Statements on Introduced Bills and Joint Resolutions

Floor Speech

BREAK IN TRANSCRIPT

Mr. SCHUMER. Mr. President, now on the main topic this morning, I am proud to support Senator Wyden and Senator Bennet. As the number of COVID-19 cases accelerates across much of the country, the economic toll of this pandemic continues to fall hard on American families and American workers. Over 33 million Americans--at least one-fifth of the entire workforce--have now applied for unemployment assistance since the pandemic began.

Democrats secured a crucial enhancement of that unemployment assistance in the CARES Act--an extra $600 a week, which, according to a study by Columbia University, prevented as many as 12 million Americans from slipping into poverty. By the end of this month, those emergency unemployment benefits will expire, but unfortunately the high levels of unemployment will not. Without an extension of enhanced benefits, Americans struggling without work will have their legs cut out from under them at the worst possible time, in the middle of a raging pandemic.

I am joining with my colleague, Ranking Member Wyden of the Senate Finance Committee, to introduce a bill that will serve as both a short- term solution and a bold long-term strategy to keep American workers and the American economy afloat. I thank Senator Wyden for his help and Senator Bennet for his help. Together, we put together a very strong piece of legislation.

Our bill, the Schumer-Wyden American Workforce Rescue Act, would do something very simple: It would tie the extension of enhanced unemployment benefits to economic data, not arbitrary political deadlines. As long as unemployment remains very high--over 11 percent-- the enhanced benefits will stay in place. When unemployment goes down, the benefits will phase out appropriately.

This automatic stabilization for unemployment benefits would be one of the first programs of its kind, but at its core, this policy is basic common sense. When Americans truly need the benefits, the benefits will be there. When the economy gets better, those enhanced benefits will be reduced. The impetus for this legislation is common sense. We should not allow the economic security of the American people to depend on the political whims of the legislatures--Federal or State.

When we passed the CARES Act over 2 months ago, Democrats knew the extra $600 in weekly unemployment assistance was only a temporary salve for struggling Americans. We had hoped the economy would be able to bounce back and unemployment would quickly go down. Clearly, that is not the case today.

Experts are warning us that the economic drag from this crisis will take years, if not a full decade, to fully abate. Further action is very much needed and very, very necessary. But for months, Republicans have doubled and tripled down on their strategy of delaying action on COVID-19 relief legislation. They have kept the American people needlessly wondering if the help they rely on will remain in place much longer.

We need to take the next step and tie unemployment benefits to economic triggers that will ensure that so long as Americans are hurting, a safety net will remain in place--whether it is COVID-19 or any other economic disaster in the future that causes unemployment to rise. That is how you give the American people the kind of peace of mind they need that they will not needlessly fall into poverty this year or next year or the year after.

No doubt, this is a new idea. It would be one of the first programs of its kind. But we need to take this bold step forward to guarantee that the Federal Government effectively serves the American people in times of crisis.

There is a long road ahead before the U.S. economy gets back on its feet. In many parts of the country, States are reimposing restrictions on businesses, restaurants, and other places of employment to halt a renewed spread of the disease. Americans will continue to wonder, when can I get back to work?

I am proud to join my colleagues and champion this legislation to provide unemployment benefits for as long as Americans need them-- provide unemployment benefits for as long as Americans need them.

Before I yield, I want to thank my colleague Senator Wyden for championing this legislation as well. He has been a leading and fierce advocate for this policy in our caucus, and I am both grateful and proud to stand with him this morning. I also thank Senator Bennet, who is always thoughtful and thinking on to the future--one of the first Members to alert this Chamber and the country of the disparities in income and wealth distribution--and has had vital input as well. We thank him.

This policy is smart, it is timely, and it is forward-thinking. So it is no surprise that my colleagues, Senator Wyden--one of the authors-- and Senator Bennet have had great input.

BREAK IN TRANSCRIPT

Source