Steps in the Right Direction

Along with today's news that we gained 162,000 jobs in March -- the largest job gain in a single month in the past three years -- this week brought other good news that our economy is moving in the right direction. Consumer confidence is rising -- exceeding forecast:

Conference Board's confidence index rose to 52.5, exceeding the median forecast of economists surveyed by Bloomberg News, from 46.4 in February, the private research group's report showed today.

Personal spending increased for the 5th straight month:

Americans continued to boost their personal spending last month, a further sign that an economic recovery is under way. Consumer spending accounts for roughly 70% of U.S. economic activity, making its revival is crucial to a sustained upturn...The new report showed personal spending rose 0.3% in February from the month before, the fifth straight month it advanced. The figures show that through last month, spending was growing at an inflation-adjusted 3.1% annual rate in the first quarter, putting it on track for the fastest pace since the first quarter of 2007.

Home prices rise for the 8th straight month in a row:

Prices of U.S. single-family homes rose in January for the eighth straight month and the annual rate moved the closest it has been to an increase in three years, Standard & Poor's/Case Shiller home price indexes showed on Tuesday.

This progress is just the beginning - more is needed to ensure our economy is secure and growing for all Americans. In the last year, Congress has taken action to help speed the recovery and strengthen job opportunities for American workers and small businesses. Learn more about some of the key pieces of legislation we've passed:

In February 2009, Congress passed and the President signed the American Recovery and Reinvestment Act to jumpstart our economy, save more than 3 million jobs, give 95 percent of American workers a tax cut and begin to rebuild America's infrastructure.

In June, Congress passed and the President signed the into law legislation creating the "Cash for Clunkers" program which generated sales of more than half a million new cars and trucks that consumers would not have purchased otherwise.

In November, Congress passed and the President signed the Worker, Homeownership & Business Assistance Act, legislation boosting the economy and creating jobs with more unemployment benefits for Americans hit by the recession, an expanded 1st-time homebuyer tax credit, and enhanced small business tax relief--expanded to all struggling U.S. businesses.

In December, the House passed the Jobs for Main Street Act to fund jobs here at home with targeted investments for highways and transit, teachers, police, firefighters and small businesses.

And in March, the Congress passed and the President signed the Hiring Incentives to Restore Employment (HIRE) Act -- a bipartisan job creation law to create 300,000 jobs with tax incentives for businesses that hire out-of-work Americans and to encourage small business investments, along with critical investments in highways, which is one in a series of measures Congress will take to restore the American economy.

Last week, the House passed the Small Business and Infrastructure Jobs Act to extend Build America Bonds (BABs) to help state and local governments finance the rebuilding of schools, public works projects, and hospitals; and to strengthen small businesses, with tax incentives to spur investment, and help for entrepreneurs looking to start a small business.

The House also passed Disaster Relief and Summer Jobs Act to add approximately 300,000 summer jobs opportunities for America's young people and extend the Recovery Act small business lending program, which has already helped save or create over 560,000 jobs.

Democrats will continue to work with President Obama to aggressively respond to the needs of American workers, their families and small businesses.