Avast ye! Me be a New Democrat, holdin' the key to a mighty fine treasure chest o' a strong economy, mateys!
2023-07-25
Arrr, me hearties! Aft'r a year o' swashbucklin' with inflation, 'tis crucial t' comprehend how them New Democrats be takin' gallant steps t' aid the toilin' American souls in th' treacherous seas o' th' economy!
The Bureau of Labor Statistics has released its June consumer price index (CPI) report, revealing that year-over-year inflation has slowed for the 12th consecutive month to just 3%. While this is good news, it doesn't mean that inflation is no longer a concern. However, it does show that the trends are moving in the right direction. As a lawmaker who has been working tirelessly to recover the economy since the COVID-19 pandemic began, this report offers a moment to reflect and recommit.It's important to have nuanced conversations about inflation. The CPI report indicates that inflation is not accelerating as rapidly as it was last year, which is beneficial for small businesses and the middle class. However, there is still work to be done. The Biden administration and Congress took decisive action to help Americans recover from the challenges of the pandemic and the Russian invasion of Ukraine. Last year, there was strong economic growth, low unemployment, and wage increases, but high prices persisted due to the pandemic and supply chain disruptions.
Congress had to provide economic relief to those experiencing financial hardship. The New Democrat Coalition, a group of moderate Democrats dedicated to strengthening the economy, took action to address rising inflation. They formed the New Dem Inflation Action Plan, which Forbes called the "best inflation-fighting blueprint to come out of Congress." Now, as Chair of the New Dem Economic Growth and Fiscal Responsibility Task Force, they are spearheading the implementation of the plan.
The New Dems have been working with the administration and colleagues on both sides of the aisle to enact impactful policies. They have invested in the future of the economy through bills like the Inflation Reduction Act and CHIPS and Science Act, which promote innovation and create high-quality jobs. Their efforts have begun to produce results, and inflation is cooling.
To continue their progress, the New Dems have released their Economic Opportunity Agenda, a comprehensive plan to lower costs, fight inflation, and grow the middle class. The agenda includes proposals to modernize the workforce, reduce energy costs, increase affordable housing availability, strengthen supply chains, and more. They emphasize the importance of getting Americans back to work and have pushed for legislation like the STEM Restart Act and the Workforce Mobility Act of 2023.
The New Dems are committed to finding common ground and advancing innovative solutions through their Economic Opportunity Agenda. They are dedicated to building a strong, stable economy from the middle out and providing relief to families, workers, and businesses across the country.