First-Time Jobless Claims Hit 770,000, Job Creators Network Reacts
The Department of Labor revealed the number of first-time unemployment claims was 770,000 last week.
“There’s good news and bad news, when it comes to America’s recovery,” said Alfredo Ortiz, President and CEO of the Job Creators Network (JCN). “The good news starts with the faster pace for vaccinations. Every shot in the arm is a shot for small businesses. The faster we can get adults vaccinated, the faster we can get back to normal. There’s additional good news: This week, the House passed a 60-day extension of the Paycheck Protection Program that is providing critical loans to small businesses. The PPP is one of the most successful government programs of all time, and we encourage the Senate to pass the House bill as soon as possible. Unfortunately, all this momentum is threatened by a tax hike that President Biden is considering, according to news reports. President Trump’s 2017 tax cut was the biggest reason for America’s pre-Covid boom. If President Biden guts the 2017 tax law – and raises taxes by the largest amount in three decades – it will short-circuit what could be a fast and far-reaching economic recovery.”
This week, Breitbart published Mr. Ortiz’s op-ed, Biden’s Tax Hike Actions Speak Louder than His Words About Helping Small Businesses. To read it, click here.