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Joint Economic Committee Democrats

Publications

Aug 10 2021

Protecting Renters from Eviction Can Both Keep Families Housed and Ensure an Equitable Economic Recovery

Eviction moratoria effectively keep families in their homes, and the CDC’s decision to bar evictions in counties with elevated COVID-19 transmission through October 3 will be a vital tool to protect public health. Federal, state and local policymakers must now step in with additional action to both keep families housed and distribute more of the nearly$47 billion in federal Emergency Rental Assistance (ERA) before the ban expires.

Aug 05 2021

Partisan Attacks on Unemployment Insurance Are Nothing New

Unemployment Insurance (UI) has played a key role both in helping workers replace lost income and acting as a macroeconomic stabilizer since it was introduced during the Great Depression. In spite of decades of neglect, the program has repeatedly saved jobs and kept working Americans and their families out of poverty when they’ve lost a job through no fault of their own.

Aug 02 2021

Expanded Child Tax Credit Will Inject More Than $18.6 Billion Into Local Economies Each Month

In July 2021, monthly payments from the newly expanded Child Tax Credit (CTC) started hitting families’ bank accounts. The American Rescue Plan (ARP) dramatically increased the value of the CTC, from $2,000 per child to up to $3,600 per child under six and $3,000 per child six and older. The ARP also expanded the CTC so that it is now fully refundable and previously ineligible low-income families will receive the full credit. Half of the expanded CTC will be distributed via monthly payments, helping families meet their financial needs in real time. The first round of monthly payments distributed nearly $15 billion to families across the United States, averaging $423 per qualifying family and reaching more than 59 million children.

Jul 15 2021

Unemployment Insurance, Worker Power and the Recovery

Economic indicators show that the labor market is experiencing a period of rising wages and more job choices for workers as Americans continue to recover from the economic effects of the COVID-19 pandemic. Research indicates that the scale of the impact of government programs like Unemployment Insurance (UI) on the timing of workers’ return to work is small to negligible. Real-time evidence and broad academic consensus suggest that the labor market is returning to its pre-pandemic tightness, countering claims by proponents of a “labor shortage.” Before the pandemic, wages were rising and workers had more choices for jobs that fit their skills and needs as the labor market tightened.