WASHINGTON, D.C. – Today, Kentucky Representative John Yarmuth, Chair of the House Budget Committee, released the following statement after the Bureau of Economic Analysis (BEA) released the first estimate for 2021 Q4 GDP growth. The report indicates that GDP grew at a 6.9 percent annualized rate in Q4, bringing the 2021 rate of GDP growth to 5.7 percent – the fastest economic growth in nearly four decades.
“Thanks to the leadership of Democrats in Congress and the White House, America is back. We’ve seen the fastest growth in nearly 40 years and we’re well on our way to a strong recovery. Our response to the pandemic, including the life-saving investments in the American Rescue Plan, has helped ease the burdens on working families, created millions of jobs, and lead to higher wages and more prosperity.
“But our work is not done. Today’s report confirms that we are on the right track and our economy has momentum we can build on – specifically by delivering the forward-looking investments included in the Build Back Better Act and the recently introduced America COMPETES Act. Congress must not squander this opportunity to build a better, stronger, and more secure future for American workers and families.”
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