SPECIAL COVERAGE:
EMERGENCY ECONOMICS FOR THE CORONAVIRUS CRISIS
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Congress took concrete steps to support the people most directly harmed by the coronavirus by passing the Families First Coronavirus Response Act. Now they must adopt a broader stimulus package that offers immediate assistance to ensure otherwise financially healthy businesses and households avoid unnecessary bankruptcies that would drag down our economy well after the pandemic has been contained.
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A new report on Emergency Economics from the Progressive Policy Institute offers policymakers a framework for strengthening automatic stabilizers and other measures that will manage the economic fallout from the coronavirus outbreak, as well as better prepare the United States for future recessions.
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by Michael Mandel, Chief Economic Strategist
We must make it clear that innovation and new ideas are encouraged, even risky ones. Legitimate researchers with new tests and new solutions should be encouraged. And unnecessary regulatory barriers that slow down drug and vaccine development should be temporarily thrust aside. This is not a time for business as usual.
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Congress should pass a bill authorizing cash payments to be sent out to everybody immediately, but the policy should be technically designed as a pre-paid refundable tax credit rather than direct spending.
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by Michael Mandel, Chief Economic Strategist
Setting up a new agency is not something that I necessarily want to do. But having a Core Systems Board with the responsibility of backstopping key networks–especially the smaller companies–is essential.
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by Alec Stapp, Director of Technology Policy
A distributed approach would be much more resilient to the inevitable mistakes and accidents inherent to pandemic response. Instead, in this crisis, the FDA bet big on a single testing protocol from the CDC and burned its ships. And when the “perfect” test failed spectacularly, everyone was left wishing for a way to retreat.
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via PPI Press
As the U.S. economy continues to suffer due to the coronavirus pandemic, the New Business Preservation Act provides relief to America’s startups. The Progressive Policy Institute urges Congress to swiftly pass this legislation in support of startups.
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While the president’s proposals would arguably do more harm than good, Speaker Pelosi and House Democrats should be commended for swiftly developing a comprehensive and serious plan to effectively tackle the crisis.
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by Michael Mandel, Chief Economic Strategist
Is the coronavirus about to force us into the Biotech Century? Here’s a follow-up to my previous post.
In response to the coronavirus pandemic, government and private researchers are taking the perhaps unprecedented step of testing the safety of a new coronavirus vaccine in volunteers before testing its safety and efficacy in animals.
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The outbreak of COVID-19, caused by the novel coronavirus, has created a global market downturn and put the United States on track for its first recession since the 2008 financial crisis. Quarantines, social distancing, and other proactive measures that are necessary to contain the pandemic are already limiting commerce and disrupting global supply chains, essentially ensuring that the U.S. economy will contract for at least some period of time in 2020.
PPI Experts are calling on policymakers must adopt a combination of thoughtful public health and macroeconomic policy measures that will limit the damage caused by both this and future recessions.
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by Will Marshall, PPI President
Sen. Bernie Sanders has signaled his imminent departure from the nomination contest. His sooner-than-expected exit frees presumptive nominee Joe Biden to fire up his general election campaign to defeat President Trump in November.
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by Will Marshall, PPI President | David Osborne, Director of Reinventing America’s Schools
Pollsters asked about promises of free college and the elimination of student debt, the response was anything but enthusiastic. To many voters, these are elite preoccupations that compound the advantages of the already privileged college-going cohort at their expense.
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by Will Marshall, PPI President
Sen. Bernie Sanders (I-Vt.), nurturing wan hopes of a political rebound, instead met his Waterloo in the St. Paddy’s Day primaries. He may stay in the race and scrounge delegates here and there, but his high-octane insurgency has run out of road.
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by Tressa Pankovits, Associate Director of Reinventing America's Schools
Collectively, black voters saved the Democrats from what previously seemed inevitable: Bernie Sanders’s nomination and a potential November blowout, not only against Trump but also down ballot. It is high time, then, for Democrats to stop disrespecting millions of black voters on an issue important to them: Charter schools.
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by Dane Stangler, Director of Policy Innovation
Small businesses are hurting everywhere and the pain is only going to intensify. What about new businesses? Will anyone start a new company during the COVID-19 crisis and emerging recession?
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The Progressive Policy Institute is a catalyst for policy innovation and political reform based in Washington, D.C. Its mission is to create radically pragmatic ideas for moving America beyond ideological and partisan deadlock. Join us on Facebook or Twitter on the road to November 2020.
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