02/27/2021 | Press release | Distributed by Public on 02/27/2021 16:17
WASHINGTON - Today, Rep. Lisa Blunt Rochester (D-Del.) voted to pass H.R. 1319, the American Rescue Plan Act, landmark, life-saving legislation that will provide urgently-needed resources to defeat the virus, get vaccines in people's arms, put money into families' pockets, return children safely to the classroom, and put people back to work.
'Delawareans and folks across the country have been feeling the impact of the COVID-19 crisis for nearly a year. While Congress has acted in a bipartisan manner throughout the pandemic, the reality is that there's still so much more to do,' said Rep. Blunt Rochester. 'Economists from across the political spectrum - including Jerome Powell and Janet Yellin - have told us that our risk is not in doing too much - it's doing too little.'
The Biden American Rescue Plan will save lives and livelihoods:
The American Rescue Plan is strongly supported by a large majority of the American people - including 60 percent of Republicans - bipartisan state and local leaders, national education groups, trade unions and advocacy organizations, and hundreds of businesses and chambers of commerce. Economists agree that the American Rescue Plan's targeted, evidence-based action is needed - both for struggling families and for the American economy. The legislation's provisions will generate $1.25 for every $1 of spending, will cut child poverty in half and will lift nearly 12 million people out of poverty. AsMark Zandi, Chief Economist of Moody's Analytics, has said, 'It's better to err on the side of too much rather than too little. Interest rates are at zero, inflation is low, unemployment is high. You don't need a textbook to know this is when you push on the fiscal accelerator.'
If the American Rescue Plan is not enacted now, the results could be catastrophic, with 4 million fewer jobs this year, according to Moody's, and it could take a year longer to return to full employment. An entire cohort of young people may have lower lifetime earnings because they were deprived of another semester of school. Millions of parents, particularly mothers, could be forced to stay at home, reducing their wages and job prospects because they have no choice but to care for their kids. And without this package, it will take another four years of suffering before real GDP returns to its pre-pandemic levels, according to the nonpartisan CBO.
'The American Rescue Plan meets the magnitude of this moment. From targeted investments in vaccination distribution, dollars for mobile units to meet people where they are, critically-needed assistance for our struggling small businesses, and fulfilling our promise to the American people to provide the additional $1,400 worth of direct payments - a provision I've worked hard to secure,' continued Blunt Rochester. 'I was also proud to vote for a living wage of $15 an hour and I'll continue to fight in Congress to ensure that we raise the wage. Everyone's goal is to get our children safely back in school, people safely back at work, and build our economy back better. Those important goals have been advanced today through the passage of the American Rescue Plan.'
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