PENNSYLVANIA — In Pennsylvania and across the country, President Biden’s successful economic plan has brought our economy roaring back from the COVID crisis. Cities, towns and families across the commonwealth are seeing economic relief thanks to the American Rescue Plan, expanded Child Tax Credit, and soon the historic Bipartisan Infrastructure Deal — all of which are causing retail sales to soar, jobless claims to hit pandemic era lows, and small businesses to stay open thanks to pandemic relief grants.
Take a look at the most recent headlines:
Mastercard SpendingPlus: Child Tax Credit Helps Lift US Retail Sales Growth to 10.9%* in July
- “With more cash in hand—fueled in part by the Child Tax Credit and pent-up savings—consumers drove U.S. retail spending growth excluding automotive and gasoline to +10.9% compared to July 2020. This is nearly quadruple the average growth in the month of July**.”
The Morning Call: Lehigh County opens $10 million round of COVID relief grants for small businesses
- “Through a partnership with the Greater Lehigh Valley Chamber of Commerce, the county is offering grants of up to $15,000 to businesses employing fewer than 100 people. The funding is being made available through the American Rescue Plan Congress passed back in March.”
Politico: U.S. jobless claims down 14,000 to 385,000 as economy rebounds
- “The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus recession.”
Reading Eagle: Millions of COVID stimulus dollars now in bank accounts of Berks municipalities
- “Berks County boroughs and townships have been awarded nearly $32 million in American Rescue Plan funds to be paid out this summer and next summer. The first allotments of cash, about half of the relief funds, have recently started arriving in municipal bank accounts.”
Washington Post: For first time, average pay for supermarket and restaurant workers tops $15 an hour
- “Overall, nearly 80 percent of U.S. workers now earn at least $15 an hour, up from 60 percent in 2014… For years, low-paid workers fought to make at least that much. Now it has effectively become the new baseline.”
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