THREAD: This morning, I led six of my colleagues in a letter to the Speaker, emphasizing automatic stabilizers as an essential inclusion to the next #COVID19 response package. (1/7) 
With over 20 million American jobs lost last month and unemployment continuing to skyrocket, we will need to face the economic calamity head-on and provide stable, ongoing relief to individuals and families across the country. (2/7)
We know the optimal recession-fighting tools are existing countercyclical programs, like UI, FMAP, SNAP, etc. To revive our economy, it will be imperative to establish rolling federal aid that enhances these programs, as they become more widely needed in the months ahead. (3/7)
Adopting automatic stabilizers would do just that - keep federal funding for crucial programs flowing for the duration of the current financial crisis until an economic trigger signals the additional stimulus is no longer needed and can be shut off. (4/7)
During the last recession, Congress had to extend emergency unemployment benefits +10 times. As the weak labor market wore on, it became more difficult for Congress to meet consensus and act.
We cannot afford to make the same mistake twice. (5/7)
We cannot afford to make the same mistake twice. (5/7)
The #coronavirus pandemic has uprooted the lives of many Americans and our country will feel the impacts of the damage for years to come. Nearly all economists agree: Congress needs to go big to save our economy. (6/7)
Automatic stabilizers that follow economic cues are the most fiscally responsible, long-term solution to the present economic problems our country is contending. (7/7)
Read the letter, here: scottpeters.house.gov/sites/scottpet…
Read the letter, here: scottpeters.house.gov/sites/scottpet…
