Nov 02 2018
WASHINGTON, D.C. – U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, issued the following statement today after the Department of Labor announced 250,000 jobs were added in October:
“Our economy is continuing its eight year streak of adding jobs, but we still have a long way to go to make up for decades of wage stagnation for workers. Republicans will point to a nearly decade-long trend in job creation and give credit to their year-old tax law, while ignoring the real impact of this legislation—workers still waiting for their promised raises, a lack of the promised investment boom, and soaring deficits. As we have seen time and time again Republicans continue to advance their same failed ideas of the past: tax breaks for the wealthy while breaking promises for working Americans and seniors.
“It’s time we quit this partisan experimentation and tackle the real issues Americans care about, like addressing inadequate wage growth and the high costs of education and health care. We should be building on programs like Medicare, Medicaid, the Affordable Care Act, and Social Security, programs that nearly 40 percent of Americans depend on, not slashing them as my Republican colleagues have proposed.”
Joint Economic Committee Democrats recently released a report that shows the net cost of the past 20 years of Bush and Trump era tax cuts for the top one percent equals the proposed GOP cuts to Medicare, Medicaid, Social Security and the Affordable Care Act. Read the report here.
President Trump promised American families that they would see a $4,000 annual raise after the tax plan; so far, average weekly wages have increased $22.24 without accounting for inflation.