House Budget Committee Holds Virtual Bipartisan Briefing with CBO Director
Washington, D.C.— Today, the House Budget Committee held a bipartisan telephone briefing with Congressional Budget Office (CBO) Director Dr. Phillip Swagel to discuss current economic projections and how the coronavirus will impact our economy and budget. Dr. Swagel highlighted key points from CBO’s recent blog post and discussed the impact of the fiscal support provided to date as our nation battles the coronavirus and Congress continues to work to contain the pandemic and mitigate the subsequent economic fallout.
“In a time when our nation is facing a severe economic downturn, Americans need to know that Congress will continue to provide the support and relief they need to make ends meet,” said House Budget Chairman John Yarmuth (KY-03). “We cannot afford to repeat the mistakes of the Great Recession, especially when we have the fiscal space to make the critical investments necessary to get us through this crisis. Congress must do whatever it takes to end this pandemic, restore the economy, and support families and workers until our nation is on the road to recovery.”
The House Budget Committee came together to hold this bipartisan briefing so Members could ask questions of CBO and fully understand the extent to which this pandemic will impact our nation’s economy and budget for years to come. And the picture is clear: emergency economic relief is critical in softening the blow to our economy and improving our long-run economic and fiscal outlook. That must include investing in public health, supporting family incomes, and keeping businesses afloat. The House Budget Committee will continue to work to protect the lives and livelihoods of American families and workers during this unprecedented time.
Click here to visit the House Budget Committee’s Coronavirus Resource Center for more information, resources, and additional materials from the Committee.