NEW: Latest Jobs Report Shows President Biden Continues to Grow the Economy for Hardworking Families

Today’s jobs report shows 206,000 new jobs were created in June, for a total of over 15.7 million jobs created under President Biden’s leadership. Now, more Americans are joining the workforce, with the highest share of working-age Americans in the workforce in over 20 years. While Donald Trump and MAGA Republicans want to extend their disastrous tax scam that helps billionaire CEOs pay even less in taxes and leaves working families behind, today’s jobs report is another sign of economic strength as President Biden and Democrats across the country continue to fight every day to give every American a fair shot.

NEW: Today’s jobs report reflects how President Biden’s economic agenda continues to deliver for the American people.

Associated Press: “US employers added solid 206,000 jobs in June in sign of continued economic strength”

According to Moody’s, Donald Trump’s MAGAnomics agenda would slow down economic growth, trigger a recession by 2025, and increase unemployment rates.

USA Today: “According to a Moody’s study, Trump’s 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. (The latter is in line with average growth in the decade before the pandemic.)

“Next 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’s 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.”

While President Biden works to lower costs for hardworking families, Donald Trump’s MAGAnomics agenda disproportionately benefits the ultra-wealthy and big corporations – and he has promised to double down in a second term. 

Center for American Progress: “Trump’s latest idea to replace all income taxes with tariffs is mathematically impossible, but even if it were feasible, it would dramatically increase income inequality and raise taxes for the bottom 90 percent of households. It would raise taxes for middle-income households by $5,100 to $8,300 while cutting taxes for the top 0.1 percent by at least $1.5 million annually.”

Guardian: “They were billed as a ‘middle-class miracle’ but according to a new book Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.”

Washington Post: “Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Further cutting corporate taxes … would primarily benefit large firms.”

Bloomberg: “[Trump] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.”

President Biden is investing in industries of the future of America, leading a manufacturing boom that’s creating good-paying jobs across the country. “President Biden’s Investing in America agenda is mobilizing historic levels of private sector investments in the United States, bringing manufacturing back to America after decades of offshoring, and creating new, good-paying jobs, including union jobs and jobs that don’t require a college degree.”

Bloomberg: “US Steel CEO Hails IRA as a ‘Manufacturing Renaissance Act’”

Wall Street Journal: “Shift to EVs Triggers Biggest Auto-Factory Building Boom in Decades”

Yahoo News: “Under President Biden, however, a manufacturing boom finally seems to be getting started. Since the beginning of 2022, construction spending on new factories has more than doubled, from an annualized rate of $91 billion in January 2022 to $189 billion in April 2023, the latest data available. That’s the biggest jump, by far, in data going back to 2002.”

The Hill: “A surge in manufacturing construction across the country is grabbing the attention of economists and workers on the ground as legislative efforts to reinvigorate the U.S. industrial base are bearing fruit.”