FOR IMMEDIATE RELEASE
March 6, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
SENATE PASSES OVERWHELMINGLY POPULAR PUBLIC INVESTMENT IN AMERICAN RESCUE PLAN
WASHINGTON, DC — Today, the Senate voted to pass the American Rescue Plan, which has earned overwhelming bipartisan support from the American people and will deliver crucial economic relief to communities, essential workers, small businesses, and state and local governments.
“The public investment in the American Rescue Plan, like funding for direct checks, vaccine distribution, school reopening, small businesses and unemployment insurance will help our nation recover from the economic and public health devastation wrought by the coronavirus crisis,” said Maddy McDaniel, communications director for Invest in America Action. “The fact that this remains one of the most popular bills Congress has taken up in decades is proof that Americans desperately want our government to take big, bold action to fix our nation’s problems.”
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.