Progressive Caucus Leaders Reiterate Urgent Need for an Ambitious Pandemic Relief Package of at Least $1.9 Trillion
January 27, 2021
Washington, D.C. – Today, the Executive Board of the Congressional Progressive Caucus, led by Chair Pramila Jayapal (WA-07) and Deputy Chair Katie Porter (CA-45), sent a letter to Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer reiterating the strong progressive support for a urgent and ambitious pandemic relief package of no less than $1.9 trillion.
“With the economy in crisis, rock-bottom interest rates, and no sign of inflation, the economic consensus is clear: the best hope for the economy is a massive public investment to create jobs, raise wages, and keep people out of poverty,” the letter notes. “If we aim too low, the financial consequences will be catastrophic, long-lasting, and borne by the American families who can least afford it.”
“President Biden’s rescue package, which comes in at $1.9 trillion, is a critical first step meeting the economic need, but if anything, it doesn’t go far enough. Congress should be building off of this opening offer, not weakening it. Given the clear economic consensus and urgent need for government spending, we are deeply concerned that lawmakers – including a handful in our own party – are advocating to scale back the President’s rescue package,” the letter continues. “Deficit-financed investments, especially those targeted toward poor, working-class, and middle-class communities, will drive broad-based economic growth. Manufactured concerns about the debt will only get in the way of urgently-needed action and delay relief for millions of families.”
The letter was signed by 25 members of the Congressional Progressive Caucus Executive Board. The full letter is available here.