Congress must act to help U.S. families facing an income crisis
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We now have 4.3 million confirmed cases of the novel coronavirus in the United States. The virus moves fast, and policymakers in Washington move slow. Families across the country face a wide array of individual income crises and need federal fiscal support, yet policies to address public health and…
Broken plumbing: How systems for delivering economic relief in response to the coronavirus recession failed the U.S. economy
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Overview Sudden economic contractions are dangerous. Individuals experience income shocks that leave them hungry, sick, and frightened. And if left unchecked, these shocks spread. When people lose income, they stop spending, businesses lose customers, layoffs begin, more people lose income, and more…
Sleepwalking into depression: The economic response to COVID-19 in the United States
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Almost five months into our country’s response to the coronavirus pandemic and ensuing recession, policymakers seem to have lost the urgency that characterized the initial days of dramatic, bipartisan action. In March, four pieces of coronavirus legislation were passed and signed into law. But over…
New research on the Great Recession shows extended unemployment benefits insignificantly affect U.S. unemployment rates
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Unemployment rates in the United States are currently higher than they were at height of the Great Recession, standing at 11.1 percent in June after declining from a record high of 14.7 percent in April, compared 10.6 percent at the height of the previous recession in January 2010. Amid the deepenin…
Factsheet: Unemployment Insurance and why the effect of work disincentives is greatly overstated amid the coronavirus recession
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Under the Coronavirus Aid, Relief, and Economic Security, or CARES, Act,the Pandemic Unemployment Compensation program added a $600 weekly boost to Unemployment Insurance payments. Despite being one of the most effective policy responses to the coronavirus recession yet, the enhanced payments are se…
Child care is essential for working parents, but is the industry ready and safe to reopen?
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By now, it is no secret that parents across the United States are struggling. Adapting to life during the coronavirus pandemic has been difficult for nearly everyone, but parents—particularly those with young children—are facing day-in, day-out work-life conflicts with no end in sight. Whether they…
Did the Paycheck Protection Program work for small businesses across the United States?
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Overview Across the United States over the past few weeks, we’ve all seen advertisements, received emails, or heard from friends about small businesses trying to inch back to some semblance of pre-pandemic normal. Hair salons reopening. Gyms welcoming people back into their facilities. Restaurants s…
New research finds enhanced U.S. social insurance will be necessary until the coronavirus recession recedes
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A new working paper released by Harvard University economist and former Equitable Growth Steering Committee member Raj Chetty and his Opportunity Insights colleagues finds that U.S. consumer spending fell dramatically over the past few months, driven by public health and safety concerns due to the n…
Americans want green spending in federal coronavirus recession relief packages
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Coronavirus recession relief packages now under discussion on Capitol Hill present an opportunity to power an economic rebound and address climate change at the same time. This approach would save American lives. Air pollution from dirty energy infrastructure makes people much more likely to die fro…
The United States needs a new Works Progress Administration to overcome the coronavirus recession
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With the United States having just completed a long July 4 weekend while registering more than 2.4 million cases of the novel coronavirus prior to the holiday celebrations, health experts are making it clear that alongside social distancing, wearing protective masks, and ramping up testing, our nati…