Growing our Economy and the Middle Class
Congressman Ted Deutch’s economic priorities in the 115th Congress include promoting equal opportunity for all Americans and preparing the United States to compete in the 21st century. Ted has consistently spoken out against the partisan dysfunction and extremism that has gripped Washington in recent years and only jeopardized our economic recovery.
Instead of letting the government shutdown or nearly defaulting on the full faith and credit of the United States, Ted believes that Congress must work with the President to advance economic solutions with strong support from Americans across the political spectrum.
According to the Council on Economic Advisors, our federal budget deficit has dropped from 9.8 percent of GDP in Fiscal Year 2009 to just 2.8 percent in Fiscal Year 2014. This deficit reduction is a result of several factors, including budget caps signed into law by President Obama, a repeal of the Bush-era tax cuts for families earning more than a half a million dollars a year, cost-savings delivered by the Affordable Care Act, and healthier tax revenues thanks to consistent private sector growth.
With record levels of deficit reduction in place, Ted believes it’s time for Congress to refocus on the deficits that confront working families in their everyday lives. Though the stock market may have tripled since 2009 and unemployment has hit a six-year low, recent data from the Census Bureau indicates that the median inflation adjusted income in America has failed to grow since 1989.
Ted supports a legislative agenda focused on growing the paychecks of low and middle-income Americans, closing the wage gap among men and women, helping families achieve better work-life balance, and boosting job-creating investments in public education, transportation and infrastructure, renewable energy, and government-funded medical and scientific research. He also supports legislation aimed at reducing poverty, hunger, and homelessness, and promoting criminal justice reforms vital to restoring opportunity in America’s most impoverished communities.