Nearly two-thirds of women are breadwinners or co-breadwinners for their families, so it's critical that any plan for recovery and job growth include opportunities for women. To create jobs and give families the help they need as we continue to recover from the recession, the President has unveiled the American Jobs Act—nearly all of which is made up of ideas that have been supported by both Democrats and Republicans, and that Congress should pass right away to get the economy moving now.
What the American Jobs Act Will Do
- Help women and families keep more of what they earn: The President is proposing to extend the payroll tax cut in 2012, which will benefit an estimated 77.9 million women in the workforce. A household with $38,000 in income would typically pay about $2,350 in Social Security taxes. By expanding the payroll tax cut, that household will pay $1,100 less.
- Offer aid to women looking for work: The plan will extend unemployment insurance, preventing 2.6 million women from losing their benefits. A new Pathways Back to Work initiative will provide job opportunities and work-based training to hundreds of thousands of low-income women.
- Support women-owned small businesses: The President's plan includes administrative, regulatory and legislative measures to change the way the government does business with small firms, helping women-owned small businesses access the capital they need to expand and hire more employees.
- Retain teachers and improve our country's schools: President Obama's plan would prevent up to 280,000 teacher layoffs. Those layoffs would disproportionately impact women, who make up about 78 percent of pre-K-to-12 teachers nationwide. The plan also includes programs to modernize at least 35,000 schools, as well as revitalize communities hit hardest by foreclosures and expand investments in roads, rail, transit, and airports.
Like all of the measures in the American Jobs Act, these initiatives will be fully paid for as part of the President's long-term deficit reduction plan. The President's detailed deficit reduction plan will pay for every penny of the American Jobs Act.