More Fiscal Stimulus Needed to Fight Deep COVID-19 Recession
The United States entered a recession in February precipitated by COVID-19 and the public health response. While policymakers have enacted important policies to mitigate some of the effects of the recession, the damage in terms of the number of people who have lost their jobs and businesses that have closed remains substantial. Further, key aspects of this assistance are set to expire soon. The analyses on this page explain why lawmakers should enact further federal fiscal stimulus that is sufficiently large and long-lasting to meet the current extraordinary economic and human challenge. The nation can afford to mount that response, and the costs of inaction or doing too little would be severe — and felt most heavily by low- and moderate-income people and people of color.
(Further analyses focusing on specific policies that could be used to respond to the crisis can be found on our COVID-19 resource page.)