This week we are celebrating that our unemployment rate is sitting at a historic low of 3.5% after 528,000 jobs were added in July. Fighting unemployment has been at the top of the agenda for Democrats and the Biden administration, and we are proud to see that people have been able to return to employment – and remain so. Simultaneously, newly released data shows that inflation is slowing, with a 0% rise in prices in July, and gas prices are continuing to plummet nationwide.
Meanwhile, Republicans in New Jersey, like Rep. Jeff Van Drew, are continuing to pledge “undying support” to Donald Trump and the extremist MAGA agenda and are now turning against the law enforcement agents at the FBI who this week executed a search warrant at Trump’s home in Florida. Trump even hosted a $2K-a-head fundraiser in New Jersey the same day he was pleading the Fifth in a Manhattan court.
This only further showcases the contrast between Democrats working to get things done to improve the lives of working families and Republicans continuing to cling on to the lies and radicalism of the Donald Trump led MAGA circus.
GOV. MURPHY UPDATE
Governor Murphy has been in Israel this week meeting with Israeli leaders, including President Issac Herzog, and continuing to deepen the New Jersey – Israel relationship. This important trip, however, didn’t stop him from announcing the allocation of $10 million in funds towards helping gun violence victims and working to break the cycle of gun violence in our New Jersey communities.
The funds will go towards Hospital-Based Violence Intervention Programs (HVIPs) that reach victims of gun violence and others touched by violence at the time of crisis. These types of programs are considered by experts and practitioners to be crucial for violence intervention and prevention and have helped establish New Jersey as a national leader in curbing gun violence.
A primary goal of the HVIP is to link hospitals with community-based organizations that are already working hard to assist victims and prevent the spread of violence. By partnering with community organizations to provide services to victims and families in hospitals following a shooting, the program has shown an ability to reduce the cycle of gun violence when retaliation is most likely to occur and spread.
Democrats in the Senate were able to pass the historic Inflation Reduction Act this week, which lowers the cost of prescription drugs, health insurance, and energy, makes sure that corporations pay their fair share in taxes by establishing a minimum corporate tax, and makes the biggest clean energy investment in history, all while not raising taxes on anyone making under $400,000 by even one cent.
This bill is a major victory for American families and keeps President Biden’s promise of tackling inflation by lowering the deficit and the costs of important goods that people NEED. For example, it caps seniors’ prescription drug spending at $2,000 per year – no matter what.
This is also the largest investment ever in combating the climate crisis and prioritizes our energy security by creating jobs in manufacturing wind turbines, electric vehicles, and solar panels in America — and, ultimately, lowering energy costs for American families across the country.
Senate Democrats put in a great deal of work to get this bill passed, and I am grateful for the time, energy, and dedication shown. I thank Senators Bob Menendez, Cory Booker, and the entire caucus, and we eagerly await for the bill to pass the House and get to President Biden’s desk as soon as possible.
Read more about the Inflation Reduction Act here.
PRESIDENT BIDEN UPDATE
This week President Biden signed the CHIPS and Science Act into law, which will make cars cheaper, appliances cheaper, and computers cheaper. It will lower the costs of everyday goods, create high-paying manufacturing jobs across the country, and strengthen U.S. leadership in the industries of the future at the same time. Companies – including Qualcomm and Micron – are already investing billions of dollars here at home in response to this legislation that will rebuild our supply chains and manufacturing here at home.
The CHIPS and Science Act is exactly what we need to be doing to grow our economy and lower costs right now. By making more semiconductors in the United States, this bill will increase domestic manufacturing and lower costs for families. And it will strengthen our national security by making us less dependent on foreign sources of semiconductors.
The bill also includes important guardrails to ensure that companies receiving tax payer dollars invest in America and that union workers are building new manufacturing plants across the country.
As President Biden said when he signed it into the law, the CHIPS and Science Act is about the story, spirit, and soul of America.
— Chairman LeRoy J. Jones, Jr.
P.S. Don’t forget to RSVP to our Meet and Greet with Congressman Tom Malinowski on August 18 – hosted by our South Asian American Caucus! Find more info here!