Coalition Demands Urgent Action to Save WA Economy
Federal Action Insufficient for States; Local Leaders Must Fight this Catastrophe with Policies that Meet the Triple-I Test: Immediate, Impactful, Inclusive
FOR IMMEDIATE RELEASE: Mar. 26, 2020SEATTLE - An economic catastrophe is marching in lockstep with the coronavirus pandemic, and it will be here long after our period of self-quarantine has ended. Even after the pandemic ends, Washington is at risk of being caught in a destructive feedback loop of disappearing wages, collapsing demand, and failing businesses. The most recent projections from the Economic Policy Institute predict that almost 320,000 jobs will be lost in Washington by summer – a staggering 106,000 jobs per month.
A growing coalition of organizations - including community groups, service providers, labor unions and worker advocates - is calling on our elected leaders to move quickly with bold policies that support workers, families, and small businesses across our state. The new Federal stimulus package will do little to help cities and states, especially ones that have been hardest hit, despite being hailed as the “biggest in history.” The funding for states pales in comparison to the bailout slush fund for large corporations and will be a drop in the bucket for covering revenue cliffs, particularly in states like Washington that are dependent on sales taxes. Further, the funding is intrinsically linked to public health responses, not to general economic recovery.
To adequately address this crisis, plans need to meet a three-part efficacy test: Immediate, Impactful, Inclusive. Does the policy offer immediate relief to people and businesses on Main Street? Is the policy impactful on a scale that meets the size of the problem? Is the policy as inclusive as possible, covering workers and communities who have been left in the margins by trickle-down economics?
Washington communities will weather this crisis by coming together and taking action. We are looking to our elected leaders to act now.
CONTACT: Jack Sorensen, firstname.lastname@example.org