By Natalie Quillian, Assistant to the President and Deputy Chief of Staff
During his first two years in office, President Biden worked with congressional Democrats to pass historic legislation that forms the basis of his Investing in America agenda, a cornerstone of Bidenomics. The American Rescue Plan, the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act are changing lives across the country by lowering costs, creating good-paying jobs, revitalizing American manufacturing, and empowering workers. This year, the President and the entire Biden-Harris administration have worked every day to quickly and effectively implement these laws and invest in communities that are too often left behind. And we’re showing Americans how President Biden’s agenda is benefiting their communities: We sent cabinet and administration officials to more than 40 states on four Investing in America tours, where we held hundreds of events to highlight the impact of the president’s agenda. We also launched a new invest.gov website where Americans can see how President Biden’s actions are reaching their own communities.
While we have more work to do, there are many indicators of our progress this year, here are 10 of our favorites:
Investing in America 2023 Top 10
1. Saved 15 million Americans $800 in 2023 on health insurance, capped insulin at $35 for Medicare seniors, began price negotiations for 10 drugs, made recommended vaccines free for Medicare and Medicaid beneficiaries, and implemented four-quarters of the inflation cut. Inflation Reduction Act, saving some seniors hundreds of dollars per prescription all thanks to the Inflation Reduction Act.
2. Created more than 210,000 new clean energy jobs since August 2022 thanks to investments boosted by the Inflation Reduction Act and 252,000 construction jobs in 2023.
3. Mobilize nearly $180 billion in private sector investment in 2023, bringing total private sector investment in clean energy and manufacturing to $628 billion since President Biden takes office. A recent Treasury Department study found that 81 percent of reported investments in clean energy projects since the Inflation Reduction Act was signed have been in counties with lower-than-average wages.
4. Far exceeded forecasts and expectations for industrial construction investment in the United States, likely due to new projects and investments initiated by the Presidents Investing in America program, including the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act:
Significant investments in clean power generation spurred by the Inflation Reduction Act prompted forecasters to increase their estimates of clean power generation in the United States:
5. Announced the first potential CHIPS award to BAE Systems, Inc. of New Hampshire, marking a new phase in CHIPS deployment that will continue to drive investment, support American supply chains, protect national security and create jobs.
6. Announced more than 33,000 infrastructure projects under bipartisan infrastructure legislation in 2023 alone, including $30 billion for world-class rail, seven regional clean hydrogen hubs, projects to replace hundreds of thousands of lead pipes, and more than 60 projects to improve the electric grid. , bringing the total number of announced projects to more than 40,000 since the bipartisan infrastructure bill was signed into law.
7. Workers across industries, especially union workers, won historic pay raises, including a 30 percent raise for UAW workers in the Big Three, up to a 55 percent raise for UPS Teamsters workers, a 32 percent raise for culinary workers in Las Vegas, and health care workers at Kaiser Permanente 21 percent increase.
8. The White House launched five workforce centers across the country to build pipelines to good jobs in areas where public and private investment spurred by the Investing in America program has been concentrated. The First Lady traveled to job centers across the country to highlight investments from employers, colleges, unions and local leaders to create new labor pipelines, including commitments to train tens of thousands of workers in construction, new semiconductor manufacturing programs. and new and expanded registered apprenticeship programs.
9. Founded the American Climate Corps to mobilize a new, diverse generation of clean energy, conservation and sustainability workers. More than 40,000 people, most of them under the age of 35, became interested in just the first few weeks after the initiative was launched.
10. Enrolled 7 million households in the Affordable Connectivity Program in 2023, bringing the total to more than 22 million households in the program, saving families $30 to $75 per month on their Internet bills over the past year.
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Image Source : www.whitehouse.gov