By the Numbers: President Biden’s Invest in America Agenda is Delivering for New Mexicans

Jun

2023

PRESS RELEASE

By the Numbers: President Biden’s Invest in America Agenda is Delivering for New Mexicans

New Mexicans Are Seeing Historic Job Growth Under the Biden-Harris Administration

The Biden-Harris administration’s Investing in America Agenda – including the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act – is delivering historic results for New Mexicans. Under President Biden’s and Democrats’ leadership, New Mexico is seeing steady and stable economic growth with good-paying jobs, more manufacturing, and small businesses booming – and working families are saving money as a result.

“President Biden and New Mexico Democrats at every level continue delivering historic economic progress and building an economy that creates jobs and helps working families get ahead. Our economy isn’t just recovering – it’s booming, and families across New Mexico are benefitting while MAGA Republicans do everything in their power to undermine these gains,” said Democratic Party of New Mexico Spokesperson Daniel Garcia. “President Biden and Vice President Harris are helping our communities get ahead, and it’s never been more clear – we must re-elect them to finish the job.”

Under the Biden-Harris Administration:

Private companies have made $479 billion so far in commitments to invest in America’s 21st century industries, including $214 billion for semiconductors & electronics and $137 billion for EVs & batteries.
Over $220 billion has been directed to public infrastructure during the Biden Administration, including $156 billion for transportation infrastructure, like roads and bridges, and over $24 billion for clean water infrastructure.
3.7% national unemployment rate, a historic low, with 13.1 million new jobs created.
13 million jobs created with inflation down for 11 straight months, bringing it to a 2-year low.

And here’s a look at just some of the ways President Biden’s Invest in America agenda has delivered for New Mexico:

$3 billion in public infrastructure investment directed to New Mexico including $1.3 billion for transportation infrastructure like roads and public transit and $900 million for clean water infrastructure.
3.5% unemployment rate and 80,000 new jobs created in New Mexico.
164,000 New Mexico households received affordable, high-speed internet through the Affordable Connectivity Program since President Biden took office.
323,900 New Mexico seniors and other Medicare Part D beneficiaries will save on prescription drug costs because of President Biden’s $2,000 yearly cap on out-of-pocket prescription drug costs, a $35 monthly cap per insulin prescription, and free vaccines.

Visit Invest.gov for more statistics on how President Biden’s Invest in America Agenda has delivered for New Mexicans.