Congressman Richard E. Neal Introduces Legislation to Jumpstart Economy, Grow Middle Class and Fight Income Inequality

Statement

Congressman Richard E. Neal, Ranking Member of the House Ways and Means Select Revenue Subcommittee, last week introduced legislation to jumpstart the sluggish economy, finance critical infrastructure investments, fight income inequality and create jobs. The Invest in US Act, extends and reauthorizes key bond measures beneficial for our states and municipalities, extends several critical tax credit initiatives, sets up an infrastructure bank, increases the minimum wage and provides small businesses with tax relief.

"Right now the U.S. economy is stuck in a rut, the unemployment rate remains stubbornly high and the growing income inequality in America threatens to derail our economy altogether," Neal said. "In December 2013, we saw the economy only add 74,000 jobs, our lowest since 2011. According to the Bureau of Labor and Statistics, in 2013 the economy averaged adding 183,000 jobs a month. At this current rate, the Federal Reserve says the unemployment rate will remain above 6.5 percent until 2015. This is simply unacceptable, and America can do better, and we must. The recession has wiped out 8 million jobs, and it is imperative that we get them back. That is why I introduced the Invest in US Act. This legislation will go a long way in creating an environment where our economy can take off by making the strategic investment needed to spur growth. Furthermore, the legislation takes full aim at the growing income inequality by increasing the minimum wage, while also providing tax relief for businesses that hire new employees and buy new equipment."

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