🧵Greatest hits collection of slides from the Biden Admin and experts explaining the specific impacts of his economic agenda & laws.
First, the $1,400 checks in the Rescue Act for parents and some dependents meant up to $6,000 for a family of four. 1/
home.treasury.gov/news/featured-…
The Rescue Act greatly expanded the Child Tax Credit, putting money in pockets fast and drastically reducing child poverty:
+$1,600 per child under age 6
+$1,000 per child 7-17 2/
The Rescue Plan helped provide healthcare while supporting businesses and schools. It also funded a generous expansion of unemployment insurance, helping millions hit by the pandemic.
Here's a visual summary of the many areas helped: 3/
The second key legislative achievement was the bi-partisan $1.2T Infrastructure Act, which is supporting job creation and competitiveness over the next decade and beyond. 4/
whitehouse.gov/briefing-room/…
A third legislative achievement was the Inflation Reduction Act (IRA), which includes clean energy incentives, prescription drug cost reductions, and taxes on big corporations. 5/
whitehouse.gov/briefing-room/…
Here's a statement from Speaker Emerita Nancy Pelosi and others (link) on the positive impact of the IRA: 6/
whitehouse.gov/briefing-room/…
A fourth legislative achievement was the CHIPS and Science Act. It included $280 billion in investments over 10 years, much of it for R&D and to encourage semiconductor manufacturing in the U.S. This isn't just about jobs, it's about national security. 7/
McKinsey did a detailed report on the CHIPS & Science Act, highlighting the major investment in research & development. 8/
mckinsey.com/industries/pub…
Biden hasn't just passed consequential legislation. His team has gotten specific, consequential things done.
Over 42 million people got a nearly 40% increase in average food stamp (SNAP) monthly benefits in 2021. 9/
nytimes.com/2021/08/15/us/…
The U.S. financial & military support for Ukraine has contributed to a devastating impact on Russia's military, at a tiny fraction (<1%) of our annual budget. Now that is a return on investment, but many pro-Russia Republicans want to stop it. 10/
nbcnews.com/news/world/rus…
Biden has eliminated $132 billion in student loan debt, for 3.6 million borrowers under existing rules.
He was blocked by Republicans from doing $400B more via legislation and SCOTUS blocked his Executive Order. 11/
ed.gov/news/press-rel…
While it's a common talking point among right-wing pundits, US crude oil production fell in 2020 under Trump and hit a record level in 2023 under Biden. 12/
So what's next? With a Democrat majority and ideally supermajority:
1. Pass national abortion rights law (Codify Roe)
2. Strengthen Social Security and Medicare
3. Expand ACA access
4. Strengthen safety net via child- and elder-care. 13/
How effective has Bidenomics been? Compare the inflation-adjusted ("real") key measures in 2019 vs. 2023. 14/END
ACA Marketplace enrollment nearly doubled from 2020 (11 million) to 2024 (21 million), thanks to enhanced subsidies in Biden's Rescue Act and Inflation Reduction Act (IRA).
kff.org/policy-watch/w…
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