Congresswoman Jacobs Speaks on Income Economic Inequality On House Floor
Jacobs: “For decades our policies have benefited people like me”
Washington, D.C. - Congresswoman Sara Jacobs (D-CA-53) spoke on income inequality and her personal background on the House Floor Monday evening.
During a Special Order featuring members of both parties on the House Select Committee on Economic Disparity and Fairness in Growth, Congresswoman Jacobs noted, “The most consequential day of my life -- the day that would determine whether or not I grew up with opportunity and privilege -- was the day that I was born. And that’s true for so many kids in America. But unlike the majority of kids who were born in 1989, I was lucky. While some were born into generational poverty, I was born into a family of wealth.”
Congresswoman Jacobs’ remarks on the Floor as delivered:
Thank you, Chairman Himes, for organizing this special hour, and thank you to the Ranking Member.
I welcome our Republican colleagues to the committee.
I know we are going to have some strong debates on this committee — and we should. Because economic inequality is the central issue of our time, and it deserves all of the energy and attention we can give it.
Because we’re at a pivotal moment.
Right now, the bottom 50% of the population holds 2% of the wealth in the United States. The top 1% holds nearly a third of all wealth.
And I have some experience with that.
The most consequential day of my life — the day that would determine whether or not I grew up with opportunity and privilege — was the day that I was born.
And that’s true for so many kids in America.
But unlike the majority of kids who were born in 1989, I was lucky. While some were born into generational poverty, I was born into a family of wealth.
That’s what I did to earn my wealth and my opportunity in life — I was born.
And for decades our policies have benefited people like me.
And that has to change.
Because — in addition to being immoral — economic inequality represents a long-term threat to our international competitiveness, our national security, and the health of our democracy.
I know my colleagues on the other side of the aisle, some of which serve with me on Armed Services, are thinking deeply about how we remain competitive in the international landscape.
But with 140 million Americans who live in households that are low income, low wealth, or one crisis away from economic ruin, that is more difficult.
I represent San Diego in Congress. We are one of the wealthiest counties in the country — we have Fortune 500 companies, we have mansions on the beach — and yet, more than 40% of our kids were living in families experiencing poverty, before the pandemic.
We have got to do better.
That’s why I’m so grateful to be on this committee and that we are taking the time to debate and negotiate the Build Back Better Act, a bill that will make historic investments to rebalance our system, especially for children.
I know our disagreements are real, but I have faith that together we can work to find solutions — like the Earned Income Tax Credit, the Child Tax Credit, Head Start, all of these programs that when they were passed had wide bipartisan support.
So thank you again, Chair Himes, thank you to our Republican colleagues, and I yield back.
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