Sen. Cassidy: Biden tax hike won’t come close to paying for infrastructure
Louisiana Republican discusses the president’s multi-trillion-dollar spending plan on ‘Your World’
President Biden significantly misstated estimates on how many jobs would be created through the implantation of his “American Jobs Plan” during a speech Wednesday in Lake Charles, Louisiana.
Biden has called on Congress to approve roughly $2.2 trillion in spending on physical infrastructure projects as well as other goals favored by his administration, such as jobs training and elderly care. In his latest pitch, the president claimed the “American Jobs Plan” would add 16 million jobs to the economy – well above actual projections.
“All the economists, including the liberal as well as the conservative think tanks, point out we will create up to 16 million good-paying jobs,” Biden said at the event. “Not $8 an hour or $12 an hour or $15 an hour. Prevailing wage jobs, wages you can raise a family on. My dad would say, just a little bit of breathing room after everything’s paid.”
Biden did not specify which studies projected his plan would create 16 million jobs. But the remark appeared to be a reference to a study conducted by economic research firm Moody’s Analytics, which projected a far smaller number.
An April 2021 report by Moody’s determined the US economy would add roughly 16.3 million jobs through 2030 regardless of whether Biden’s “American Jobs Plan” passed. The study found the economy would add roughly 2.7 million more jobs, or about 19 million in total, if the infrastructure plan is implemented.
A White House spokesperson did not immediately respond to a request for clarification on Biden’s remarks.
Biden made a similar reference to the Moody’s study at an event earlier this week, according to a White House transcript.
“You have Moody’s talking about increasing it up to — I don’t know what the most recent one is — 16 million new jobs,” Biden said. “It’s about growth, not stunting growth.”
White House officials have misrepresented the Moody’s analysis on several occasions in recent weeks. Biden said at an event in early April that “independent analysis” showed the infrastructure plan “will create 19 million jobs.”
White House National Economic Council Brian Deese referenced the same 19 million jobs figure during an appearance on “Fox News Sunday” and attributed the number to Moody’s Analytics.
White House Press Secretary Jen Psaki later clarified the administration’s remarks at an April 6th briefing.
“Moody’s ran an analysis that showed that the economy would create 19 million jobs over the next decade if Congress passes the American Jobs Plan — almost 3 million more than if it doesn’t,” Psaki said. “So that is the — that is what the impact would be of the American Jobs Plan: 2.7 million, to be totally clear.”
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