Emergency Jobs to Restore the American Dream Act
I will be introducing a bill, The Emergency Jobs to Restore the American Dream Act, to put over 2 million people to work. Economists estimate a 1.3 percent reduction in unemployment. It costs $227 billion dollars for 2 years and can be paid for by requiring millionaires and billionaires to pay their fair share as in my Fairness in Taxation Act.
Every penny of this plan must go to a job -- not to a tax incentive in the hopes that somebody creates a job. This two-year jobs program will help get the economy up and running again while investing in critical areas of our nation’s infrastructure.
The biggest crisis that faces the United States isn’t the federal deficit. It’s the jobs deficit. Over the last decade we’ve watched the middle class shrink, and the rich get richer and richer. The American Dream is becoming increasingly out of reach for most Americans, and now is the time to take bold action to get the economy working again for all Americans.
The pundits in Washington would have us believe that we have only two options when it comes to deficit reduction: cutting spending or raising revenue. The reality is there is a third option, growing the economy, and that can only be done by putting people back to work.
The reason businesses are not hiring is not because of a lack of confidence; it’s a lack of customers. With more people employed and spending, we can set ourselves on the path to recovery.