Mark Zandi & Bernard Yaros | November 4, 2021
Independent economic analysts from Moody’s Analytics projects the Infrastructure Investment and Jobs Act and Build Back Better Framework will "strengthen long-term economic growth, the benefits of which would mostly accrue to lower- and middle-income Americans."
Specifically, it will:
- Add 1.5 million jobs per year on average over the whole decade
- Increase labor force participation and accelerate the return to full employment
- Increase total GDP by $3 trillion throughout the next decade
The economists say the legislation is “designed to ease the financial burden of inflation for lower- and middle-income Americans by helping with the cost of childcare, eldercare, education, healthcare and housing for these income groups."
Read the full report here.