June 28, 2023

New Dems Praise President Biden’s Plan to Grow Economy and the Middle Class

Following the release of the Coalition’s Action Plan to Fight Inflation, New Dems worked hand-in-hand with the Biden Administration to pass legislation to lower costs for Americans, fix supply chains, and make every day essentials more affordable

Today, New Democrat Coalition Chair Annie Kuster (NH-02) and Vice Chair for Communications Brad Schneider (IL-10) released a statement praising President Biden’s economic record ahead of the President’s major speech on the economy in Chicago: 

“Following the COVID-19 crisis, President Biden’s economic plan is powering the strongest recovery of any major economy in the world. Under the leadership of President Biden and New Dems in Congress, the U.S. economy continues to shatter expectations and deliver for all Americans–– especially for those previously left behind.

“New Dems have worked closely with the Biden Administration to execute our Action Plan to Fight Inflation to lower prescription drug and energy costs, fix our supply chains, and support the construction of new affordable housing units. We are pleased the annual inflation rate has fallen for 11 consecutive months to its lowest level since March 2021.

“While there is still more work to do to continue to grow our economy from the middle out and lower prices for hardworking families, the signs of progress are all around us. Since President Biden took office, our economy has added a record-breaking 13 million jobs –– including nearly 800,000 manufacturing jobs. The unemployment rates for African Americans, Latinos, and Americans with disabilities have all reached record lows. Americans today have higher net worths and higher real disposable incomes while fewer are filing for bankruptcy or falling behind on their mortgages than at the start of the pandemic. 

“New Dems look forward to building on this progress and our continued partnership with the Biden Administration to build an economy that grows the middle class, lowers costs, and gives every American the opportunity to thrive.”



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