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Majority Leader Schumer Floor Remarks On The Democratic Agenda Delivering For The American People

Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the improved economy under Democratic leadership. Below are Senator Schumer’s remarks, which can also be viewed here:

We are not even a month into 2024, and a new pattern is emerging: Americans are feeling more and more optimistic about the economy.

Last week, a report by the University of Michigan showed that consumer sentiment – how consumers feel about the economy – surged by 29% over the last two months, the biggest two-month increase in over three decades, in over thirty years.

Higher consumer sentiment means Americans have more money in their pockets and are feeling better about their financial future.

That is precisely what the Democratic agenda is all about: lowering costs, increasing wages, fueling economic growth.

That’s why Democrats passed historic legislation like the Inflation Reduction Act, the CHIPS and Science Act, the Infrastructure Law, and more.

When you pass an ambitious agenda like the one the Democrats have passed under President Biden, it can take some time for the effects to take hold. But by now, the signs are getting clearer and clearer: under President Biden, under Democratic leadership, the country is on the right track.

Real wages are rising. In fact, paychecks have outpaced inflation over the past year, meaning peoples’ paychecks are going further.

Inflation is cooling, down now to 3.4%. When we passed the Inflation Reduction Act, it was over 8%.

Unemployment is falling. The economy created 2.7 million new jobs last year, more jobs than any year of the Trump Administration.

And manufacturing investment levels are at an all-time high, again more than double the peak of the Trump Administration.

That’s the difference between Democratic and Republican leadership: when Democrats were elected into office, we passed legislation to lower costs, to bring American manufacturing back, to lower prescription drug costs – which is already happening – and invest in science and innovation.

But what about the hard-right? What about what's going on with our Republican colleagues?  

Well, look at what they spend time talking about: shutting down the government. That's what the hard-right does. We're getting things done for the American people, they're talking about shutting down the government. Pushing America towards default. Amazingly, the hard-right, which has a lot of sway in the House and too much in the Senate, said default would be a good thing. Attacking a woman’s right to choose. Wasting time on sham impeachments. And drastic cuts to veterans’ aid, nutrition programs, education, federal law enforcement. No wonder some Republicans are so concerned they have no real accomplishments to show the American people.

The difference, frankly, is night and day: Democrats are focused on lowering costs, more jobs, and more money in people’s pockets, but the hard-right is consumed by chaos, bullying, cutting vital investments, making things worse. They want to make things worse. Somehow, that’s their credo. The Republican front runner for president has made it abundantly clear that he is not running on making people’s lives better, but rather on airing his personal political grievances, as we saw in last night's so-called victory speech.

So, we still have a long way to go to make our economy work better for families, but the evidence is growing that under President Biden, we are headed in the right direction. And Americans are seeing it for themselves.