In the News
How Biden’s Economic Plan is Working for Florida
Thanks in part to President Biden and Democrats’ economic plan, Florida unemployment is down, we’re creating jobs, and our country is in a good position to fight inflation. That’s no thanks to Republicans like Ron DeSantis and Marco Rubio who opposed the American Rescue Plan and would rather try to further their political careers by helping their ultra-rich friends than by delivering real economic results for the American people.
Here are five key points about Florida’s economy and how we got here:
1) President Biden and Democrats have delivered one of the strongest job markets in Florida history
When President Biden took office, Florida was flailing under Ron DeSantis’ leadership with a 6% unemployment rate. Thanks in large part to President Biden and Democrats’ American Rescue Plan, we have added 632,800 jobs since then, and the unemployment rate has dropped to just 3%. That is despite the fact that every single Florida Republican in Congress opposed the critical relief package.
2) After shrinking in 2020, Florida’s economy is growing fast
In the fourth quarter of 2021, Florida’s real GDP grew 7.5% annually – a stark contrast with 2020 when the state’s GDP actually decreased by 1.8%.
3) Democrats are helping small business owners get started while Republicans have a plan that could raise their taxes
During President Biden’s first year in office, Floridians applied to start more new small businesses than any other year since 2005. Meanwhile, Rick Scott and Republicans have a plan that could raise taxes on 56.8% of all Florida small business owners, and 82.6% of small businesses owners making less than $50,000 per year. On average, the small businesses owners affected by this plan could see their taxes go up by $1,400.
4) President Biden and Democrats’ American Rescue Plan is lowering poverty in Florida
Thanks in large part to Democrats’ American Rescue Plan, poverty in Florida was projected to decrease from 17.1% in 2018 to 10.9% in 2021.
5) Democrats are taking action to address inflation
To help drive down costs, President Biden has authorized unprecedented releases from the U.S. oil reserves and House Democrats have passed legislation that would prevent price gouging on gas, even though Republicans all voted against it. Meanwhile, President Biden’s Bipartisan Infrastructure Law and the American Rescue Plan are continuing to create jobs and lower costs on everything from child care to high-speed internet.
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