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(American Jobs Plan)

Expected to create 19 million jobs over the next decade.

Source: (U.S. Department of Transportation)

Insights: This will affect 5.7% of the U.S. population, with a focus on infrastructure, clean energy, and manufacturing sectors.

(Employment Growth)

The economy has added 13.5 million jobs since January 2021.

Source: (U.S. Bureau of Labor Statistics, BLS)

Insights: This growth has reduced the unemployment rate from 6.3% to 3.5%, benefiting 10.8 million people who were previously unemployed.

(Child Tax Credit Expansion)

Lifted 3.5 million children out of poverty, reducing the child poverty rate by 30%.

Source: (U.S. Census Bureau)

Insights: This impacted 8.4% of U.S. children, improving financial security for millions of families.

(Median Household Income)

Increased by 4.1% from 2020 to 2023, reaching $74,000.

Source: (U.S. Census Bureau)

Insights: This rise positively affected 128 million households across the nation.

(Paycheck Protection Program (PPP))

Provided over $800 billion in forgivable loans.

Source: (Small Business Administration, SBA)

Insights: Helped save an estimated 6.7 million jobs in small businesses, which account for 99.9% of all U.S. businesses.

(Small Business Growth)

Number of small businesses increased by 5.6% from 2021 to 2023.

Source: (Small Business Administration, SBA)

Insights: Minority-owned businesses grew by 8.3%, adding 2.2 million new businesses.

(Affordable Care Act (ACA) Expansion)

Expanded healthcare coverage to an additional 4 million people through increased subsidies and Medicaid expansion .

Source: (Centers for Medicare & Medicaid Services, CMS)

Insights: Uninsured rate dropped from 9.2% to 8.1%, benefiting approximately 3.6 million Americans (CMS).

(Prescription Drug Costs)

The administration’s efforts to lower prescription drug costs are expected to save Americans $150 billion over the next decade.

Source: (Congressional Budget Office, CBO)

Insights: This policy particularly impacts 46 million seniors enrolled in Medicare.

(Student Loan Forgiveness)

Proposed plan to cancel up to $20,000 per borrower for Pell Grant recipients and $10,000 for other borrowers.

Source: (U.S. Department of Education)

Insights: This would affect approximately 43 million borrowers, reducing student loan debt by $400 billion overall.

(Income-Driven Repayment (IDR) Plan)

New IDR plans cap monthly payments at 5% of discretionary income, down from 10%, benefiting 20 million borrowers.

Source: (U.S. Department of Education)

Insights: This would reduce the burden on borrowers earning less than $30,000 per year.

(Inflation Reduction Act)

The Act aims to reduce the federal deficit by $300 billion over the next decade, potentially easing inflationary pressures.

Source: (Bureau of Labor Statistics, BLS)

Insights: Inflation has moderated from a peak of 9.1% in mid-2022 to 3.2% by mid-2024, helping to stabilize the cost of living for 330 million Americans.

(Energy and Food Prices)

Energy prices have decreased by 18% from their peak in 2022, and food price inflation has slowed to 4.5%, providing relief to all U.S. households

Source: (Bureau of Labor Statistics, BLS)

Insights:

(Clean Energy Jobs)

Investment expected to create 1.5 million jobs by 2030.

Source: (U.S. Department of Energy)

Insights: This will impact 0.45% of the U.S. population, mainly in states leading in renewable energy.

(Electric Vehicle (EV) Investment)

$174 billion committed to support EV transition, targeting 50% of all new car sales to be electric by 2030.

Source: (U.S. Department of Transportation)

Insights: This investment is projected to benefit over 330 million Americans by reducing carbon emissions and improving air quality.

(Corporate Tax Rate)

Proposed increase from 21% to 28% could generate an additional $2 trillion over a decade.

Source: (Congressional Budget Office, CBO)

Insights: Revenue would support infrastructure, healthcare, and education, indirectly benefiting 330 million Americans.

(Top Marginal Tax Rate Increase)

The increase from 37% to 39.6% for high earners would affect about 1.4 million people, generating more revenue for social programs.

Source: (Congressional Budget Office, CBO)

Kamala Harris' economic policies, including 19 million new jobs, a drop in unemployment to 3.5%, and a $800 billion PPP loan expansion, are set to boost consumer spending and small business growth.

Source: (Congressional Budget Office, CBO)

Insights: With an increase in median household income and small business numbers, platforms like Inhouse America stand to benefit from a thriving small business ecosystem.

InHouse America doesn't endorse anyone but focuses on creating awareness of the importance of supporting small businesses and which administration is best for doing so!