Joe Biden seeks to convince Americans that Congress needs to pass his next big-ticket economic plan with claims that the $2.25 trillion measure is a once-in-a-generation investment in the nation’s economy and infrastructure, according to Fox Business.
“Independent analysis shows that if we pass this plan the economy will create 19 million jobs,” Biden said last week. “Good jobs, blue-collar jobs, jobs that pay well.”
Reports state that the figure cited by Biden comes from a Moody’s Analytics estimate.
Moody’s Analytics found the U.S. economy will add about 19 million jobs between the fourth quarter of 2020 and the fourth quarter of 2030 if lawmakers pass the American Jobs Plan.
“Moody’s suggests it would create 19 million jobs,” said Brian Deese, the director of the National Economic Council.
Pete Buttigieg, the secretary of transportation said the 19 million figure includes just 2.7 million from the passage of the American Jobs Plan.
“I should be precise about this. Moody’s modeled a scenario where the American Jobs Plan is passed. In that scenario they see the American economy creating 19 million jobs,” he said. “That’s 2.7 [million] more than if this bill doesn’t pass.”
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Over that 10-year time period, the economy is already on track to add about 16.3 million jobs, whether or not Congress passes the infrastructure bill, according to Moody’s. That would mean the proposal itself will add about 2.7 million jobs, significantly fewer than the 19 million promoted by Biden and other administration officials.
The White House did not immediately respond to a FOX Business request for comment, but Buttigieg did acknowledge during an interview on CNN’s “Situation Room” that the 19 million figure includes just 2.7 million from the passage of the American Jobs Plan.