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Governor Lamont Reminds Connecticut Residents: Low-To-Moderate Income Individuals and Families Are Eligible for Significant Boost in Income Tax Credits This Year

Newly Enacted Rate Change in the Earned Income Tax Credit Comes in Addition to the Recent Cut in Income Tax Rates for Middle-Income Workers

Governor Ned Lamont today is reminding Connecticut residents that thousands of low-to-moderate income individuals and families in the state are eligible to receive a significant boost in tax credits when they file their personal income tax returns this year due to a newly enacted rate change in the Connecticut Earned Income Tax Credit (EITC), which has increased from the most recent rate of 30.5% for the 2022 income year to the new rate of 40% for the 2023 income year.

The rate change – which was enacted as a result of the state budget bill that the legislature approved and Governor Lamont signed into law last year and which also includes several other significant tax relief measures – means that lower-income filers will receive several hundred dollars in additional tax credits this year above what they received the prior year, depending on their income and number of dependents. Typically, more than 95% of filers who receive this credit have families with children.

“Increasing the rate of the Connecticut Earned Income Tax Credit is one of the most impactful provisions in the recently enacted state budget because it will provide direct relief to low-to-moderate income workers who are providing for their families,” Governor Lamont said. “Numerous studies have shown that this tax credit is one of the best anti-poverty tools we can use because it encourages work, boosts economic stability, and uplifts generations to come. Ultimately, these tax credits improve entire communities because these dollars are being invested right back into our local economy through groceries, transportation, clothing, rent, utilities, and other necessary expenses. I want to make sure Connecticut’s working families know about this tax credit and claim it.”

“The Department of Revenue Services is proud to administer the Earned Income Tax Credit, as it provides direct relief to working families across Connecticut,” Connecticut Department of Revenue Services Commissioner Mark Boughton said. “Our dedicated DRS staff are happy to help all taxpayers who qualify for this credit to claim it on their tax returns. Additionally, individuals who qualify may utilize assistance from the Volunteer Income Tax Assistance Program.”

The Connecticut EITC is based on the amount of the federal EITC. It is available to those earning less than:

• $56,838 ($63,698 married filing jointly) with 3 or more qualifying children
• $52,918 ($59,478 married filing jointly) with 2 qualifying children
• $46,560 ($53,120 married filing jointly) with 1 qualifying child
• $17,640 ($24,210 married filing jointly) with no qualifying children

It is estimated that approximately 211,000 households in Connecticut are eligible.

The Connecticut EITC was created in 2011 and has had varying rates over the last decade, including 30% in 2012, 25% in 2013, 27.5% from 2014 to 2016, 23% from 2017 to 2020, and 30.5% in 2021 and 2022.

This new 40% rate makes Connecticut among the top five states in the nation with the largest EITC rates.

EITC rate increase comes in addition to the income tax cut for middle-income households that took effect January 1, 2024

In addition to the rate change in the Connecticut EITC, the state budget bill that Governor Lamont signed last year includes cuts to the state’s income tax rates that are targeted toward providing relief to middle-income households earning less than $150,000 for single filers and $300,000 for joint filers. Those cuts, which went into effect on January 1, 2024, reduced the two lowest rates of the state’s progressive tax structure by:

• Decreasing the rate on the first $10,000 earned by single filers and the first $20,000 by joint filers from 3% to 2%; and
• Decreasing the rate on the next $40,000 earned by single filers and the next $80,000 by joint filers from 5% to 4.5%.

This is the first time that income tax rates have been cut in Connecticut since the mid-1990s. It is also the single largest income tax cut enacted in state history.

The income tax cut is estimated to benefit more than one million tax filers.

Twitter: @GovNedLamont

Facebook: Office of Governor Ned Lamont

Governor Ned Lamont, Lt. Governor Susan Bysiewicz, and Banking Commissioner Jorge Perez today announced the release of three state grants totaling more than $400,000 that will be used to support programs focused on improving the financial wellness of Connecticut residents with a priority focus on women and girls. The grants are being awarded through a competitive RFP process issued by the Connecticut Department of Banking that solicited proposals centered on the grant’s objectives.

“These grants will be used to support programs that empower people to improve their own financial stability through education and training, with a particular focus on our underserved populations, including women and girls,” Governor Lamont said. “I appreciate the partnership of the organizations that are working in our shared goal of helping people get on the road to financial independence and wellness.”

“Empowering women towards financial wellness benefits all of us,” Lt. Governor Bysiewicz, who serves as chairperson of the Governor’s Council on Women and Girls, said. “Decades of research have shown that the benefits of women’s full participation in economies are enormous. By uplifting women and girls, we can increase financial stability in their households, as well as their local communities and broader societies. Through these partnerships, we are increasing the opportunity and accessibility – especially for women and girls – of these essential programs that will help propel them, and their communities, to a better financial future.”

“The recipients have demonstrated that they can effect real change with the money allocated from this grant,” Commissioner Perez said. “I would like to thank all the committee members who thoroughly reviewed each proposal. It was a difficult decision, as all the proposals had merit. While we could not fund all applicants, it is encouraging to see the various organizations working and making a difference each day in people’s lives.”

The Connecticut Department of Banking sourced the grants from settlement funds with various companies. As per those arrangements, a portion of the monies are set aside for financial wellness and investor education. A committee, composed of department staff, representatives of other state agencies, and industry professionals, reviewed 15 responses to the department’s RFP. Consideration was given to organizations, entities, coalitions, and collaborations able to reach and assist underserved communities, with a priority on women and girls, to improve their financial wellness and empowerment.

Each application required a detailed description that included:

• the program’s method of delivery of financial education;
• the targeted demographic of the program;
• information regarding the nature and structure of the program including the programs goals for participants;
• how the proposed program would go beyond what is available and to what extent would the program serve as an innovative and scalable model; and
• how success of the program would be measured and, if available, information pertaining to the success of past programs.

The committee considered the following factors and gave preference to proposals that:

• empower individuals with financial capabilities that help prepare them to meet their future financial goals;
• describe the benefits of saving and checking accounts;
• teach the importance of establishing good credit as a foundation for future financial success;
• encourage individuals to think long-term by teaching investing principles;
• deliver information regarding consumer protection including high-cost loans, frauds/scams, cybersecurity, and identity theft;
• apply knowledge to practical skills and real-life experiences;
• inspire participants to set personal and financial goals and demonstrates how those goals can be achieved
• provide participants with the ability to seek follow-up services; and
• build upon current programs in a manner that is innovative, measurable and scalable.

The following organizations have been selected to receive the grants:

Local Initiatives Support Corporation

Local Initiatives Support Corporation (LISC) will receive a $250,000 state grant to expand seven of its Financial Opportunity Centers, which are located throughout Connecticut. These serve as career and financial coaching service centers that provide three core services to individuals with low-to-moderate incomes: one-on-one employment coaching, one-on-one financial coaching, and access to benefits that help build credit, savings, and assets. The centers also have the opportunity to transition into Bridges to Career Opportunity Centers. These funds will be used to enhance one-on-one financial coaching, and access to benefits that help build credit, savings, and assets.

“LISC Connecticut is excited to receive this support from the Connecticut Department of Banking, which will strengthen our network of seven Financial Opportunity Centers across the state,” Jim Horan, senior executive director of LISC Connecticut, said. “With this award, our clients will receive budget coaching to save $500 over the course of a year, which will be matched two-to-one with Department of Banking funds and support from Liberty Bank. At the end of the year, clients will have $1,500 and improve their credit score.”

The Village for Families and Children

The Village for Families and Children will receive a $103,911 state grant for its Boosting Financial Wellness for Greater Hartford Families project, which will support connection between its Financial Opportunity Center and its family-centered programs based at the Spring Street site in Hartford. The Village’s Financial Opportunity Center helps low and moderate-income adults living in the Hartford area to effectively manage their finances and achieve financial goals. The Village served more than 690 families at the Spring Street site in the most recent program year. Many of these were single-parent, female-led households.

“At The Village, we know that there is a direct relationship between financial health and overall well-being,” Tammy Freeberg, vice president of strategy and planning for The Village for Families and Children, said. “This grant will increase capacity and resources for our Financial Opportunity Center, helping us to empower more families in Greater Hartford with education, coaching, and tools to achieve financial wellness and gain stability in many aspects of their lives.”

United Way of Southeastern Connecticut

The United Way of Southeastern Connecticut will receive a $50,000 state grant for its Path to Financial Wellness program. The mission of this program is to provide an opportunity for BIPOC (Black, Indigenous, and People of Color) and female-led households to engage in financial literacy education on their own time and at their own page, and to provide an opportunity for those individuals to make empowered financial decisions. The program will utilize self-directed e-learning and professional financial coaching to guide participants in gaining financial stability through self-assessment, goal setting, and practical application of financial literacy skills. The grant funding will allow them to provide their program to the Greater New London area.

“United Way of Southeastern Connecticut is excited to bring our Path to Financial Wellness program to New London County,” Dina Sears-Graves, president and CEO of the United Way of Southeastern Connecticut, said. “We are excited to partner with local nonprofits and Chelsea Groton Bank to provide members of our community an opportunity to make empowered financial decisions. This program aims to increase financial stability, focusing on communities that are disproportionately affected by financial hardship including female single-headed households, Black, Indigenous and people of color.”

Three Prize-Winning Students Awarded $20,000; 24 Students Awarded $6,000; Ten Connecticut Schools Also Announced as Recipients of Technology Prizes

State Treasurer Erick Russell, Trustee of the Connecticut Higher Education Trust (CHET), today announced the winners of the 2023 CHET Dream Big! Competition.

Three students were awarded $20,000 prizes and 24 students were awarded $6,000 prizes. An additional 336 students will be awarded $500 prizes this month.

Treasurer Russell also announced ten schools that will receive a $7,500 technology prize to help provide new items like tablets, smartboards, and small electronics for classrooms. Each school in Connecticut represented by at least one entry in the Dream Big! Competition was eligible for a random drawing for these prizes. 

Since 2013, the Dream Big! Competition has awarded over $4.5 million dollars to Connecticut students to help pay for future education expenses. The 2023 competition began on August 1, 2023, and ended on November 6, 2023, and was open to all Connecticut residents in grades K-12.

To enter, students were asked to submit a drawing, short essay or video answering a question focusing on their dreams for the future – dependent on their grade level group, as defined in the competition Official Rules.

From bettering neighborhoods with free sports equipment, improving the environment, helping people with addiction, and working in a soup kitchen to sheltering the homeless, being kind, and collecting donations, winning entries showcased imaginative and innovative dreams for themselves and their communities through essays, drawings, and videos.

“I was so impressed with the nearly 3,000 entries we received from students from across the state for the Dream Big! Competition,” said Treasurer Russell. “These students’ entries were so creative and show that they are truly committed to their goals and their communities. I congratulate all our winners and look forward to seeing all they do in the future.

“I also want to congratulate the ten schools that won technology prizes,” he continued. “We are grateful for your encouragement of students to Dream Big.”

First-prize winner in the kindergarten through fourth grade group, Flynn J. of Watertown, wants to organize a community garden at his school to benefit people in need. “Each week, a different grade would be responsible for caring for the garden. After each grade has improved the garden, we could harvest the vegetables and divide them into groups to sell 50% and donate 50%,” he wrote.

Grand-prize winner in the fifth through eighth grade group, Zia V. of Manchester, created a detailed and colorful collage showing different ways someone could improve the lives of others. Examples include helping the less fortunate, being an active listener, becoming a teacher, supporting people with mental health needs, and protecting the Earth. 

First-prize winner in the ninth through twelfth grade group, Layan J. of Farmington, wrote about a nonprofit organization she created to benefit people in Yemen, her mother’s home country. “After receiving a tremendous amount of support from the public, (my organization’s) outreach increased dramatically, ultimately allowing me to acquire a greater sense of purpose,” she wrote. “As I transition into the next chapter of my education, I plan to pursue political science in order to expand my ability in solving international issues.”

For more information about the CHET Dream Big! Competition and the winners’ vision, go to www.chetdreambig.com.

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It is important that we maintain strong American steel companies powered by American steel workers. I told our steel workers I have their backs, and I meant it. U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated..

Governor’s Bill Approved by General Law Committee Last Week, Now Awaits Further Action by the Full Legislature 

Governor Ned Lamont is urging the Connecticut General Assembly to approve legislation he proposed for consideration this session that will enact a new consumer rights law requiring upfront pricing on all event tickets, hotel and short-term rental accommodations, and food and beverage sale and delivery services, and accordingly prohibit the increasingly common practice of adding unexpected, mandatory hidden fees that are tacked on at the end of a consumer’s transaction.

These hidden fees, frequently known as junk fees, are often vaguely labeled as a “service fee” or “convenience fee.” It is estimated that they cost Connecticut families thousands of dollars each year and they disproportionally impact low-income families who may lack the time, resources, or financial literacy to filter through these fees or search for a competitive price.

The governor’s proposal is Senate Bill 15, An Act Requiring Fee Disclosures. It was unanimously approved last week by the members of the General Law Committee, and it now awaits further action by both chambers of the General Assembly. The governor is urging them to act on the legislation so that he can sign it into law.

“We are increasingly seeing situations in which a product or service is being advertised at a low price and then when a consumer gets to the very end of their transaction that price suddenly increases with any number of mandatory fees being tacked on, and frequently consumers will complete their purchase without even realizing the price jumped until well after it has already been finalized,” Governor Lamont said. “This proposal simply says that the price of a product or service cannot be misrepresented to consumers. Upfront pricing will ensure that consumers are able to make well-informed purchases, and it levels the playing field among competitors in these industries by requiring that they all be honest and transparent on the costs of their products and services from the get go.”

Attorney General William Tong and Consumer Protection Commissioner Bryan T. Cafferelli also support the enactment of this law, saying that if it is approved by the legislature it will be a major win for Connecticut consumers.

“Junk fees tacked on at the last minute add up to serious costs for consumers,” Attorney General Tong said. “These hidden charges make it next to impossible to compare costs and find affordable deals. Everyone hates these bait and switch charges, and I fully support the governor and the legislature in strengthening our state laws to ensure fair, transparent pricing.”

“Companies have increasingly found ways to gain more money from consumers, often by tacking on superfluous ‘service fees’ just when you’re ready to hit the final purchase button on an event ticket, hotel room, or food purchase,” Commissioner Cafferelli said. “By waiting until the last second to add on these junk fees, companies make it difficult for consumers to shop around, price compare and find the best deal. This legislation promotes open and honest transactions in the marketplace and raises consumer confidence in our retail and services industries, and putting money back in people’s pockets.”

This proposal builds on a provision included in Public Act 23-98, which the General Assembly approved and Governor Lamont signed into law last year. That law, which took effect on October 1, 2023, requires upfront disclosure of pricing for the purchase of tickets to live events, however some consumers have noted that since its enactment certain ticketing platforms continue to run advertisements or otherwise not disclose the full price of tickets until the consumer begins a transaction by selecting the tickets they want to purchase. Senate Bill 15 closes this loophole by requiring ticket platforms to disclose the full price of tickets beginning at the moment they are first advertised, displayed, or offered, even prior to the consumer selecting a ticket.

President Joe Biden, the Federal Trade Commission, and the Consumer Financial Protection Bureau recently announced similar efforts to crack down on junk fees on a nationwide level. Governor Lamont applauds these efforts, and notes that until those federal rules are able to take effect, the states must act to protect consumers from deceptive pricing.

The General Assembly must act on the proposal prior to the adjournment of the regular session, which will occur on May 8, 2024.

HARTFORD, CT) – Governor Ned Lamont today announced that he has signed into law legislation approved this afternoon by the Connecticut General Assembly that allocates $17 million to cover a gap in federal assistance to the state this winter from the Low Income Home Energy Assistance Program (LIHEAP).

Federal LIHEAP money is used by the state to fund the Connecticut Energy Assistance Program (CEAP), which is administered by the Connecticut Department of Social Services and helps low-income residents afford to heat their homes during the winter months. This year, Congressional Republicans blocked consideration of President Joe Biden’s request for additional funding for LIHEAP, rolling this aid back to the lowest levels since the winter of 2018-2019.

The legislation signed into law today by Governor Lamont designates $13.5 million in supplemental aid for CEAP this winter season, and $3.5 million for Operation Fuel, a nonprofit that provides energy assistance support to Connecticut residents.

“The federal LIHEAP program is an important safeguard to assist our most vulnerable residents, seniors, and families with children,” Governor Lamont said. “Working with the state legislature, we have identified one-time funds that can be used to supplement the decline in assistance that our state received this winter. The Connecticut Department of Social Services and Operation Fuel will work to ensure this funding gets to those in need. I continue to urge bipartisan leaders in Congress to follow the example of what Connecticut’s Congressional delegation have repeatedly demanded – more federal funding for LIHEAP next winter.”

The legislation is Senate Bill 111, An Act Concerning Home Energy Assistance. It was approved in the Senate by a vote of 35 to 0 and in the House of Representatives by a vote of 147 to 0. The bill took effect immediately upon being signed by the governor this afternoon

Vice President Kamala Harris met today with His Majesty King Abdullah II of Jordan at the White House. The Vice President and the King discussed latest developments in Gaza and the Vice President thanked the King for providing vital humanitarian assistance to Gaza, including the eleven airdrops of medical supplies to the field hospital that Jordan has established in Gaza. The leaders also discussed the situation in Rafah. The Vice President reaffirmed the Biden-Harris Administration’s position that a military operation in Rafah should not proceed without a credible and executable plan for ensuring the safety of and support for the more than one million people sheltering there. 

 

 Photo Jordan news 

Governor Lamont Orders Executive Branch State Office Buildings Closed to the Public Tuesday Due to Winter Storm

(HARTFORD, CT) – Governor Ned Lamont today announced that he is ordering all State of Connecticut executive branch office buildings closed to the public on Tuesday, February 13, 2024, due to the significant winter storm that is anticipated to impact the state throughout the day.

For the duration of this storm-related closure, the governor is directing that:

1. All level 1 executive branch state employees should report to work as scheduled or directed;
2. All level 2 executive branch state employees whose job duties can be completed remotely should telework, or they may request use of accrued leave; and
3. All level 2 executive branch state employees whose job duties cannot be completed remotely should not report to work in-person.
4. 

The terminology used for state employee classifications was established through an executive order issued in 2018. Level 1 state employees include those who were previously designated as “essential” based on their respective job duties. Level 2 state employees include those who were previously designated as “nonessential.”

The governor’s storm-related directive applies to executive branch offices. Decisions regarding the operations of offices within the judicial and legislative branches are made by the leaders of those respective branches of state government.

“The timing of winter storm is of particular concern, especially considering that snowfall rates are expected to be heavy during the morning rush hour commute and continue through the afternoon,” Governor Lamont said. “Out of an abundance of caution, I am directing all executive branch state office buildings closed to the public on Tuesday. Level 2 state employees who work in those buildings should stay home, and those who can complete their jobs remotely should work from home for the day. I strongly encourage everyone in Connecticut to stay off the roads on Tuesday unless absolutely necessary, particularly during the height of the storm so that plow crews can clear the roads and keep everyone safe. Please check on your neighbors, especially those who are elderly or need assistance, to make sure they are safe.”

The Connecticut Department of Transportation has more than 600 trucks and more than 900 drivers prepared to respond to the storm and clear the roads.

For emergency management news and resources, visit the state’s CTPrepares website at ct.gov/ctprepares. That website also contains a useful list of contact information for each of the state’s utility companies, should a customer experience an outage.

Twitter: @GovNedLamont

Facebook: Office of Governor Ned Lamont

Governor Lamont Implements Ban on All Tandem Tractor Trailers and Empty Tractor Trailers Ahead of Winter Storm

Ban on All Limited Access Highways Takes Effect at Midnight 12:01 am Tuesday and Remains in Effect Until Further Notice

Governor Ned Lamont today announced that due to the severe winter storm that is anticipated to impact Connecticut, he has signed an order banning all tandem tractor trailers and empty tractor trailers from traveling on all limited access highways statewide effective at 12:00 a.m. on Tuesday, February 13, 2024, and remaining in effect until further notice.

This travel ban on tandem tractor trailers and empty tractor trailers is being implemented in coordination with the neighboring states of New York and Massachusetts, who are enacting similar bans on their roads during the storm.

Limited access highways are those designed to carry large volumes of traffic at generally high speeds and have controlled access with on and off ramps. (For a list of limited access highways in Connecticut, click here.)

“During the peak periods of the storm, we are anticipating treacherous conditions that will make travel very difficult,” Governor Lamont said. “We’ve consulted with our neighboring states and have decided as a region that it’s in the best interest of safety to enact this travel ban on tandem tractor trailers and empty tractor trailers during the duration of the storm.”

The Office of the Governor will send out a notification when it has been determined when this ban will be lifted.

**Download: Order implementing a travel ban on all limited access highways in Connecticut for tandem and/or empty tractor trailers

Twitter: @GovNedLamont

Facebook: Office of Governor Ned Lamont

Mayor Justin Elicker with an important message for New Haven residents about the snowstorm headed our way.  Por favor espere para escuchar este mensaje en español. 

The National Weather Service has issued a Winter Storm Warning for our region beginning tonight and through most of the day Tuesday with a projected snowfall of 6 to 10 inches. 

In order to help ensure that our snowplows can quickly and efficiently clear city streets, a citywide parking ban will be in effect beginning tonight at 12 midnight. In residential areas, there is no parking on the odd-numbered side of the streets. On all posted snow emergency routes and in the downtown area, there is no parking on both sides of the street. There is also no parking within 25 feet of a fire hydrant, intersection or bus stop.   

For residents in need of an off-street parking option, there are multiple free and low-cost options available, including selected school parking lots, Yale University parking lots and downtown parking garages. The full list is available on the city’s website at newhavnenct.gov/snow.    

For individuals who might need a warm and safe place to stay, our walk-in winter Warming Centers will be open with extended hours, beginning Monday 7 pm and operate continuously through Wednesday 

7 am. The list of warming centers can also be found on the city's website or by calling 2-1-1. 

Finally, please stay off the roads if you can, please shovel your sidewalks so there is a path at least 3 feet wide to ensure wheelchair and stroller access, and please check on your family, friends and neighborhoods who might need a helping hand. Finally, as always, please call 9-1-1- for any life-threatening emergencies. 

Thanks for your cooperation everyone, stay safe and enjoy the snow! 

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Operation Fuel, Inc.

New Haven home incentive program

THE PRESIDENT:  Thank you, very much.  (Applause.)  Folks, look, I was — where — I’m going to stand in the middle here so I can get both sides.
 
Folks, you know, my dad used to have an expression, for real.  He’d say, “You know, a job is about a lot more than a paycheck.  It’s about your dignity.  It’s about being treated with respect.  It’s about making sure that people know what you do matters.  It’s about being able to look your kid in the eye and say, ‘Honey, it’s going to be okay,’ and mean it.” 
 
I have a reputation that I’m proud of: being the most pro-union president in American history.  And there’s a simple reason for that.  When unions are doing well, everybody does well.  Not a joke.  (Applause.)  By the way, that’s a fact.
 
I had the Treasury Department do a study: What are the impact of union movement?  What’s the impact?  The impact is when you do well, everybody does better.  Workers that aren’t even members of a union are getting raises because of the things you guys have done and the work you’ve done and organizations.
 
So, I came to say thank you, thank you, thank you.  And we’re just getting started.  We’ve got over 260- — 300- — 260,000 jobs — new jobs just here in the state of Nevada.
 
Come here, Congresswoman. 
 
REPRESENTATIVE TITUS:  (Inaudible.)
 
THE PRESIDENT:  By the way, I’ve got a passport with me because she gave me — this is her district here — she gave me a passport to come here.
 
But all kidding aside, look, there’s a simple proposition.  For the longest time — and I know I don’t look — I know I only look like I’m 40.  (Laughter.)  Times two.  (Laughter.)
 
But, look, one of the things that I’m — I was raised in a family — we weren’t poor, but we weren’t — we were middle class and sometimes lower middle class.  We lived in a three-bedroom, split-level home with four kids and a grandpop.  It was a safe neighborhood, but it was — it was — you know, we didn’t have the money to make it to college.  We had to go borrow the money or work through college, that kind of thing. 
 
We didn’t — and I’m the first in my family to go to college — the first Biden to go to college.  And it’s because a lot of people made sacrifices for me to get there, along with my sister.  And my sister is a hell of a lot brighter than I am.  (Laughter.) 
 
My sister was three years younger than me.  She’s now 23 years younger than me.  I don’t know how the hell that happened.  (Laughter.)  And she’s managed all my campaigns. 
 
We got — we went to the same university at the same time, two years apart.  I graduated.  She graduated with honors.  (Laughs.)  Anyway.
 
The point is this: I’ve never believed that trickle-down economics is the way to build an economy, meaning that if the very weal- — and, by the way, if the very wealthy do well, that’s good by me, as long as they start paying their taxes.  That’s a different issue.  But anyway.  (Applause.)
 
But all kidding aside, the idea was the trickle-down economy would work because what would happen is you would have the very wealthy doing well and that would all drop down to the middle-class folks and poor folks.  I’ve never believed that.  Not a lot dropped on my dad’s kitchen table growing up.
 
So, I’ve always believed that you build the economy from the middle out and the bottom up.  That way, the working-class folks have a shot and the middle class grows.
 
And guess what?  You’ve heard me say it before, and I mean it.  And when I first said it, everybody thought I was going to get in real trouble, but I didn’t care.  Wall Street did not build America.  The middle class did — built America, and unions built the middle class.  (Applause.)  There would be no middle class without the union.  No, I mean that from the bottom of my heart.
 
And, by the way, even the business folks in — on Wall Street and other places are beginning to understand that.  There’s much less resistance now to deal with these issues. 
 
And so, we’re just on a roll here.  We’ve created over 15 million brand new jobs just in three years — more than any president has in American history in that period of time.  We’ve — we’ve actually made sure that we have all kinds of additional help. 
 
People are getting the paychecks for — Hispanics at 4- — 4- — they’re making 40 percent more money than they did before we started, in terms of wealth.  African Americans, 50 percent.  But this — it’s about everybody.  It’s not about just one group of people.  Because when we all do well, everybody does well.  I really mean it.
 
So, I came to say thank you — not just thank you for the support you’ve given me the last time out and this time, but thank you for having the faith in the union.  Thank you for continuing to push it because this really matters.  It matters, it matters, it matters.
 
And so, like I said, my dad would say, “It’s all about dignity — being treated with dignity.”  My dad would no more walk by the — the shoeshine guy in the Hotel DuPont, where the DuPont company was, and — or the — if he saw the chairman of the board, he’d say hi.  But he’d walk over and make sure he said hi to the shoeshine guy too, because that’s what we’re all about.  That’s what built America. 
 
And b- — we’re coming back.  We really are.  We have the best economy in the world.  Inflation is coming down.  There are still too expensive — too much is at expense and a little bit of corporate greed going on, too, nationwide.  (Laughter.) 
 
There’s — by the way, there’s a little article written — you ought to — I’ll get you a connection to it.  It’s called — it’s about Snick- — what’s happening with the Snickers bars.
 
Snickers bars — you know that candy? 
 
AUDIENCE MEMBERS:  Yeah.
 
THE PRESIDENT:  Well, they haven’t raised the price of a Snickers bars.  They just took 10 percent of it out.  (Laughter.)  Oh, no, no.  It’s a lot smaller.  So, that’s how they’re making more money.
 
But, anyway, I thank you for all you do and the way you make people happy.  And I know it’s not always easy.  So, thank you, thank you, thank you, thank you.  (Applause.)
 
11:28 A.M. PST   
 

Our immigration system has been broken for decades. That is why President Biden and I have spent the last three years putting forward solutions to fix it and address the root causes of migration.

On the first day of our Administration, we sent a comprehensive immigration reform bill to Congress that included an increase in funding for border security and a pathway to citizenship for immigrants, such as Dreamers who have been here for years.

We have partnered with countries in the Western Hemisphere to address global pressures that are forcing people from their homes, and worked with the private sector to promote investment in Central America. Last October, as part of our national security supplemental request, we asked for $14 billion for border security, which would increase personnel and technology to secure the border and provide assistance to cities to manage the influx of migrants.

At each step, we have been clear: Congress must act. Unfortunately, we have too often been met with those who sought to play political games instead of participating in solutions.

For the past two months, President Biden, members of our Administration, and bipartisan Senate negotiators have worked together. Thanks to their collaboration, additional solutions are now at hand. Congress must quickly pass this agreement.

This package will also ensure that the United States can continue to fulfill its role of global leadership by supporting the people of Ukraine in their brave fight against unprovoked Russian aggression; providing Israel what it needs to defend itself against Hamas terrorists; ensuring life-saving humanitarian assistance to the Palestinian people; and strengthening our allies and partners in the Indo-Pacific.

This agreement on border security and immigration does not include everything we have fought for over the past three years — and we will continue to fight for these priorities – but it shows: we can make the border more secure while preserving legal immigration, consistent with our values as a nation.

Let us remember: we are a nation of immigrants. Immigrants have always helped strengthen our country, grow our economy, and drive innovation. We know that in America, diversity is our strength. So rather than politicize this issue, let us all address it with the urgency and seriousness it requires.

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Image courtesy Collab New Haven

Collab is taking applications for its Spring 2024 Business Accelerator Program. This free, 12-week course offers education, mentoring, and technical help to entrepreneurs who want to build unique businesses and create positive change. 

Please email with questions, or visit Collab New Haven to apply by the March 10 deadline.