120+ Economists Call On Congress To Pass “Sweeping” Additional COVID Relief Package

“The steps taken by the previous administration and Congress were not enough to help families and businesses weather the storm.”

“What our nation cannot afford is inaction or timidity in the face of what many consider to be the greatest economic disaster since the Great Depression.”

Congress must follow the lead of the Biden administration and “immediately pass a new coronavirus relief package that will provide additional assistance to families and businesses…”

Today, 120+ economists from across the country called on Congress to pass another coronavirus relief package, one that goes further in addressing the real crisis facing families and businesses across America — like the sweeping, bold rescue package proposed by the Biden administration.

“The coronavirus has had a catastrophic impact on America’s economy, families and businesses. Since the crisis began, tens of millions have been forced to file for unemployment insurance, nearly 8 million have fallen into poverty, hundreds of thousands of businesses have shuttered, our nation’s industrial production has been severely damaged, and the inability of millions to make their rent and mortgage payments is threatening to plunge this nation into a housing emergency.

“Unfortunately, the steps taken by the previous administration and Congress were not enough to help families and businesses weather the storm, nor for our nation’s economy to fully recover. While the COVID relief package passed at the end of 2020 was better than nothing, it was too little and too late to address the enormity of the deteriorating situation. The modest increase in unemployment insurance, paltry direct stimulus checks to families, minimal rental assistance, and absence of aid to state and local governments have severely blunted the impact of the legislation.

“That’s why it’s critical for Congress to immediately pass a new coronavirus relief package that will provide additional assistance to families and businesses struggling through a hard winter, and to provide the economic boost required to promote growth and prosperity. This includes substantial unemployment benefits and stimulus checks, help for struggling renters and homeowners, and significant state and local aid that will pay for essential workers, as laid out by the Biden administration’s robust rescue package.

“There are some who suggest America cannot afford more relief at this time. They are simply wrong. Such thinking helped exacerbate and prolong the damage caused by the 2008 financial crisis. History shows that what our nation cannot afford is inaction or timidity in the face of what many consider to be the greatest economic disaster since the Great Depression.

“For this reason, we urge Congress to put partisanship aside and show bold leadership during this time of crisis by passing a coronavirus relief package that meets the urgency of this moment.”

Signed,

Gene Sperling, Former National Economic Council Director under President Obama and President Clinton
Joseph Stiglitz, Columbia University, Nobel Laureate
Alan Blinder, Princeton, former Vice Chairman of the Board of Governors of the Federal Reserve under President Clinton
Suresh Naidu, Columbia University
Brendan O’Flaherty, Columbia University
John Roemer, Yale University
Heidi Shierholz, Economic Policy Institute
Amy Crews Cutts, AC Cutts & Associates
Mieke Meurs, American University
Gabriel Mathy, American University
Kade Finnoff, Azim Premji University
David Weiman , Barnard College, Columbia University
Juliet Schor, Boston College
Jeanne Koopman, Boston University
Neva Goodwin, Boston University & Tufts University
John Sabelhaus, Brookings Institution
Alan Aja, Brooklyn College
Stephan Lefebvre, Bucknell University
Nina Banks, Bucknell University
Mark Votruba, Case Western Reserve University
Eileen Appelbaum, Center for Economic and Policy Research(CEPR)
Howard Chernick, City University of New York
EricVerhoogen, Columbia University
Elissa Braunstein, Colorado State University
MarkStelzner, Connecticut College
Christopher Barrett, Cornell University
Naomi Zewde, CUNY
Ruth Milkman, CUNY Graduate Center
Jennifer Olmsted, Drew University
Arnab Datta, Employ America
Ozge Ozay, Fitchburg State University
William Ferguson, Grinnell College
Anna Stansbury, Harvard University
Charles Davis, Indiana University
Anmol Chaddha, Institute for the Future
Darrick Hamilton, Kirwan Institute for the Study of Race and Ethnicity at Ohio State University
Tim Smeeding, LaFollette School of Public Affairs , University of Wisconsin
Thomas Masterson, Levy Economics Institute of Bard College
Julia Coronado, MacroPolicy Perspectives LLC
Peter Matthews, Middlebury College
Melissa Boteach, National Women’s Law Center
Mark Paul, New College of Florida
Samuel Hammond, Niskanen Center
Barry Bluestone, Northeastern University
Trevon Logan, Ohio State University
Justin Elardo, Portland Community College
John Gallup, Portland State University
Mary King, Portland State University
Yana Rodgers, Rutgers University
Kimberly Christensen, Sarah Lawrence College
Rick McGahey, Schwartz Center, New School for Social Research
Roger Kaufman, Smith College
Ellen Mutari, Stockton University
Deborah Figart, Stockton University
Edith Kuiper, SUNY New Paltz
Mona Ali, SUNY New Paltz
Ranjit Dighe, SUNY Oswego
Louise Sheiner, The Brookings Institution
Michele Naples, The College of New Jersey
PeterBohmer, The Evergreen State College
Anwar Shakih, The New School
William Semmler, The New School
Teresa Ghilarducci, The New School for Social Research
George-Ann Ryan, The Sadie Collective
Margaret Andrews, U.S. Department of Agriculture, retired
Aaron Sojourner, Univ. of Minnesota Carlson School of Management
Christian Proano, University of Bamberg
Michael Reich, University of California at Berkeley
Clair Brown, University of California- Berkeley
Ronald Lee, University of California-Berkeley
Chris Tilly, University of California-Los Angeles
Chris Benner University of California-Santa Cruz
Jesse Rothstein, University of California, Berkeley
Daphne Greenwood, University of Colorado-Colorado Springs
Farida Kahn, University of Colorado-Colorado Springs
Chiara Piovani, University of Denver
John Nicolarsen, University of Denver
Haider Kahn, University of Denver
Tracy Mott, University of Denver
Yavuz Yasar, University of Denver
Dietrich Vollrath, University of Houston
Marcus Casey, University of Illinois at Chicago
James Ziliak, University of Kentucky
Ethan Kaplan, University of Maryland at College Park
Robert Pollin, University of Massachusetts Amherst
Lenore Palladino, University of Massachusetts Amherst
Michael Ash, University of Massachusetts Amherst
Nancy Folbre, University of Massachusetts Amherst
Robert Pollin, University of Massachusetts Amherst
Gerald Epstein, University of Massachusetts Amherst
Julie Nelson, University of Massachusetts Boston
Mary Stevenson, University of Massachusetts Boston
Randy Albelda, University of Massachusetts Boston
Marlene Kim, University of Massachusetts Boston
Philip Moss, University of Massachusetts Lowell
Margaret Levenstein, University of Michigan
Sheldon Danziger, University of Michigan
Susan Dynarski, University of Michigan
Thomas Weisskopf, University of Michigan
Elliott Parker, University of Nevada, Reno
Doyne Farmer, University of Oxford
Ioana Marinescu, University of Pennsylvania School of Social Policy and Practice
DoreneIsenberg, University of Redlands
Nathaniel Cline, University of Redlands
Manuel Pastor,University of Southern California
Michael Hillard, University of Southern Maine
Anne Yeagle, University of Utah
Kenneth Jameson, University of Utah
Stephanie Seguino, University of Vermont
Fabio Ghironi, University of Washington
Laura Dresser, University of Wisconsin Madison
Timothy Bartik, Upjohn Institute for Employment Research
Elaine Maag, Urban Institute* / Tax Policy Center
Michael Howard, US Basic Income Guarantee Network/UMaine
Joyce Burnette, Wabash College
Kate Bahn, Washington Center for Equitable Growth
Claudia Sahm, New York Times and Bloomberg Opinion contributor, former Federal Reserve economist
Wendy Rayack, Wesleyan University
Emily Hoffman, Western Michigan university
John Watkins, Westminster College
John Miller, Wheaton College
Sarah Jacobson, Williams College

*Organization listed for identification purposes only; views should be attributed to the individual, not the organization, its trustees, or funders