The Build Back Better Act will fund key Commerce initiatives and allow more Americans to fully participate in the economy thanks to critical investments in our care economy.
Today, U.S. Secretary of Commerce Gina M. Raimondo issued the following statement following House passage of President Biden’s Build Back Better Act:
“This week, President Biden made history by signing into law the largest investment in our nation’s infrastructure since the construction of America’s interstate highway system. And today, we take another important step in making the investments needed to transform our nation and allow our country to better compete on the world stage.
“By passing and implementing President Biden’s full agenda, we can better complement the investments we are making in our nation’s roads, bridges, and universal broadband with investments that enable all Americans to participate in the economy. From providing child care and universal pre-k to expanding health care coverage and reducing the cost of energy, the Build Back Better Act will make it easier for millions of Americans to return to the workforce after the COVID-19 pandemic while also reducing inflationary pressures and getting our economy back up to full speed. Investments in clean tech and innovation will also help us create millions of jobs in industries of the future while allowing America to lead once again in the race to address the climate crisis. This is a historic piece of legislation that will improve the lives of millions of American families and will better position us to compete for generations to come.
“This critical legislation also provides billions of dollars in funding for key Department of Commerce equities. Thanks to this bill, the Department’s National Oceanic Atmospheric Administration can continue to expand its tools to combat climate change; the Minority Business Development Agency will press forward promoting the growth, development, and resiliency of minority-owned businesses—now as a permanently authorized agency; and our Economic Development Administration will further support economic recovery and domestic competitiveness through economic growth clusters and dedicated funding for economically distressed communities. The Build Back Better Act also delivers billions of dollars in resources to increase supply chain resilience so that needed supplies meet today’s demands with a view towards bringing down prices.
“I am thankful for leadership in the House for passing both the Bipartisan Infrastructure Law and the Build Back Better Act. I am confident that the Senate will meet this moment so that we can build our economy back stronger, fairer, and even better than it was before so that more Americans can participate in what has made this country what it is – a real shot of realizing the American Dream.”