Study Shows Year-long Impact of President Biden Economic Investments
MADISON, Wis. — President Biden and Democrats’ American Rescue Plan has defined the past year for working families across Wisconsin, as Governor Evers directed funding to support economic recovery for small businesses, local entertainment and tourism industries, and rural communities.
This month, the Roosevelt Institute released new data showing the year-long impact the American Rescue Plan has had across the country. Nationally, the ARP has supported an economic recovery in which:
- The U.S. added an average of 555,000 jobs per month, totaling 6.1 million new jobs in 2021 – with 405,000 new jobs a month in the past four months. This recovery is happening at roughly eight times the speed of economic recovery after the Great Recession.
- Wages are increasing for workers, including those who have been historically left behind in previous recoveries. Nationally, workers with a high-school education and those at the bottom of income distribution all saw an increase in wages, which was stronger than average for comparable periods of economic recovery.
- The bottom 50% of lower income households have 63% more wealth than they did pre-pandemic and families across all income levels have between 40 to 70% larger cash balances than pre-pandemic.
Wisconsin continues to benefit from Governor Evers’ investments, funded by President Biden’s American Rescue Plan, across the state:
- Wisconsin Examiner: $200 million in ARPA money sent to local governments across Wisconsin
- WKOW: Gov. Evers announces nearly $60 million to bolster Wisconsin workforce
- WKBT: Wisconsin designates $2 million from rescue act to nonprofit agency to ensure health coverage
- Milwaukee Business Journal: Marcus Theatres, Milwaukee Admirals among organizations to receive additional state grants
- Up North News: How Local Wisconsin Officials Are Using American Rescue Plan Money