelerator/Green Bank/Infrastructure Bank 4,000
CCC 3,000
Federal Procurement of Clean Technology 9,000
weathering 4,000
Local clean energy economic development and environment 4,000
Education (College) 39,000
Long-term care 238,000
ACA premium 114,000
Dentistry, vision, hearing 27,000
Public housing, protection, supply and affordability 90,000
Immigration LPR 74,000
Community college infrastructure 3,000
Critical Supply Chain Resilience Fund 13,000
made in America 1,000
NIST laboratory 1,000
Promote partnership 2,000
Regional Innovation Center 3,000
Community Revitalization Fund 6,000
Automotive supply chain 7,000
Manufacturing financing 5,000
SBA + Minority Business Development 18,000
Rural Cooperation Fund 3,000
Pandemic preparation-HHS, DOE, DOD 12,000
Research and development 64,000
labor force 10,000
Child nutrition 54,000
Paid vacation 144,000
CTC/EITC 301,000
All 2,290,000

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.


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