President Biden’s Economic Agenda

The Biden administration has put forward an ambitious slate of economic policy proposals aimed at addressing a range of national challenges — as well as ways to offset this significant new spending. While it’s important to pay for new priorities, our nation remains on an unsustainable fiscal path that threatens our future economy.

Biden's Economic Plan


WHAT IS IN THE BUILD BACK BETTER ACT?

The legislation includes support for families and lower-income households, funding for climate change, infrastructure and healthcare, and a range of other social investments and tax policy. The new spending is mostly, but not fully, offset by other savings in the bill.

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“BUILD BACK BETTER” IS MOSTLY PAID FOR — BUT USES BUDGET GIMMICKS

The Build Back Better Act includes spending on a wide variety of policy areas. If enacted, the legislation would provide benefits for many lower-income households and take steps to address climate change and other social investments.

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HERE'S WHAT A BUDGET GIMMICK IS AND HOW TO SPOT ONE

Democratic leaders have revealed specific details for how they intend to pay for, or offset, the approximately $3.5 trillion of spending in their reconciliation bill.

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The State of the Economic Recovery


POVERTY RATE INCREASED FOR THE FIRST TIME IN FIVE YEARS, AND OTHER KEY TAKEAWAYS FROM THE CENSUS REPORT

In its annual report on income and poverty, the U.S. Census Bureau publishes data on national economic measures such as household income, earnings, wealth, employment, and poverty.

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LEADING ECONOMISTS: THE ECONOMY BOUNCED BACK FAST, BUT MAJOR QUESTIONS REMAIN

With our economy in recovery, the national debt rising unsustainably, the country still grappling with a devastating pandemic, and lawmakers pursing significant new legislation, America faces many critical questions for its future. To shed light on the best way forward, two top economists participated in a panel discussion as part of the latest edition of the Peterson Foundation Economic Forum.

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Lawmakers have now passed a total of six major COVID relief bills at a cost of $5.3 trillion to help our nation cope with the devastating health and economic impacts of the coronavirus pandemic. The latest bill, the American Rescue Plan, comes with a $1.9 trillion price tag, and includes everything from stimulus checks to certain taxpayers to aid for local governments. Here's a breakdown of the major programs.

 

Explore Pandemic Relief Funding by State

To respond to the devastating health and economic effects of the coronavirus (COVID-19) pandemic, federal policymakers have enacted several bills, which include significant funding for new and existing programs to aid individuals, businesses and governments across the country. See how much has gone to each state.  

Other Helpful Resources

Five Different Ways of Raising Taxes on the Wealthiest Americans

The administration and Congress have suggested adding new sources of revenue through various types of taxation of wealth.

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Understanding the Coronavirus Crisis: Key Fiscal and Economic Indicators

The coronavirus (COVID-19) pandemic is an unprecedented national emergency requiring a significant federal response. This page provides resources and analysis, tracking the actions our leaders are taking to respond, and providing insights on the state of America’s fiscal and economic outlook during the recovery.

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National Debt and the Next Generation

A secure fiscal foundation creates economic opportunity and prosperity for the next generation.

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What Does the Debt Mean for Our Future?

We all have a responsibility to build a brighter fiscal and economic future for the next generation.

National Debt Clock

See the latest numbers and learn more about the causes of our high and rising debt.