Economic Progress Under President Biden This Week

President Biden’s economic plan is delivering for the middle class and working families. Just this week:

• The President announced an agreement with Mexico to protect American steel and aluminum workers by closing a loophole left in place by his predecessor that let China evade our tariffs.

• The President announced a historic investment to help ensure the future of the auto industry is made in America by American workers—creating and retaining thousands of union jobs by helping auto companies retool, reboot, and rehire in communities from Lansing, Michigan to Fort Valley, Georgia.

• The Administration announced the recovery of $1 billion in unpaid taxes from millionaires thanks to the President’s Inflation Reduction Act—which is helping crack down on wealthy tax cheats.

• The Administration made the largest-ever set of investments in Registered Apprenticeships, doubling the number of people entering Registered Apprenticeships.

• Inflation fell to 3% and overall prices fell last month—with wages rising faster than prices for 16 months in a row, and prices down for cars, appliances, and groceries since the start of the year.

• A new report found that communities left behind by the previous administration are making a “remarkable comeback,” creating new jobs five times faster under President Biden.