Fact Check: Joe Biden Falsely Claims $2.3 Trillion Bill Creates 16 Million Jobs

WASHINGTON, DC - MAY 05: U.S. President Joe Biden speaks during an event at the State Dining Room of the White House May 5, 2021 in Washington, DC. President Biden delivered remarks on his administration’s implementation of the American Rescue Plan. (Photo by Alex Wong/Getty Images
Alex Wong/Getty Images

CLAIM: President Joe Biden cited a Moody’s study claiming his $2.3 trillion infrastructure bill would create 16 million jobs.

“You have Moody’s talking about increasing — I don’t know the recent new one — 16 million new jobs,” Biden said, defending his massive tax-and-spend plan.

VERDICT FALSE. Moody’s said nothing even close to back Biden’s claim, as numerous fact-checkers have already pointed out.

Moody’s calculated that nearly 16 million jobs would be created in the U.S. by 2030 WITHOUT Biden’s plan.

Moody’s actual estimate was that his plan would create roughly 2.6 million additional jobs over ten years for a total of 19 million jobs.

That’s why Biden officials typically cite the Moody’s study and argue the bill would “help” create 19 million jobs.

But during his event at the White House on Wednesday, Biden shortchanged the argument, believing his plan would create far beyond what Moody’s estimated.


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