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 \nec o nomicr e p o rt  \no f the  \np r es id ent  \ntransmitted to congress | January 2025 together with the annual report of the council of economic advisers  \nContents  \nEconomic Report of the President .............................. 1  \nThe Annual Report of the Council of Economic Advisers ............ 7  \nLetter of Transmittal ......................................... 9  \nIntroduction ............................................... 17  \nChapter 1: Four Years in Review and the Years Ahead ............. 31  \nChapter 2: How Remote Work Is Reshaping the Economy .......... 89  \nChapter 3: Aligning the International Tax System with the Globalized Economy....................................... 121  \nChapter 4: Expanding and Strengthening U.S. Health Insurance Coverage ................................................ 145  \nChapter 5: Achieving a Net Zero Carbon Dioxide Emissions Economy in the United States................................ 171  \nChapter 6: America's Role in International Capital Flows .......... 207  \nChapter 7: The K-12 Education System: Economic Impacts and Opportunities for Innovation................................. 241  \nReferences ............................................... 281  \nAppendix A: Report to the President on the Activities of the Council of Economic Advisers during 2024 ..................... 363  \nAppendix B: Statistical Tables Relating to Income, Employment, and Production ........................................... 379  \n*For a detailed table of contents ofthe Council’s Report, see page 11.  \nEconomic Report of the President  \nEconomic Report of the President  \nJanuary 9, 2025  \nTo the Congress of the United States:  \nIn the last four years, America has overcome some of the most challenging economic conditions in our history. When I took office, our economy was in the grips of worst pandemic in a century, and decades of trickle-down policies had left us especially vulnerable to its shocks. Hundreds of thousands of businesses had closed, and millions of Americans risked losing their homes. Unemployment was high and the risk of long-term damage was real.  \nMy Administration responded with a new economic playbook to rebuild our economy from the middle out and bottom up, not the top down. Since then, we’ve made historic investments in our nation and in the industries of the future. We’ve stood by unions and helped to create a record 16 million jobs. We’ve fought to lower costs for consumers, and to give small businesses a fair chance to compete. Today, our economy has not only recovered, it has emerged stronger, laying the foundation for a promising new chapter in the American comeback story.  \nMy Council of Economic Advisers has prepared this report examining actions taken to both ease the pandemic’s immediate impact and strengthen our economy over the long-term, to help ensure we learn the right lessons asa nation and to build on the historic progress we’ve made.  \nOur work began right away with the American Rescue Plan, one of the most consequential recovery packages in history. To reopen our economy, we knew we had to defeat COVID-19, so we launched unprecedented vaccination efforts. We got immediate economic relief out to tens of millions of families who needed it most. We expanded the Child Tax Credit, cutting child poverty in half to its lowest rate in history. And we sent funding directly to every state, city, and town in the nation, keeping police on the beat and teachers in the classroom, families in their homes and small businesses on their feet, preventing a wave of scarring bankruptcies, defaults, and evictions.  \nAt the same time, the pandemic had snarled supply chains and set off widespread labor shortages, driving up costs worldwide. In response, my Administration immediately convened businesses and labor to unclog our ports and get ","cbCaibwy6rc4RhUH","https://ap.wps.com/l/cbCaibwy6rc4RhUH","pdf",7343391,467,"English","# Economic Report of the President\n## The Annual Report of the Council of Economic Advisers\n## Letter of Transmittal\n## Introduction\n# Chapter 1: Four Years in Review and the Years Ahead\n# Chapter 2: How Remote Work Is Reshaping the Economy\n# Chapter 3: Aligning the International Tax System with the Globalized Economy\n# Chapter 4: Expanding and Strengthening U.S. Health Insurance Coverage\n# Chapter 5: Achieving a Net Zero Carbon Dioxide Emissions Economy in the United States\n# Chapter 6: America's Role in International Capital Flows\n# Chapter 7: The K-12 Education System: Economic Impacts and Opportunities for Innovation\n# References\n# Appendix A: Report to the President on the Activities of the Council of Economic Advisers during 2024\n# Appendix B: Statistical Tables Relating to Income, Employment, and Production","[{\"question\":\"What is the purpose of the Economic Report of the President in January 2025?\",\"answer\":\"It examines actions taken to ease the pandemic’s immediate impact and strengthen the U.S. economy over the long term, building on historic progress.\"},{\"question\":\"Which major initiatives are described early in the report’s introduction?\",\"answer\":\"The introduction highlights the American Rescue Plan, unprecedented vaccination efforts, expansion of the Child Tax Credit, and direct funding to states, cities, and towns.\"},{\"question\":\"How does the report describe progress on inflation and employment?\",\"answer\":\"It states inflation is down significantly from its peak and is now close to pre-pandemic levels, alongside steady employment, strong growth, and rising real wages.\"}]","Economic Report of the President - January 2025 - overview | PDF",1177]