Economy

The San Joaquin Valley’s economy is both the engine of America’s food supply and remains one of the most economically challenged regions, with high unemployment and limited access to affordable housing and healthcare. Congressman Jim Costa has worked to change that by voting to cap insulin at $35 a month, limit prescription drug costs to $2,000 a year, expand access to affordable healthcare, make hearing aids available over the counter, and cut internet costs.

When the economy collapsed in 2008, Congressman Jim Costa worked with President Barack Obama to pass the Dodd-Frank Act, putting safeguards in place to prevent another financial crisis and protect Americans from predatory lending. He also secured millions through the American Recovery and Reinvestment Act to repair vital highways and create thousands of jobs when the Valley faced some of the highest unemployment rates in the nation. During the COVID-19 pandemic, Costa helped pass the American Rescue Plan, driving the strongest economic recovery in the world with 15 million jobs created, child poverty cut in nearly half, and record-low unemployment. Building on that momentum, he secured $$65.1 million for the Fresno-Merced Future of Food Innovation (F3) Coalition and $23 million for the Good Jobs 4 The Central Valley project, creating over 20,000 jobs, and championed the CHIPS and Science Act to restore U.S. leadership in manufacturing, helping create more than 79,000 jobs in California.

Costa has long understood that trade is not an abstract policy; it directly impacts everyone’s pocketbooks. With nearly one in four local jobs tied to agricultural exports, he fought to shape the United States-Mexico-Canada Agreement (USMCA) to protect the Valley’s top commodities like nuts, dairy, wine, and citrus, all while opening new markets and ensuring fair treatment for our farmers. He founded the bipartisan Agricultural Trade Caucus and worked with President Biden to successfully remove retaliatory tariffs on major crops like almonds, walnuts, and apples. Costa also champions programs like the Market Access Program and Technical Assistance for Specialty Crops, which help small and mid-sized growers promote their products abroad.

As a Blue Dog Democrat, Costa has long championed fiscal responsibility and reducing the national debt. He believes that restoring fiscal discipline through measures like pay-as-you-go (PAYGO) budgeting ensures that Congress does not spend money it does not have, helping prevent the debt from spiraling out of control and protecting the financial future of our children and grandchildren. Costa has consistently pushed for bipartisan solutions to reduce deficits, control spending, and make government more efficient. In 2022, he voted to enact the Inflation Reduction Act, which raises $300 billion over the next decade to cut the deficit by requiring large corporations to pay a 15 percent minimum tax on profits and imposing a 1 percent excise tax on stock buybacks.