Key Takeaways
More money is going into American families’ pockets and our communities than before the pandemic
Rising wages outpaces inflation, creating more real earnings
Charitable giving is up 25%
“Where your treasure is, there your heart will be also” (Matthew 6:21)
Through a rise in charitable giving and sound economic policy, Americans are putting their money where their heart is - into strengthening our families and communities.
The economic landscape in America has shown remarkable resilience and growth. The United States has emerged as a frontrunner in Covid recovery among other advanced economies with inflation at the lowest rate among other advanced economies after falling 11 consecutive months. This financial rebound has been reflected in rising wages outpacing inflation, empowering families to invest in what truly matters to them.
As prices for food and gas drop and people have more money in their pockets, Americans are showing that they are eager to pay it forward. Charitable contributions have increased by 25% from levels seen before the pandemic. Covid reminded us of the values of community, remembering the least and last, and what we can accomplish together. As Americans feel more and more financially stable, they are living out these values by giving back in time, talents, and treasure.
This personal prioritization of family and community is being matched at the policy level as well. Bipartisan support for tax credits, championed by numerous faith-based organizations, has provided essential financial relief to American families, enabling them to save more and live better. The expansion of the Child Tax Credit has benefitted 61 million children across the nation, including those in military families and living below the poverty line. And the bipartisan Infrastructure Bill has invested $400 billion in the bulwarks that support our communities, including schools, rural internet, roads, sidewalks, libraries, and bridges.
Scripture reminds us that where our treasure is, there our hearts will be also. As we continue to move out of the post-pandemic world stronger than we were before, America is demonstrating our commitment to the common good and to the enduring values that have always made our country great.