The Trump and Bush-era tax cuts are projected to give a $2 trillion break for the wealthiest 1 percent by 2025. Meanwhile, Republicans have proposed $2 trillion in cuts to Medicare, Medicaid, Social Security, and the ACA between 2019-2028. The average beneficiary of these programs stands to lose an average of $1,500 per year in services or tax credits. This would translate to 3.6 weeks of unpaid work for a retail sales person earning $23,000—the most common job in America. The average household would lose over $3,000 in services and tax credits per year.
Renewable energy is rapidly gaining market share in America’s electricity markets. In 2017, renewable energy sources were used to produce nearly one-fifth (17 percent) of the electricity generated in the United States. This is almost twice the market share renewables had in 2008 (9 percent). And this is just the start, as renewables are projected to continue to grow and take market share from more traditional energy sources.
Although the U.S. economy overall continues its expansion following the Great Recession and associated financial crisis, the recovery can look very different from state to state. The lion’s share of economic gains are not only concentrated at the top of the income and wealth distribution, but also in a small share of regions. While some parts of the country have surged ahead, millions of Americans in urban and rural communities are still waiting for their wages to start rising again and struggling to make ends meet.
Hurricanes Irma and Maria shattered Puerto Rico a year ago, leaving behind widespread destruction and a humanitarian crisis. In addition to the devastating human toll, the storms devastated the already crumbling infrastructure on the island, particularly the aged electrical power grid. Reliable electric power is foundational to a well-functioning society and to long-term economic growth. In most parts of the United States, it is easy to take for granted the security that comes from dependable electricity. In Puerto Rico, however, Americans are still struggling to access reliable electricity a year after Hurricane Maria wiped out power across the island—the longest blackout in U.S. history.
For too many families who are struggling financially, the American Dream seems out of reach. When families cannot make ends meet, children grow up without the resources they need to thrive later in life. Federal investments addressing child poverty set future generations up for success and fuel a strong, vibrant economy.