FOR IMMEDIATE RELEASE
February 27, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
HOUSE OF REPRESENTATIVES PASSES OVERWHELMINGLY POPULAR AMERICAN RESCUE PLAN
WASHINGTON, DC — The House of Representatives voted to pass the overwhelmingly popular American Rescue Plan. President Biden’s Covid relief package has earned vast, bipartisan support from voters, business leaders, economists, elected officials, and presidential advisors.
Invest In America Action’s spokesperson Maddy McDaniel issued the following statement:
“After this vote in the House of Representatives, Congress is one step closer to giving millions of Americans a sorely needed lifeline.
“As the package moves to the Senate for approval, Senate Republicans should keep in mind that voting against the American Rescue Plan is voting against stimulus checks that put money directly in the pocket of their constituents who are struggling to pay rent and keep food on the table. It’s voting against unemployment insurance at a time when jobless claims are consistently surpassing the record highs of the Great Recession. It’s voting against funding to reopen schools and delivering resources state and local governments need to avoid laying off thousands of essential workers. It’s voting against funding to more quickly distribute vaccines.
“Republican lawmakers should think long and hard before playing politics and delaying getting struggling Americans the help they need.”
President Biden’s COVID relief plan would boost GDP by 4 percent by the end of 2021, according to a Brookings analysis. The robust plan provides for another round of direct stimulus checks, an expansion of unemployment insurance, and much-needed relief to state and local governments, renters and homeowners, and small businesses, among other key provisions.
Expert research shows that these measures are needed to rescue and grow the American economy.
Expanding unemployment insurance now would support more than 5 million jobs, and boost the GDP by 3.7%, according to the Economic Policy Institute.
Every dollar spent on unemployment insurance generates a $1.64 increase in GDP.
Every dollar invested in state and local aid generates $1.36 in GDP growth
Federal Reserve Chair Jerome Powell credited the stimulus checks and additional unemployment insurance passed in 2020 with a rebound in household spending.