Rebuilding our economy and putting our region’s residents back to work remains my number one priority. During the height of the COVID pandemic, Congress passed the American Rescue Plan Act that provided millions in direct payments, unemployment benefits, and small business support. The bill provided a lifeline for the hardest-hit small businesses with Economic Injury Disaster Loan (EIDL) grants, expanded PPP eligibility, and more.
I will continue supporting legislation that will create jobs and move our economy forward by investing in the growing industries of health care, clean energy, and technology. This will not only make our economy stronger today, but make our future brighter tomorrow.
I also believe that while we must strengthen the economy, we must also ensure our economy works for everyone. I am pleased that California raised the minimum wage, and I strongly support raising the national minimum wage to keep pace with rising costs.
I voted to pass the Inflation Reduction Act which closed tax loopholes, imposed a minimum tax on all large corporations with profits over $1 billion, and created a new tax on all stock buybacks. The IRA also provided funding to step up enforcement of tax fraud among the wealthiest 1.8% of Americans. This legislation will help level the playing field for small businesses and middle-class families by ensuring the largest corporations and wealthiest Americans are paying their fair share.
And, while the unemployment rate was under 4% at the end of 2023, we know that can be an incomplete picture. We need to ensure those with work receive a living wage and that their salaries are growing as costs go up. The recent investments from the IIJA, IRA, and CHIPS Acts are already bringing federal funding to our region that will help support the jobs and industries of tomorrow.
With the large role women play in today’s workforce, the success of our economy relies on the economic security of women. That is why I joined my colleagues in launching “When Women Succeed, America Succeeds: An Economic Agenda for Women and Families.” This Economic Agenda includes legislation enabling women to achieve greater economic security, raising wages for women and their families, and allowing working parents to support and care for their families. From legislation ensuring equal pay for equal work to paid sick leave to protections for pregnant workers, I strongly support legislation that will help women succeed, because when women succeed, America succeeds.
