Job Growth Remains Strong Under Biden-Harris Administration as Reports Show Trump’s Project 2025 Agenda Would Cause Recession, Send Inflation Soaring, and Slow Growth 

In response to today’s jobs report, DNC National Press Secretary ⁨Emilia Rowland⁩ released the following statement:

“Today the American economy marks its 45th month of consecutive job growth under the Biden-Harris administration, with the creation of over 16 million jobs since the start of their term. The contrast couldn’t be starker: Donald Trump and MAGA Republicans continue to push their Project 2025 agenda that would cost America 3.1 million jobs, give giant tax cuts for billionaires and big corporations, end the ACA, cut overtime and make it harder for workers to organize, and impose a national sales tax that would raise costs by nearly $4,000 per year. Trump left office with the worst jobs record since Herbert Hoover and America can’t afford to go back. Americans deserve a president who will fight for the middle class and give everyone a chance to succeed — and that’s Kamala Harris.”

NEW: September’s jobs report shows the 45th consecutive month of job growth under the Biden-Harris administration as unemployment remains low.

Heather Long, Washington Post: “JUST IN: A strong jobs report. The US economy added 254,000 jobs in September. That’s way above expectations and a nice bounce from 159,000 in August. (Both July & August revised up)

Unemployment rate: 4.1%. (Down from 4.2% in August)

Wages: +4% in past year (vs. 2.5% inflation)”

New York Times: “Despite all the hand-wringing, the U.S. labor market remains impressively strong.

“Businesses reported adding 254,000 jobs in September, the government reported on Friday. The number far surpassed forecasts and was the strongest monthly gain since March.”

Washington Post: “Employers added 254,000 jobs in September, reflecting a stronger than expected labor market.”

The contrast in economic visions couldn’t be starker, and majorities of Americans say that Democratic policies are fighting for the middle class while MAGA Republicans only fight for the ultra-wealthy and big corporations.  

The Harris-Walz campaign’s New Way Forward will spur job growth, build up the middle class, boost small businesses, and invest in entrepreneurs.

A New Way Forward for the Middle Class: “Goldman Sachs estimates the biggest boost to the U.S. economy from a Vice President Harris win. They estimate that job growth will be higher and inflation lower than if Donald Trump is elected. A Harris victory would lead to between 10,000 and 30,000 more new jobs per month than if Trump is elected.”

Reuters: “Under Harris, job growth would be 10,000 a month higher than if Trump wins with a divided government, and 30,000 higher than with a Republican sweep, Goldman estimates.”

Axios: “The paper, titled ‘A New Way Forward for the Middle Class,’ says that Harris will ‘call on Congress to pass the first-ever federal ban on price gouging.’

“‘The bill will set rules of the road to make clear that big corporations can’t unfairly exploit consumers during times of crisis to run up excessive corporate profits on food and groceries.’”

Politico: “In her speech, Harris reiterated her support for several other major economic efforts, including a federal ban on corporate price-gouging, expanding tax credits for new small businesses, extending the child tax credit and pledging to build 3 million new homes to address the housing shortage.”

Politico: “Harris’ proposal, released on Tuesday, calls for significantly expanding the tax deduction for start-up expenses from $5,000 to $50,000, while also setting the goal of 25 million new small-business applications during her first term, according to a Harris campaign official granted anonymity to describe details of the plan. The plan also proposes reducing barriers to getting occupational licenses and developing a standard tax deduction for small businesses.”

Donald Trump left office with the worst jobs record of any president in modern American history and his MAGAnomics tax scam – which his Project 2025 agenda would extend – incentivized companies to ship jobs overseas, and screw over American workers. 

Reuters: “How offshoring rolled along under Trump, who vowed to stop it”

The Guardian: “‘He pulled the wool over our eyes’: workers blame Trump for moving jobs overseas” 

“Promises to save US manufacturing and prevent American jobs moving abroad were a key part of Donald Trump’s 2016 campaign. But since Trump took office in January 2017, nearly 200,000 jobs have been moved overseas, based on Trade Adjustment Assistance certified petitions.”

Politico: “Trump hails ‘manufacturing miracle’ as factories bleed jobs”

Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”

Fortune: “Trump to leave office with the worst jobs record since Herbert Hoover”

Wall Street Journal: “President Trump’s trade war against China didn’t achieve the central objective of reversing a U.S. decline in manufacturing, economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.”

New York Times: “After Years of Growth, Automakers Are Cutting U.S. Jobs”

Bloomberg: “The Offshoring of U.S. Jobs Increased on Trump’s Watch”

Trump has been clear that he would send new, good-paying manufacturing jobs overseas by repealing the Biden-Harris Inflation Reduction Act — which has already helped spur over 330,000 clean energy jobs – and his Project 2025 plans would cost the U.S. millions of  jobs, send inflation soaring, and raise taxes on everyone but the wealthy elite.

Axios: “Trump’s inflation bomb: How his second-term plans could make it worse”

Wall Street Journal: “Economists Say Inflation Would Be Worse Under Trump Than Biden”

USA Today: “Under a Trump administration, inflation would rise from 3% this year to 3.5% in 2025, compared to 2.4% under Harris, the Moody’s analysis shows. At the end of a Trump tenure the U.S. would have 3.1 million fewer jobs than under Harris and a 4.5% unemployment rate, a half percentage point higher.”

The 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.”

Politico: “Donald Trump pledged Thursday to rescind any ‘unspent’ funds under the Inflation Reduction Act should he be elected in November — potentially upending key parts of the Democrats’ climate law and its benefits to Republican-led communities.”

Center for American Progress: “Project 2025’s tax plan includes an ‘intermediate tax reform’ that includes changes to tax brackets and corporate tax cuts that would shift the tax burden toward middle-income households. And the ‘fundamental tax reform’ it proposes would replace all individual income and corporate taxes with consumption taxes.”

Congressional Republicans are doing Trump’s bidding and railing against affordable health care and pushing for tax cuts for billionaires. 

NBC News: “The former president made a similar promise in 2016. The following year, he endorsed a Republican-led bill to undo a substantial portion of the law, repealing the ACA’s subsidy extensions and regulations in an attempt to lower costs on the open market. The nonpartisan Congressional Budget Office projected that it would have rescinded insurance coverage for about 23 million people. It also threatened protections for pre-existing conditions.”

CNN: “At the dinner, hosted by billionaire investor John Paulson, Trump told the crowd that one of his core issues for a second term would be extending the sweeping tax cuts that congressional Republicans approved in 2017. While the Tax Cuts and Jobs Act reduced taxes for most Americans, the rich benefited far more than others.”

Axios: “GOP lawmakers cautiously open to Trump’s ACA repeal push”

“What they’re saying: Two top Senate Republicans signaled they could be open to a revived effort.

“‘I think Obamacare has been one of the biggest deceptions on the American people,’ said Sen. John Cornyn (R-Texas). ‘I mean just look at your health care premiums.’ But he added he would ‘be interested to hear exactly how’ Trump would approach repeal.

“Sen. Mike Crapo (R-Idaho), who’s in line to run the Finance Committee if the GOP retakes the Senate, said he’s open to plans that were similar to the 2017 repeal and replace bills.”

Semafor: “What exactly goes into that package is still an open question, however. As [Mike Johnson] mentioned, the core of any bill would be addressing the individual tax cuts passed under Trump that are scheduled to sunset in 2025, and are estimated to cost trillions to fully renew.”