New Jersey’s leading progressive Democrat, Lisa McCormick, joined other prominent leaders making public statements urging Congress to support President Joe Biden’s American Rescue Plan.
Among those who share McCormick’s enthusiasm for President Biden’s American Rescue Plan are Senate Finance Chairman Ron Wyden (D-OR), former Director of the National Economic Council Gene Sperling, small business owner and co-chair of Small Business for America’s Future Shaundell Newsome, Congressman Frank Pallone, Jr. (NJ-06), and senior advisor to Invest in America Action Zac Petkanas.
McCormick said President Joe Biden has proposed a $1.9 trillion package of policies to address the health care, economic and societal harms caused by the COVID-19 pandemic.
“The Biden plan includes new leave requirements on employers, a $15 federal minimum wage and an additional $1,400 in direct assistance to individuals among other relief to workers and families; additional funding for COVID-19 vaccination, testing and prevention; additional aid to small businesses and local, state and tribal governments; and measures to address recent cybersecurity attacks against the U.S. government by modernizing and securing federal information and technology,” said Lisa McCormick, who earned a dazzling four out of ten Democratic primary votes in her 2018 race for US Senate and has been vigorously fighting for the working class.
Although the plan includes certain executive actions, the vast majority of proposals are dependent on Congress enacting legislation. President Biden has indicated his preference to enact the package through regular order, requiring bipartisan support in the U.S. Senate. However, Democrats in Congress are laying plans to pass the package through budget reconciliation should bipartisan negotiations break down.
“President Biden’s rescue plan is a bold initial step toward fixing a problem that Republicans have allowed to get out of control,” said Lisa McCormick. “It costs much more to do nothing than to do something. Republican lawmakers must recognize the need for speeding vaccinations, but just as they caused incredible economic harm when they gambling with the fiscal cliff during the Obama administration, they have shown a willingness to endanger America in order to delay results that would benefit Democrats politically or achieve their own policy objectives. That is an irresponsible betrayal of the public trust. President Biden has welcomed bipartisan support but he is strong enough to push forward without the Republicans if that becomes necessary to save American lives.”
“Last year was the worst year for the American economy since World War II. That alone ought to send a powerful message to Senators who are getting ready to debate COVID legislation and caution them against going small,” said Sen. Ron Wyden, Chair of the Senate Finance Committee. “I was a junior member of the Finance Committee during the Great Recession — we were told that if you went small, there would be more bites at the apple. The fact is, in 2009, the Congress didn’t pass another economic relief package. Senators can’t let our first economic package under the Biden administration take the small ball route.”
“This is an economic situation where the risks of doing too little vastly outweigh the risks of doing too much,” said Gene Sperling former director of the National Economic Council under President Clinton and President Obama. “If you’re going to object to this package you’re going to have to go through each provision that meets an economic and humanitarian need and say why you think we should do less. Let’s remember that the programs in the Biden plan are not only pro-dignity and pro-humanitarian, they are pro-growth.”
“President Biden’s rescue plan would be a lifeline for small businesses like mine, who are facing peril and are tired of feeling like they are last on the priority list,” said Shaundell Newsome, a small business owner from Nevada, Chairman of the Board of the National Urban Chamber of Las Vegas and a co-chair of Small Business for America’s Future. “Small business owners create two out of three new jobs in this country. Every dollar you invest in small businesses is an investment in jobs, workers, and the community.”
“President Biden outlined a bold, comprehensive plan to address the worsening COVID-19 pandemic and help bring an end to this dark winter and economic crisis, said Congressman Frank Pallone, Jr. (NJ-06), who is chairman of the Energy and Commerce Committee. “The blueprint President Biden laid out will build on the bipartisan down payment made by Congress last month. It provides additional resources and assistance, including for lifesaving vaccine distribution, increasing our testing capacity, and hiring the local public health workforce necessary to help with contact tracing and vaccine outreach. These investments will protect the health of the American people and help us crush this virus so we can rebuild our economy.”
“The American Rescue Plan as laid out by President Joe Biden is a key piece of the strategy to get us out of this crisis,” said Zac Petkanas, senior advisor to Invest in America Action. “If you are interested in unity, there is a whole lot of unity behind significant relief toward COVID relief like the Biden plan.”
Gene Sperling joined more than 120 other economists who signed a letter urging Congress to immediately pass a new COVID relief package as sweeping as President Biden’s plan. Signers of the letter included Nobel Laureate Joseph Stiglitz and Alan Blinder, former Vice Chairman of the Board of Governors of the Federal Reserve under President Clinton. The economists join a chorus of experts calling for additional stimulus, including many conservative economists and GOP elected officials.
President Biden’s 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.
McCormick said expert research shows that these robust 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.
- Recent polling from GQR demonstrates the strong support from voters across the political spectrum for urgent and expansive public investment. More than half of voters said that the previous stimulus packages weren’t enough, and 77% say the government should pass another.
Lisa McCormick has worked to secure public campaign financing, universal health insurance, better free public education and expanded Social Security benefits all funded through progressive & responsible fair tax measures.
McCormick believes climate change should be addressed as soon as practicable through a mandatory national program, which must be fair and competitive to advance innovation in an efficient and economical manner.
McCormick has said systemic corruption prevents progress on all these issues because the rich have been consumed by greed and used their wealth to rig the economic and political systems against the other 99 percent of Americans.