{"id":1047859,"date":"2024-09-06T16:40:21","date_gmt":"2024-09-06T20:40:21","guid":{"rendered":"https:\/\/democrats.org\/?p=1047859"},"modified":"2024-09-06T16:40:54","modified_gmt":"2024-09-06T20:40:54","slug":"new-august-marks-44th-month-of-consecutive-job-growth-under-biden-harris-administration-while-trump-vance-agenda-would-cost-america-3-2-million-jobs","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-august-marks-44th-month-of-consecutive-job-growth-under-biden-harris-administration-while-trump-vance-agenda-would-cost-america-3-2-million-jobs\/","title":{"rendered":"NEW: August Marks 44th Month of Consecutive Job Growth Under Biden-Harris Administration While Trump-Vance Agenda Would Cost America 3.2 Million Jobs"},"content":{"rendered":"\n

Unemployment Remains Low Under Biden-Harris Administration As Reports Show Trump\u2019s Project 2025 Agenda Would Cause Recession, Send Inflation Soaring, and Slow Growth <\/em><\/p>\n\n\n\n

In response to today\u2019s jobs report, <\/em>DNC National Press Secretary \u2068Emilia Rowland\u2069 released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cAs the Biden-Harris administration marks its 44th month of consecutive job growth<\/a> and the creation of nearly 16 million jobs since the start of their term, Donald Trump and MAGA Republicans continue to push their Project 2025 agenda that would cost America 3.2 million jobs<\/a> after Trump left office with the worst jobs record since Herbert Hoover<\/a>. This election is a choice between Vice President Harris\u2019 plans to support small businesses and invest in entrepreneurs versus Donald Trump and JD Vance\u2019s plan to extend Trump\u2019s disastrous tax scam that gave massive handouts to billionaires and big corporations while leaving the middle class behind. Americans won\u2019t turn back to Republicans\u2019 failed trickle-down economics of the past.\u201d<\/p>\n\n\n\n

NEW: August\u2019s jobs report shows the 44th consecutive month of job growth under the Biden-Harris administration, as unemployment remains low \u2014 while the Trump-Vance Project 2025 agenda could cost America 3.2 million jobs.<\/strong><\/p>\n\n\n\n

Michelle Fleury, BBC News<\/a>: \u201cThe US economy added 142,000 jobs in August, while the unemployment rate fell to 4.2% from 4.3%.\u201d<\/p>\n\n\n\n

NBC News<\/a>: \u201cU.S. economy adds 142,000 jobs, unemployment ticks down slightly\u201d<\/p>\n\n\n\n

USA Today<\/a>: \u201cNext year, under a Trump administration, inflation would rise from the current 3.3% to 3.6%, well above the 2.4% forecast under Biden, the Moody\u2019s analysis shows. Compared with Biden, the U.S. would have 3.2 million fewer jobs and a 4.5% unemployment rate, a half percentage point higher, at the end of a Trump tenure.\u201d<\/strong><\/p>\n\n\n\n

Just this week, Vice President Harris laid out her plans to build up the middle class, boost small businesses, and invest in entrepreneurs.<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cHarris readies aggressive tax boost for new small businesses<\/strong>\u201d<\/p>\n\n\n\n

\u201cThe latest proposal includes a tenfold increase in the tax deduction for starting a small business<\/strong> \u2014 from $5,000 to $50,000.<\/p>\n\n\n\n

\u201cIn an effort to reduce taxes, new businesses will be allowed to wait to claim that deduction once they turn a profit.<\/p>\n\n\n\n

\u201cThe proposal also includes measures to cut red tape by developing a standard deduction for small businesses and reducing barriers to getting occupational licenses across state lines.\u201d<\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cHarris targets small business tax break in contrast with Trump\u2019s corporate tax cuts\u201d<\/p>\n\n\n\n

\u201cKamala Harris rolled out a new plan for small business tax breaks, as the vice president looks to contrast her economic agenda with former President Donald Trump ahead of next week\u2019s debate\u2026<\/p>\n\n\n\n

\u201cThe proposal\u2019s focus on tax breaks for small businesses attempts to craft a contrast with Trump, who has called for lowering the corporate tax rate<\/strong>, as well as extending and expanding his 2017 tax law\u2026<\/p>\n\n\n\n

\u201cHarris\u2019 proposal, released on Tuesday, calls for significantly expanding the tax deduction for start-up expenses from $5,000 to $50,000, while also setting the goal of 25 million new small-business applications during her first term<\/strong>, according to a Harris campaign official granted anonymity to describe details of the plan. The plan also proposes reducing barriers to getting occupational licenses and developing a standard tax deduction for small businesses.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cHarris to Expand Small Business Tax Relief to Boost Startups\u201d<\/p>\n\n\n\n

\u201cHarris also plans to initiate a small business expansion fund to enable community banks to cover interest costs when emerging enterprises are trying to expand, particularly in regions that have historically struggled to get investments. If elected, Harris will also pledge to ensure that one-third of federal contract dollars go to small businesses<\/strong> by expanding opportunities in rural areas and underserved communities.\u201d<\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cKamala Harris to Propose Expansion of Small-Business Startup Tax Deduction\u201d<\/p>\n\n\n\n

USA Today<\/a>: \u201cHarris to propose $50k tax break for small businesses in economic plan\u201d<\/p>\n\n\n\n

Fox Business host Stuart Varney and RNC Chair Michael Whatley agree that Harris-Walz\u2019s plan to support new small businesses is a good idea.<\/strong><\/p>\n\n\n\n

Stuart Varney<\/a>: \u201cI just want to press the point, when a political candidate comes up with what I think is a good idea, I have to call it a good idea. And a $50,000 tax cut, not tax cut but a tax credit, for start ups or small businesses, coupled with less red tape, I gotta say, that is a good idea<\/strong>.\u201d <\/p>\n\n\n\n

[…]<\/p>\n\n\n\n

Whatley: \u201cThat may be a good idea.\u201d<\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

<\/strong><\/a><\/p>\n\n\n\n

New Republic<\/a>: \u201cHead of Trump\u2019s RNC Forced to Admit Harris\u2019s Idea Is Really Good\u201d<\/p>\n\n\n\n

Trump\u2019s disastrous Project 2025 agenda would jack up prices, costing typical middle-class families nearly $4,000 a year, trigger a recession by mid-2025, cost America over 3 million jobs, increase the national debt by over $5 trillion, send inflation skyrocketing, and hurt everyone but his wealthy buddies.<\/strong><\/p>\n\n\n\n

Center for American Progress<\/a>: \u201cA typical family would, therefore, pay between $2,500 to $3,900 from Trump\u2019s import taxes, depending on the precise tax rate between 10 percent and 20 percent that various countries\u2019 goods could be taxed at.\u201d<\/p>\n\n\n\n

Axios<\/a>: \u201cTrump\u2019s inflation bomb: How his second-term plans could make it worse\u201d<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cTrump plans would add $5.8 trillion to national debt\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cEconomists Say Inflation Would Be Worse Under Trump Than Biden\u201d<\/strong><\/p>\n\n\n\n

USA Today<\/a>: \u201cAccording to a <\/strong>Moody\u2019s study<\/strong><\/a>, Trump\u2019s plan would trigger a recession by mid-2025 and an economy that grows an average 1.3% annually during his four-year term vs. 2.1% under Biden.<\/strong> (The latter is in line with average growth in the decade before the pandemic.)\u201d<\/p>\n\n\n\n

Vanity Fair<\/a>: \u201cDonald Trump Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term: Report\u201d<\/p>\n\n\n\n

Trump\u2019s economic agenda failed working families and created new incentives for companies to ship jobs overseas, leaving American workers behind.<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cTrump told GM workers he could save their plant, but it\u2019s gone for good\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised this Wisconsin town a manufacturing boom. It never arrived.\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cPresident Trump\u2019s trade war against China didn\u2019t achieve the central objective of reversing a U.S. decline in manufacturing,<\/strong> economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cAfter Years of Growth, Automakers Are Cutting U.S. Jobs\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/p>\n\n\n\n

ITEP<\/a>: \u201cThe Trump-GOP tax law enacted in December 2017 creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump will have the worst jobs record in modern U.S. history. It\u2019s not just the pandemic.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Unemployment Remains Low Under Biden-Harris Administration As Reports Show Trump\u2019s Project 2025 Agenda Would Cause Recession, Send Inflation Soaring, and Slow Growth  In response to today\u2019s jobs report, DNC National Press Secretary \u2068Emilia Rowland\u2069 released the following statement: \u201cAs the Biden-Harris administration marks its 44th month of consecutive job growth and the creation of nearly […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1047859","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW: August Marks 44th Month of Consecutive Job Growth Under Biden-Harris Administration While Trump-Vance Agenda Would Cost America 3.2 Million Jobs - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-august-marks-44th-month-of-consecutive-job-growth-under-biden-harris-administration-while-trump-vance-agenda-would-cost-america-3-2-million-jobs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-06T20:40:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-06T20:40:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcEQ2QWKhkgUHglO8opX8QYHhS2Waz1mnapbmXOBxN-LY4sC2MqzmsiQ0gGtzMbpBSi7tVJeP12hO3rw0F6HjENuyn6Fd080B9Zp4mGl-I_g7020I49Ai4TCwYPZvR6T2aDyjsaaXysUw4oNs2JMQFXVFQb?key=zEdKp3-OUvJa0x5QYc_PTQ\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-august-marks-44th-month-of-consecutive-job-growth-under-biden-harris-administration-while-trump-vance-agenda-would-cost-america-3-2-million-jobs\/\",\"url\":\"https:\/\/democrats.org\/news\/new-august-marks-44th-month-of-consecutive-job-growth-under-biden-harris-administration-while-trump-vance-agenda-would-cost-america-3-2-million-jobs\/\",\"name\":\"NEW: August Marks 44th Month of Consecutive Job Growth Under Biden-Harris Administration While Trump-Vance Agenda Would Cost America 3.2 Million Jobs - 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