Wages and salaries have risen significantly throughout the United States since January 2021. Updated calculations by the JEC Democrats find that average U.S. wages and salaries grew by over $17,600 between January 2021 and July 2024, outpacing price growth during that period by nearly $4,500. It is clear that costs have risen due to pandemic disruptions and global conflicts, but incomes have also grown and at a faster rate.

Additionally, the Biden-Harris administration and Congressional Democrats like JEC Chairman Martin Heinrich are continuing to fight to lower food costs, and data for recent months show that grocery prices are stabilizing. These efforts—alongside those to reduce the cost of prescription drugs, make housing more affordable, crack down on junk fees, and invest in supply chains to help goods move faster—are just some of the ways the Biden-Harris administration and Congressional Democrats are working to further cut costs for families.