Administration of Joseph R. Biden, Jr., 2021

March 5, 2021

The President. Welcome, folks. Can you hear me in my mask?

Q. Yes, sir.

The President. All right. We're about to have an economic meeting, but I want to make a few very brief comments.

Today's jobs report shows that the American Rescue Plan is urgently needed, in our view.

Now, our economy still has 9.5 million fewer jobs than it had this time last year. And at that rate, it would take 2 years to get us back on track. We have 1 million fewer educatorsâ1 million fewer educatorsâthan we did this time last year. We've lost 400,000 small businesses. All those empty storefronts aren't just shattered dreams, they're warning lights that are going off in State and local budgets that are being stretched because of the lack of tax revenue.

And some of last month's job growth is a result of the December relief package. But without a rescue plan, these gains are going to slow. We can't afford one step forward and two steps backwards. We need to beat the virus, provide essential relief, and build an inclusive recovery.

People need the help now. In less than 2 weeks, enhanced unemployment benefits will begin to expire for 11 million people. At least 7 million kids don't have enough food to eat on a regular basis. Thirteen million people are behind in their rent.

And the rescue plan is absolutely essential for turning this around, getting kids back to school safely, getting a lifeline to small business, and getting the upper hand on COVIDâ19. That's what we're going to be talking about now.

So I thank you all for coming on in. Thank you.

Q. Thank you, Mr. President. Mr. President, when will you unveil your Build Back Better plan?

NOTE: The President spoke at 2:25 p.m. in the Roosevelt Room at the White House. In his remarks, he referred to H.R. 1319. Also participating in the meeting were Vice President Kamala

D. Harris, National Economic Council Director Brian C. Deese, and Chair of the Council of Economic Advisers Cecilia E. Rouse.

Categories: Addresses and Remarks : Secretary of the Treasury Yellen, meeting with President. Locations: Washington, DC.

Names: Yellen, Janet L.

Subjects: Business and industry : Small businesses, promotion efforts; Diseases : Coronavirus, domestic prevention efforts; Economy, national : Strengthening efforts; Education : Schools, efforts to reopen; Employment and unemployment : Job creation and growth; Employment and unemployment : Unemployment insurance; Legislation, proposed : American Rescue Plan Act of 2021; Treasury, Department of the : Secretary.

DCPD Number: DCPD202100203.

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