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Chairman Yarmuth Statement on CBO’s Interim Economic Projections for 2020 and 2021

May 19, 2020

Washington, D.C.— Today, House Budget Committee Chairman John Yarmuth (KY-03), released a statement following the Congressional Budget Office’s release of its Interim Economic Projections for 2020 and 2021. The report updates and expands upon preliminary projections the agency released last month and underscores the staggering economic challenges facing our nation as we battle this pandemic.

“CBO’s report makes it clear that we are facing a severe and prolonged economic downturn and Congress must keep pushing forward to fight the pandemic, soften the blow to our economy, and stand with the American people to build a strong recovery,” said Chairman Yarmuth. “The historic aid packages delivered so far have been critical, but Congress must continue to help families who are stretching every penny, support Main Street businesses struggling to stay afloat, and ensure that protecting the lives and livelihoods of the American people remains the top priority in all policy decisions.”

The House Budget Committee has released multiple reports on the need for and importance of strong, sustained, and targeted relief as our nation fights the coronavirus pandemic. Responsible fiscal policies that invest in public health, support family incomes, and keep businesses afloat will help make this economic downturn as short, shallow, and painless as possible.

Visit the House Budget Committee’s Coronavirus Resource Center for more information, resources, and additional materials from the Committee.