Economy, Jobs & Taxes
Our country's strength and success is based on our robust middle class. These days, too many American families feel that the American Dream is slipping away – they are worried about finding good jobs, sending their kids to college, losing the equity in their homes, and even foreclosure. Rebuilding the American Dream so that every individual has access to opportunity and success is a challenge, but not an impossible one. The Great Recession and the current federal budget problems were no accident; they were the result of decades of policies that further enriched the wealthy at the expense of everyone else, as well as Bush Administration policies that put wars and tax cuts for the rich on a credit card and turned a blind eye to Wall Street's recklessness. By creating the perfect storm, these man-made mistakes led to a devastating financial collapse.
But we are not helpless in the face of these challenges. I am fighting for job creation, economic opportunity for all, help for those who are struggling, and fair and responsible ways to reduce the deficit.
In Congress, I am a leader on progressive solutions to our economic and fiscal challenges and I have offered specific proposals on deficit reduction, jobs, and tax policy. I served on the National Commission on Fiscal Responsibility and Reform (the Bowles-Simpson Commission), and offered an alternative to the co-Chair's proposal to show what a real balanced plan would look like - one that didn't further burden struggling middle class and low income families.
We also need to make sure that people are employed in good jobs that provide them with a living wage and benefits so that workers can take care of their families.
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Workers deserve a fair wage and workplace protections, period. We are the richest country in the world at the richest time in history, there is no reason all workers should not have a living wage.
As I am sure you are aware, former President Donald Trump has been indicted by a New York grand jury and will be arraigned on Tuesday. According to reports, Trump faces more than 30 counts related to business fraud for allegedly concealing hush money payments to Stormy Daniels in order to cover-up their extramarital affair from voters during the closing days of his presidential campaign.
Following the collapse of the Silicon Valley Bank, I know many of you are feeling uneasy. I want to assure you, there is a piece of legislation that I am cosponsoring, the Secure Viable Banking Act, that would help restore needed protections to safeguard our economy. The failure of Silicon Valley Bank can be traced back to harmful Trump-era regulatory rollbacks. I voted against those rollbacks in 2018 for exactly this reason. I will continue working to protect the safety and soundness of our financial system and help ensure those responsible for this crisis are held accountable.
As Republicans threaten cuts to Social Security and other essential federal programs, I have now introduced legislation that would expand Social Security benefits by $2,400 a year and ensure Social Security is fully funded for the next 75 years – all without raising taxes by one penny on over 93% of American households that make $250,000 or less. The Social Security Expansion Act will help ensure that everyone in America can retire with the security and dignity they deserve after a lifetime of hard work.
In just his first two years in office, President Biden has created over 12 million jobs, lowered prescription drug costs for seniors, invested in our climate, and so much more. At 3.4%, the unemployment rate is the lowest it has been in over 50 years. We are bringing strong, good-paying union jobs back to America. Last week’s State of the Union proved that our best days are yet to come.
Last Thursday, the United States of America reached its debt limit. U.S. Treasury Secretary Janet Yellen said that extraordinary measures need to be taken to avoid the United States defaulting on its debts. We must raise the debt ceiling. This is not new spending; it is paying the bill for programs we have already approved. Republicans would rather cut Medicare, Medicaid, and Social Security, plus help the rich cheat on their taxes, than follow through with our obligations. It is time my colleagues put the livelihood of Americans first.
EVANSTON – Today, Congresswoman Jan Schakowsky (IL-09), a Chief Deputy Whip, released the following statement commemorating Martin Luther King Jr. Day:
“Rev. Dr. Martin Luther King Jr.’s legacy will forever stand as a reminder of our capacity to make real, lasting change for the betterment of all. Today, Dr. King’s message is more important than ever: To create a just society where all individuals can succeed, we must come together as a nation to right our wrongs.
