The Bill Holds Sky-High Support as Economists Predict It Will Help Produce Rapid Economic Growth Not Seen in Decades
Urban-Brookings Tax Policy Center: The American Rescue Plan Will Give the Poorest 20 Percent of Americans A 20 Percent Income Boost And Cut Taxes For Families By Thousands of Dollars
With the House poised to pass President Biden’s landmark American Rescue Plan, the critical legislation scores high marks both in polls and with economists.
Recent polling by Morning Consult, Data for Progress, and the Pew Research Center shows that roughly 70 percent of Americans support the American Rescue Plan.
This support comes as economists are predicting the plan will jump start the economy, leading to massive economic growth not seen since the 1980s. Importantly, the bill provides direct help to those who need it the most. A new study by the Urban-Brookings Tax Policy Center shows that the legislation will provide a 20 percent income boost to the poorest 20 percent of Americans while also providing much-needed tax relief to families, with the average family with children saving over $6,000 in taxes due to the ARP.
New Morning Consult, Pew And Data For Progress Polls Show Overwhelming Support For American Rescue Plan
- Morning Consult: 75 Percent Of Americans Support A Stimulus Package That Includes $1,400 Stimulus Checks, $350 Billion In Emergency Funding For States, Funding To Reopen Schools, And Increases Unemployment Benefits Until October 2021. When Americans were asked, “Would you support or oppose a $1.9 trillion coronavirus relief package that provides up to $1,400 in direct payments to Americans making less than $75,000 a year, $350 billion in emergency funding for state and local governments, funding to support K-12 and higher education to re-open, and extends increased unemployment benefits until October 2021?” 75 percent of respondents supported this plan while only 18 percent of respondents opposed the plan. [Morning Consult, 3/6-8/21]
- Morning Consult: When Americans Were Asked If A $1.9 Trillion Stimulus Package Was Too Much, Not Enough, Or The Right Amount Of Spending, 45 Percent Of Respondents Said It Was The Right Amount While 21 Percent Said It Was Too Much And 24 Percent Said It Was Too Little. When Americans were asked, “Do you feel that a $1.9 trillion coronavirus relief package that provides up to $1,400 in direct payments to Americans making less than $75,000 a year, $350 billion in emergency funding for state and local governments, funding to support K-12 and higher education to re-open, and extends increased unemployment benefits until October 2021…?” 45 percent of respondents said this offered the right amount of support while 21 percent said it offered too much support and 24 percent said it offered too little support. [Morning Consult, 3/6-8/21]
- Data For Progress: 69 Percent Of Americans, Including 54 Percent Of Republicans And 65 Percent Of Independents, Support The American Rescue Plan After Given A Brief Description Of Its Contents. “In our polling, we first asked likely voters whether they supported or opposed the American Rescue Plan after providing them with a brief description of its contents. Sixty-nine percent of voters support the bill, and we find this support holds strong across parties: 84 percent of self-identified Democrats, 65 percent of Independents and 54 percent of Republicans support the legislation.” [Data for Progress, 3/9/21]
- Data For Progress: 83 Percent Of Americans Support The American Rescue Plan’s Grants To Small Businesses. “We next tested individual support for the main provisions in the bill — a question we previously polled at the start of February. We find that support has not wavered in the past few weeks. Likely voters continue to overwhelmingly back the bill’s substance, including grants to small businesses (83 percent), additional stimulus checks to most Americans (78 percent), funding to help schools reopen (75 percent), and extensions to unemployment benefits (71 percent).” [Data for Progress, 3/9/21]
- Data For Progress: 78 Percent Of Americans Support The American Rescue Plan’s $1,400 Stimulus Checks. “We next tested individual support for the main provisions in the bill — a question we previously polled at the start of February. We find that support has not wavered in the past few weeks. Likely voters continue to overwhelmingly back the bill’s substance, including grants to small businesses (83 percent), additional stimulus checks to most Americans (78 percent), funding to help schools reopen (75 percent), and extensions to unemployment benefits (71 percent).” [Data for Progress, 3/9/21]
- Data For Progress: 75 Percent Of Americans Support The American Rescue Plan’s Funding To Help Schools Reopen. “We next tested individual support for the main provisions in the bill — a question we previously polled at the start of February. We find that support has not wavered in the past few weeks. Likely voters continue to overwhelmingly back the bill’s substance, including grants to small businesses (83 percent), additional stimulus checks to most Americans (78 percent), funding to help schools reopen (75 percent), and extensions to unemployment benefits (71 percent).” [Data for Progress, 3/9/21]
- Data For Progress: 71 Percent Of Americans Support The American Rescue Plan’s Extension Of Unemployment Benefits. “We next tested individual support for the main provisions in the bill — a question we previously polled at the start of February. We find that support has not wavered in the past few weeks. Likely voters continue to overwhelmingly back the bill’s substance, including grants to small businesses (83 percent), additional stimulus checks to most Americans (78 percent), funding to help schools reopen (75 percent), and extensions to unemployment benefits (71 percent).” [Data for Progress, 3/9/21]
- Pew: 70 Percent Of Americans Support The American Rescue Plan, Including 41 Percent Of Republicans And Republican-Leaning Independents. “As the House of Representatives prepares to give final approval to the Biden administration’s $1.9 trillion coronavirus relief package, a sizable majority of U.S. adults (70%) say they favor the legislation. Only about three-in-ten (28%) oppose the bill, which provides economic aid to businesses, individuals and state and local governments. While congressional votes on the legislation have been deeply divided along partisan lines, 41% of Republicans and Republican-leaning independents support the measure. The bill draws overwhelming support from Democrats and Democratic leaners (94% favor).” [Pew Research Center, 3/9/21]
- Pew: 57 Percent Of Americans Say The Biden Administration Made A Good Faith Effort To Work With Republicans On The American Rescue Plan. “The new national survey by Pew Research Center, conducted on the Center’s nationally representative American Trends Panel March 1-7, 2021, among 12,055 adults, finds that a majority of the public (57%) says the Biden administration made a good faith effort working with Republican congressional leaders on the coronavirus aid package.” [Pew Research Center, 3/9/21]
Economists say the American Rescue Plan will lead to “unprecedented” economic growth:
- The American Rescue Plan Is Projected To Help Propel The US Economy To Its Fastest Annual Growth In Nearly Four Decades. “The nearly $1.9 trillion relief package heading for House passage Wednesday is projected to help propel the U.S. economy to its fastest annual growth in nearly four decades, reduce poverty and revive inflation. The legislation—following trillions of dollars in federal aid last year and arriving amid rising Covid-19 vaccination rates—prompted economists surveyed by The Wall Street Journal in recent days to boost their average forecast for 2021 economic growth to 5.95%, measured from the fourth quarter of last year to the same period this year. That was up from their 4.87% projection last month and would be the U.S. economy’s fastest since a 7.9% burst in 1983.” [Wall Street Journal, 3/10/21]
- Oxford Economist: The American Rescue Plan Is “Unprecedented” And Could Add 3 Percentage Points To The US GDP Growth In 2021 And Between 3 And 3.5 Million Jobs. “‘It’s unprecedented,’ Oxford Economics chief U.S. economist Gregory Daco said of the fiscal response to the pandemic. He expects the latest legislation to add 3 percentage points to U.S. GDP growth this year, and between 3 million and 3.5 million jobs.” [Wall Street Journal, 3/10/21]
- The Organization For Economic Cooperation And Development Said The American Rescue Plan Combined With Faster Vaccinations Could Increase US GDP Growth By 3 Points In 2021. “The U.S. recovery is also expected to underpin a stronger global comeback. The Organization for Economic Cooperation and Development said the latest aid package, along with faster vaccination, could increase U.S. GDP growth by 3 percentage points to 6.5% in 2021, measured year over year, and help drive demand for U.S. trading partners, including Canada, Mexico, China and euro area countries.” [Wall Street Journal, 3/10/21]
Urban-Brookings Tax Policy Center: The American Rescue Plan will provide a 20 percent income boost to the poorest 20 percent of Americans, sharply cut taxes for families:
- The American Rescue Plan Will Give The Poorest 20 Percent Of Americans A 20 Percent Boost In Income. “President Biden’s $1.9 trillion COVID-19 relief package will give the poorest 20% of Americans a 20% boost in income, according to an analysis by the non-partisan Urban-Brookings Tax Policy Center. Why it matters: Biden and Democrats have touted the ‘American Rescue Plan’ as one of the most impactful anti-poverty bills of this era. Sen. Bernie Sanders (I-Vt.) dubbed it ‘the most significant piece of legislation to benefit working people in the modern history of this country.’” [Axios, 3/9/21]
- Families With Children Will See Their Taxes Cut By An Average Of More Than $6,000. “Details: The legislation would lower federal taxes in 2021 by an average of $3,000, while raising net incomes by some 3.8%, per the analysis. Families with children would see their taxes cut by an average of more than $6,000. On a national scale, the relief package would cut taxes by some $467 billion in 2021, and about $590 billion over 10 years.” [Axios, 3/9/21]