Jared Bernstein and Heather Marie Boushey

“ In addition to CBO’s macroeconomic estimates of when the economy will return to pre-pandemic employment and growth trends, the current crisis is generating deeply inequitable outcomes for American families. Almost a year into the pandemic, almost 11 million workers remain unemployed and around 4 million have been unemployed for six months or longer. More than 2 million women have left the labor force, many in the wake of school closures and challenges with child care. ”

“ That bottom-up approach also makes sense top-down, looking at the economy as a whole and the challenges that yesterday’s CBO report laid bare: a labor market that is projected to recover too slowly and economic output that fails to get back to pre-pandemic expectations soon enough. ”

“ In addition, more than 15 million adults are behind on rental payments, nearly 24 million adults — and as many as 12 million children — are struggling with food insecurity, and more than 80 million adults are having trouble covering usual household expenses. The COVID-19 pandemic and related economic crisis have brought tens of millions of Americans to the brink of financial ruin through no fault of their own. ”

“ In designing the American Rescue Plan, President Biden tasked his team with building a bottom-up plan that provides resources for our highest priority needs: getting shots in arms, opening schools, and providing relief to the workers, families, and small businesses that need it most. ”