{"id":1116309,"date":"2021-12-13T22:58:55","date_gmt":"2021-12-14T03:58:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1116309"},"modified":"2021-12-13T22:58:57","modified_gmt":"2021-12-14T03:58:57","slug":"ortiz-build-back-better-bill-would-further-depress-u-s-labor-force-participation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ortiz-build-back-better-bill-would-further-depress-u-s-labor-force-participation\/","title":{"rendered":"Ortiz: Build Back Better Bill Would Further Depress U.S. Labor Force Participation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fortiz-build-back-better-bill-would-further-depress-u-s-labor-force-participation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1116309&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/New-Hampshire-Job-Center-Hiring-640x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\"><em>Alfredo Ortiz of Job Creators Network <a href=\"https:\/\/thehill.com\/opinion\/finance\/585023-build-back-better-bill-would-further-depress-us-labor-force-participation\">writes<\/a> in The Hill that President Joe Biden\u2019s Build Back Better Act would effectively shrink the already decimated labor force resulting from the pandemic because it offers welfare programs that make it more comfortable to stay home and collect a government check than to go to work.<\/em><\/p>\n<blockquote readability=\"11.304347826087\">\n<p>There are still&nbsp;<a href=\"https:\/\/fred.stlouisfed.org\/series\/PAYEMS\" target=\"_blank\" rel=\"noopener noreferrer\">4 million<\/a>&nbsp;fewer people working today and nearly&nbsp;<a href=\"https:\/\/fred.stlouisfed.org\/series\/LNS15000000\" target=\"_blank\" rel=\"noopener noreferrer\">5 million<\/a>&nbsp;more people out of the labor force compared to February 2020. Biden repeatedly&nbsp;<a href=\"https:\/\/www.politifact.com\/factchecks\/2021\/oct\/22\/joe-biden\/fact-checking-joe-biden-about-job-gains-his-watch\/\" target=\"_blank\" rel=\"noopener noreferrer\">claims<\/a>&nbsp;that he has presided over a record number of new jobs, but in reality he\u2019s only been able to return a fraction of the jobs lost during the pandemic. President Biden and congressional Democrats\u2019 nearly&nbsp;<a href=\"https:\/\/www.crfb.org\/blogs\/permanent-build-back-better-act-could-cost-4-8-trillion\" target=\"_blank\" rel=\"noopener noreferrer\">$5 trillion<\/a>&nbsp;\u201cBuild Back Broke\u201d legislation, currently pending before the Senate, would exacerbate this depressed labor force by expanding and implementing an array of social welfare programs that make it attractive not to work.&nbsp;This reckless spending would also spur more painful inflation, which the Bureau of Labor Statistics&nbsp;<a title=\"https:\/\/www.cnn.com\/2021\/12\/10\/economy\/consumer-price-inflation-november\/index.html\" href=\"https:\/\/www.cnn.com\/2021\/12\/10\/economy\/consumer-price-inflation-november\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.cnn.com\/2021\/12\/10\/economy\/consumer-price-inflation-november\/index.html&amp;source=gmail&amp;ust=1639238225234000&amp;usg=AOvVaw2dKWU_39Q5k9uPUpKcf24Z\">announced<\/a>&nbsp;Friday is already at a 39-year high<\/p>\n<p>. . .<\/p>\n<\/blockquote>\n<blockquote readability=\"10.882096069869\">\n<p>The&nbsp;<a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/5376\" target=\"_blank\" rel=\"noopener noreferrer\">Build Back Better Act<\/a>&nbsp;(BBB), which passed the House of Representatives last month, would further reduce the LFPR by disincentivizing work. The legislation would extend the de facto monthly universal basic income for families. It would significantly expand rental assistance and public housing construction. It includes numerous public health provisions, including increasing ObamaCare marketplace subsidies and expanding Medicaid. It also would broaden food benefits for families, among&nbsp;<a href=\"https:\/\/www.cnn.com\/2021\/12\/07\/politics\/biden-build-back-better-spending-bill\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">other public assistance provisions<\/a>. University of Chicago economist Casey Mulligan&nbsp;<a href=\"https:\/\/committeetounleashprosperity.com\/wp-content\/uploads\/2021\/10\/CTUP_BuildBackBetterPenalties.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">estimates<\/a>&nbsp;the BBB would reduce full-time equivalent employment by about 6 percent \u2014 nearly 9 million jobs.<\/p>\n<\/blockquote>\n<blockquote readability=\"8.7286432160804\">\n<p>These programs would be partly paid for by dramatic tax hikes on successful small businesses to some of the highest levels in the developed world. Even with these tax hikes, the legislation wouldn\u2019t come close to paying for itself as Biden and top Democrats have promised. The nonpartisan Congressional Budget Office estimates the BBB would increase the deficit by&nbsp;<a href=\"https:\/\/www.cbo.gov\/publication\/57627\" target=\"_blank\" rel=\"noopener noreferrer\">$800 billion<\/a>&nbsp;over five years.<\/p>\n<\/blockquote>\n<p><em>Read the rest of the article <a href=\"https:\/\/thehill.com\/opinion\/finance\/585023-build-back-better-bill-would-further-depress-us-labor-force-participation\">here.<\/a><\/em><\/p>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Alfredo Ortiz of Job Creators Network writes in The Hill that President Joe Biden\u2019s Build Back Better Act would effectively shrink the already decimated labor force resulting from the pandemic &#8230;<\/p>\n","protected":false},"author":16,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1116309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1116309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1116309"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1116309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1116309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1116309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1116309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}