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Biden’s rescue plan is driving our recovery

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This piece was originally published in the January 21, 2022 edition of CAP Action’s newsletter, the Progress Report. Subscribe to the Progress Report here.

“Under Biden’s leadership, our economy set the record for the most jobs added in a single year. Over 200 million people are now vaccinated against COVID-19. The American Rescue Plan provided relief to families. More people can now afford health care.”” – Former President Barack Obama

President Biden came into office promising to rebuild our economy from the depths of the pandemic. One year in, it is clear that he is making good on that promise—and the Biden Boom keeps delivering.

Our economy is projected to have grown by 5.5% in the last year, the highest rate of real GDP growth recorded in nearly 40 years. After a period of historic unemployment under the last year of Trump’s presidency, the American Rescue Plan has helped add 6.2 MILLION jobs—outpacing economic projections by more than one million jobs. Low wage workers in particular have benefited from stronger wage growth than we’ve seen in years. The Biden recovery is about building an economy that works for EVERYONE.

Share this graphic to highlight this historic recovery:

IN THE NEWS

  • The CDC announced that the efficacy of booster shots in Americans over the age of 50 is very strong. For Americans between the ages of 50 and 64, unvaccinated people are 44 times more likely to be hospitalized than vaccinated people. For those over 65, the risk is 49 times higher.
  • The Biden Administration has raised the minimum wage for federal employees to $15 an hour. The change will benefit nearly 70,000 federal employees, primarily at the Departments of Agriculture and Veterans Affairs.

WHAT WE’RE READING

This piece was originally published in the January 21, 2022 edition of CAP Action’s newsletter, the Progress Report. Subscribe to the Progress Report here.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.

Authors

Brad Chester

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“The Progress Report” is CAP Action’s regular news email, providing policy-minded analysis of the day’s stories—and offering subscribers ways to get involved.

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