Hoyer: Economic Data Shows Why Congress Must Enact American Rescue Plan

Statement

House Majority Leader Steny H. Hoyer (D-MD) released the following statement on today's report from the Bureau of Economic Analysis showing that 2020 was the worst year for the U.S. economy since 1946:

"The latest economic figures present the most compelling case for why Congress must move quickly to enact President Biden's American Rescue Plan. While the historic intervention of the CARES Act helped keep some families and businesses afloat for a time, it was not enough to withstand the nine month "pause' taken by Republicans as the pandemic only worsened. As a result, our economy shrunk 3.5% last year, the worst performance in seventy-five years. Republicans finally came to the table in December to support a down payment on further relief but, a month later, it is clear that more must be done to help American workers. More than 18 million Americans are still receiving unemployment insurance, with nearly 850,000 new claims this past week for the third week in a row.

"President Biden's American Rescue Plan will ramp up testing and vaccinations, help schools and businesses reopen safely, and allow more workers return to their jobs -- all while providing much-needed relief to Americans struggling to get through this crisis. If 2020 has shown us anything, it is that there is no time to waste."

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