tv Lawmakers Evaluate Pandemic Relief Programs CSPAN October 6, 2021 9:58pm-12:00am EDT
the committee will come to order. without objection, the hearing is authorized to proceed at anytime. i now recognize myself for an opening statement. as the coronavirus spreads nationwide, the economic problems are devastating. over 22 million people lost their jobs and americans cannot afford their health care. congress responded with unprecedented relief legislation. >> that response worked. they're relief package we
enacted focuses on the rescue plan that eased americans financial hardships, reduce poverty and supported a robust economic recovery. we seen census bureau data show that the pandemic relief legislation particularly the american rescue plan, helps millions of americans with basic expenses and reduce the poverty rate, even as the pandemic continued to wreak havoc. analysis of census data, we conducted by subcommittee staff, released this morning, shows that in two weeks, after the american really funds were distributed, a third of households who were behind in
rent who've declined by almost 50%. and that continued for many months. the select subcommittees analysis is confirmed by many other studies. they are urban institute estimates that the american rescue plan's relief payments, child tax credit extension, unemployment insurance extension, and other measures, all contributed to the most dramatic poverty reduction on record. with a particular decline for black americans. this summer, as the biden administration rolls out the rescue plan, advance payments
for children, families of children saw steep decline in poverty. one analysis found that just one tax credit advanced payment led to 2 million fewer children in hunger. another found that the first payment, lifted 6 million children out of poverty. data review just last week also showed that more than 3 million americans have gained health coverage through affordable care act extension measures, due to the american rescue plan's enhanced tax credits for health insurance. premiums were drove down, and a cost for driving down for
children, at a wide range of income levels. this ensured expanded access to health care, as we continue to combat the pandemic. in addition to relief measures that are directly alleviating poverty, the american rescue plan has performed a robust economic recovery. the economy has grown out a way far higher this year than most forecasters anticipated. the u.s. is the only one among the g7 nations that has already recovered and surpassed its pre-pandemic economic output. this economic growth has fueled a significant job recovery to over 3 million jobs created
since the american rescue plan passed in 2021. despite the challenges of the delta variant, driven by the unvaccinated, the u.s. will add an average of 750,000 jobs per month over the last three months. for those american family still struggling, this final financial assistance will continue to provide an essential lifeline. the dramatic progress we have made in easing financial burdens and in reducing poverty during this crisis shows that we can reduce economic disparity if we have the will. now, in order to avoid avery of
this cross us, we must find the will to do this again. the american rescue plan was devised as a temporary stopgap measure to rescue our economy from a pandemic crisis. we must now extend many of these provisions and build on them, to build a strong, sustainable and inclusive post pandemic economy. to seize this, we must ensure that children are not mired in poverty. that people have access to affordable health care, that americans have decent housing and the ability to care for their loved ones. and that all communities have the necessary infrastructure to
connect them with opportunity. extending the child tax credit expansion, making health care affordable, ensuring paid family and medical leave,. these are the elements of the build back better agenda that we must act to build a better future for all americans. before i yield to the ranking member, i want to respond to the letter he recently sent to me. after treasury secretary janet yellen testified. had i responded earlier, i
share his desire for a hearing with secretary yellen. and our staffs are working diligently with the treasury department to schedule it. the ranking member and i both ask, i would suggest, that we have direct plans to further our meeting. with that i now yield to the ranking member. >> thank you mister chairman, i look forward to those discussions to follow up and have that hearing with secretary yellen, making sure you and i can have further discussions about having discussion about the origin of covid-19, something i will talk about shortly. but first, mr. chairman, the
subject of today. my colleagues on the other side planned to use this hearing as a chance to show their massive spending bill moving before congress. before we get into that, i want to direct everyone's attention to what is happening with the coronavirus and with the biden ministration, which i thought was supposed to be the purpose of the select subcommittee. this virus has killed more than 672,000 americans. the daily death count under president biden's watch is now 2000 americans a day. almost two years into this pandemic and things are still this bad. yet we still haven't had a hearing about where the virus came from. the united states intelligence committee has failed to reach a definitive conclusion about whether the coronavirus escaped from a lab in china or got to humans through an infected animal. we are in no better position to protect the next pandemic than
we were before this subcommittee was created. they are serious questions that have been raised about whether the united states played a role in funding gain a function research at the lab that is suspected of engineering the coronavirus. lead documents from a foyer a request show that there were dollars given to the ecohealth alliance, which funded we search at the wuhan institute of virology. and over 600,000 dollars of that taxpayer money was partially used by the wuhan lab to find an altar bat coronaviruses that could jump to humans and infect them. why are we not having a hearing on this? in fact, i was just a few hours ago today, at a meeting with the prime minister of australia. one of the things we talked
about was the origins of covid. and in fact, he, the prime minister of australia, called for an investigation into the origin of this virus into the over a year ago, mister chairman. he didn't say that he suspected where it started. ed whe said shouldn't we investigate it? and you know it happened after that? china got into a trade war into australia over that question. just over that question. maybe that's guilt on that part, saying, maybe we will look into this disease, that has killed hundreds of thousands of americans, millions of globally. as soon as you say that china engaged in a trade war with australia. but at least australia did not back down, mister chairman. australia wasn't bullied by china. i wonder if anyone who is blocking and investigation are
more afraid of china then they are interested in getting to the facts of this disease. as more than 2000 americans a day are dying. we still haven't had that hearing. we will continue to press for that hearing, mister chairman. americans across the country deserve to get those answers. australia's prime minister had the guts to go and ask that question. we ought to as well if we are going to continue on the republican side, pushing for that hearing. another era, ripe for oversight, is the biden administration political interference with science. that's right. we heard president biden talking for, oh, two years, there seems to be no interference with the science. except, now that he is president, we see reports that he may be interfering with the science. this is what we've seen the
president to. first, we already know that he went around the science when he cater to union heads to keep kids out of school. the science said keep kids in school. that biden administration threw that science out the window to bow to teachers unions. they wanted to teach keep kids out of school. this is destroying millions of kids. the biden administration prematurely announced that booster shots would be available this week, telling the american people that the vaccines have diminished efficacy overtime. then two career officials involved in vaccine review at the fda departed, i had made concerns that the biden white house was pressuring the science. pressuring them to recommend boosters before there is any data that backed it up. now the fda advisory committee says, no, boosters are not
broadly necessary yet. talk about mixed messaging. talk about the biden administration interfering. maybe we should have a hearing on that. political interference at the fta, which this looks like, would be incredibly damaging to public confidence in the vaccine. and in any other drug that the fda approves. that's why ranking member comber and myself sent a letter to the fda to investigate this potential interference. by the way, more than nine months after president biden's determined as president and he still has not appointed an fda commissioner. we are in a pandemic where hundreds of thousands of americans have died. president biden, nine months in, has not appointed a head of the fda? when you look at the lack of therapeutics, some of the rudderless ship accusations
made at the fda, because they don't have a head yet -- that president still has not appointed a head of the fda. mr. chairman, maybe we should have a hearing on why the president will not appoint ahead of the food and drug administration in the middle of a pandemic. maybe we could prompt the president to actually appoint someone to the fda and write this rudderless ship, that we see so many problems coming out of. just today, the new york times cover the lack of in home testing. the fda's slow pace in approving testing, not to mention the slow pace have therapeutics. experts call the approval process onerous and inappropriate. why don't we have a hearing on that? the new york times said, covid isn't disappearing anytime soon, so long as it continues to circulate, and rapid testing is
arguably the only way that society can return to something resembling normal. there is also a migrant crisis at the southern border. thousands of people pouring in every day. we know many are bringing covid into our country. our own border patrol agents are telling us that. yet, the biden administration is more concerned with putting masks on two-year-old children then opposing these restrictions to prevent covid from coming into our southern border. surely, these are topics worth looking into. yet, we are finding ways to further fuel inflation, which we know the spending is directly fueling, and adding mountains more debt to our children. today's hearing will be used to chill the socialist dream of a welfare state. they want to raise taxes by trillions to keep spending on wasteful programs. everybody knows there is no such thing as free money.
businesses couldn't find workers because democrats insisted on paying people more money not to work then to get back to work when help wanted signs were all across our country. companies competing in something most of them cannot do. they are raising prices. that's a driver of inflation hitting families across america. reckless government spending is causing inflation. prices are up at the gas pump. even with wages going up, inflation goes up even higher, and takes away benefits families are getting. the people hit hardest from this inflation are the lowest income people. back when biden said no one making under 400,000 dollars would see a tax increase, inflation -- but they don't stop there. the tax increase plan also goes after an energy tax.
they are trying to raise taxes on things like natural gas, which many families used to heat their homes. yet, people will see double digit increases if the biden administration gets away with their tax hikes. if you are making less than 100,000 dollars, you will be paying more if president biden gets his way on these tax hikes. everyone knows that, and it will ship millions of jobs overseas. it's what was happening before we cut taxes. if we want to talk about getting our economy back on track, there is a simple answer. get government out of the way. help businesses bring back workers. help schools reopen and follow the science. the science says to do just
that. they are manipulating the science. the president continues to go around the science, continues to avoid appointing someone to run an agency that should be leading the science on things like more therapeutics. we would have less people dying every day if the president focused on that. that's why we should be having hearings on those issues, not on how to spend more money and saddle our kids with mountains of debt. let's focus on solving problems we have today instead of trying to cover up the presidents failures and whatever china did that they clearly are concerned about. if they are going after australia, maybe that should tell you something right there. that's when our focus should be. we will continue to press for that. i look forward to hearing, and i yield back the balance of my time. >> thank you very much. i'm pleased to welcome today's
witness. i welcome diane, a professor and economist who served as director of the institute for policy research. next i would like to welcome the president and ceo of the fun. doctor wilson is a tireless advocate for the well-being of children, and has highlighted the unique hardships children have faced in the pandemic.
i'd also like to welcome a professor and associate dean for research policy at the school of public policy. professor schaffer has analyzed the data faced by americans during the pandemic or and pandemic relief legislation. >> i would next like to welcome -- who serves as co-executive director at the jamestown center of poverty and inequality, which develops recommendations to address poverty and inequality, and to expand economic opportunity. finally, i'd like to welcome
the president of the american action forum. i look forward to hearing from our witnesses today on what we can learn from our pandemic response and. well the witnesses please raise their right hands? do you swear or affirm the testimony you are about to give is the truth, the whole truth, and nothing but the truth? >> you may be seated.
let the record show that the witnesses answered in the affirmative. the written statements are on the record. professor, you are recognized for five minutes for an opening statement. >> chairman clyburn, ranking member scalise, other members of the committee, thank you for the opportunity to appear today. i recognize the success. i'm an economist and director of the institute for policy research and northwestern university. as you know, the covid-19 pandemic caused tremendous economic disruption and a large decline in employment. this had a purposeful increase in participation and social safety net programs like
unemployment insurance. congressional and executive actions have further expanded the generosity of many of these long-standing programs. others were newly conceived in the crisis, such as the new pandemic payments to make up for school meals. we've found evidence these relief programs have been successful in alleviating poverty and economic hardships in. the poverty rate in 2020 was 11.4%, up one percentage point over 2019. a drawback is it doesn't take into account many of the programs designed to help low income families. we highlight their important roles in the pandemic. poverty rates fell to 9.1% in 2020. that's a tremendous policy
success. there's been a larger impact than any other study. children growing up in poverty begin life at a disadvantage. they face greater health challenges and are more likely to have difficulty obtaining steady and well paying employment in adult life. the national academy of sciences estimated that childhood poverty costs our economy between 800 billion and 1.1 trillion dollars every year. against this backdrop, a fully refundable child tax credit delivered on a monthly basis would provide reliable 250 to 300 dollars per month per child to sustainably provide financial stability for children and their parents. this is insufficient.
it will help families make ends meet, though. it will help parents focus on their work and their families. until the american rescue plan, it was only partially refundable. and as a result, one in ten children received no ctc benefits. one in four received only a partial amount. in other words, 27 million received yes or no help -- due to the american rescue plan, almost all these children received full benefits. these changes are projected to cut poverty nearly in half for children. workers and low paying sectors who previously only earned enough store --
essential workers who have been keeping our economy running during this pandemic. experience will promote long term economic prosperity, and a lot -- reducing child poverty increases education outcomes, higher test scores, improved graduation, and reduces crime. children grow up to be more likely to earn more as adults. as a result, expanding the ctc revealed a long term financial payoff. >> once the full benefits are accounted for, the net cost to taxpayers of expansion seems to be as little as 16 cents for every dollar of new benefits. it's important to consider the impacts on parents. empirical studies suggest the
income provided by the ctc is unlikely to reduce the labor supply of. parents would continue to work and few would reduce the number of hours they work. there would be tremendous long term benefits for children and their families. recently, i coauthored a letter highlighting these same points that was co-signed by 460 economists. we need to be investing more in children then we have been. thank you, and i look forward to questions. >> thank you very much, professor schanzenbach. before i yield, i want to go to the gentlemen.
with that, dr.? >> thank you, chairman clyburn. good afternoon, ranking member scalise, distinguished committee members. thank you for having me here to discuss the impact on black and brown children during the pandemic. we continue to learn. we are grateful for the opportunity to share. we have advocated for children across america. this is a nation where leaders
prioritize their well-being in communities yield the power to ensure they thrive. this has highlighted systemic inequality in our black, brown, indigenous, and immigrant communities to deal with the national crisis. families are more likely to be hospitalized, contract the virus, and died because of covid-19. a year and a half later, communities continue to struggle. 11.6 million children are in poverty in 2020. this represents the first increase in child poverty in years. fortunately, expansions reduced that hardship. now, these must be made permanent. the pandemic highlights the need of families and --
boosting the value allowed for additional growth for low income children and black and latinx children. they expanded it more than 4 million children out of poverty and begin to close racial income gaps. hispanic, -- 51% of indigenous children. for the first month, the cdc -- 3 million children they told us how important i quote -- the monthly payment more shifts with my family. another said i don't have to worry about feeding for my children. they will us back and the cdc -- congress must pass it without weakening it, and keep fighting
to make the expansion of the cdc permanent. -- child hunger and military support of universal preschool needs. the usda was given authority to feed children safe thing conveniently last year. there was a 3.3 help -- 22 million children. more than half black and brown children. congress must extend tune sure schools have the ability they need to keep children fed. millions of marginalized children have food insecurity. long term, -- closest excluding them to 9 million more children. this is critical. 10.8 million children, 58% of children of color live in households where they can't qualify for meals and have to learn to get by. congress must pass the build back better act and continue universal preschool means.
finally, we must -- get children in foster care who are caught up from support without a permanent family. when covid hit, more than half of our foster youth faced food insecurity. two thirds were lost jobs, and 37% from -- consolidated corporations act in 2021 provided 400 million dollars to help former foster youth get by, and stability for security. they expire september 30th -- keeping from poverty and being an housed. congress must -- not support so no child will be subject to poverty in the street. -- economic downturn to prevent children from the horrors associated with poverty, hunger,
housing insecurity, and furthermore, once the crisis passes, congress should adopt preventive measures to ensure families and children have support. children are gifts from god, i treasure to us. i thank you for the opportunity to speak today and look forward to see how we will care for this. >> thank you doctor wilson. we will now hear from professor schaffer, professor schaffer you are now recognized for five minutes. chairman cline board, ranking member scalise, numbers, thank you for the opportunity to speak to you today. in early march 2020, i was deeply concerned about the opportunity -- with the covid pandemic. low and middle income families. i was especially worried about families of children who have the most trouble making ends meet, and who in this and
pandemic face massive job loss as well as school closures. looking back today, there is no question this has been a time of trial for american families. it is also proven to be a time when governments worked, one public policy failed millions of family from economic crisis like we had never done before. the social safety net response ushered in by the bipartisan cares act, and continued in the december covid relief bill and american rescue plan, is truly historic. a wealth of evidence now shows that it's proven incredibly effective. i believe the success is due, in large part, to the speed and flexibility of a broad based approach to prioritize putting money in people's pockets. they do this through ei peace and expanded unemployment insurance. -- food housing and other needs, they paid down debt and got themselves on sure financial footing. themselvesmuch of my research dg
covid uses the housing pool survey. it has been in fact since april 2020. the best to serve a better help see how families deal with the economic crisis due to covid. historically high cases of unemployment, -- in line with this, this month, the usda said that annual food insecurity in 2020 did not rise for the population, and increased only modestly among households with children. i never could imagine that would be true when this crisis started. when we updated the polls data a few months later though, we could see that things took a wrong turn in november as infections rose, and the economic recovery resolved. hardship was on the rise. by the end of 2020, i believed we were headed in the wrong direction without further federal action. then, congress acted through the covid-19 relief bill and the american rescue plan. we could see the impact in the
polls data clear as day. from december 2020 to april 2021, food insufficiency flung -- plummeted by 20%, it dropped five 40%. there were reports of health problems that fell 20%. hardship has inched up in recent months and gets further way from the e iv, but remains well below levels feline last december. scores of other studies come to similar conclusions about the success of the unprecedented -- the credit scores of americans are better now than in 2019. credit card debt is lower in that fewer people are missing payments. evidence against this is true for black and americans -- black and latino americans as well as whites. -- in july 2020 compared october 2019. in other researchers, they have found -- fell off a cliff when the pandemic began in following the
cares act rebounded inaction. near to my heart is the expansion of the child tax credit. with monthly advance payments that rolled out this past a lot. this policy holds the promise to cut child poverty by 45% and eradicate its most extreme form. as those payments rolled out, we have already heard once again when the hardship dropped. we saw poverty drop and it was delivered amongst those with children. none these programs worked perfectly. some not got in the help they needed. yet, while we should all we see how we can do better, it's also critical to recognize this success we have had. this is the best, most successful response since economic -- and economic crisis we have ever mountain. it's not even close. i hope we can carry the bipartisan blueprint forward. a word of caution, expanded and plumbing insurance has expired in states where it ended early,
see no increase unemployment, but a definitive rise in hardship. i hope i'm wrong. but i expect the next few months will be better for many. i urge you to make the child tax credit permanent. this policy holds the promise to reduce child poverty, especially among children of color. it recognizes that raising kids is expensive. society has a reason to come alongside parents in that work. research indicates it will benefit from this advancement for years to come. we are at a crossroads. you have the power to try to very different path forward. i'm deeply grateful for what you have done for american family so far, and i hope you will take the next step to make a very different future possible. thank you. >> thank you very much professor shaefer. thank you congressman --
for continuing this process. i cast my vote, thank you. let us now yield for five minutes and hear from doctor holtz-eakin. doctor egan, -- thank you chairman climb in and scalise for the privilege of being here today. i want to make a point and then i look forward to answering your question. point number one is that 2020 saw an incredibly effective response to the covid-19 recession. it occurred on a bipartisan basis. in 2021, however, we needed to do something different. we have but it has not been as nearly well designed as i would have hoped. going forward, and a growth in anti poverty strategy should focus very strongly on
education, educational attainment building skills, and an environment of rapid job truth. let me explain. the response in 2020 was terrific. i would concur with dr. shaefer that this was the best response to an economic crisis we have seen. it was timely. the cares act was passed in march, the appropriation act in december, was done on a bipartisan basis, at a time when increasing cases threaten the economy. congress acted appropriately in quickly. it was done to the appropriate scale. the u.s. economy contract by 10% in the second quarter of 10%. the u.s. economy attracted by 12% in -- congress responded with an extremely strong response in
the cares act, a 10% have gdp response was necessary. and congress delivered. it was also bylined well-designed. there was lots of money quarterbacking. but on the whole, i thought the cares act targeted funds effectively. there are some design issues with employment insurance that are worth discussing. and lending facilities never turned out to be what we hoped. but on the whole it's very difficult to complain. turning the quarter to 2021, we saw something different. the american rescue plan is none of the above. it certainly is very poorly timed. at the time of its passing, the u.s. economy, if you looked at we'll time data, was going out a six and a half percent rate. there was no need for further stimulus. we should have turned the corner. it was not appropriately's carols. it was too large. 1.9 trillion that was anywhere from four to five times larger
than the estimate of the output gap, the gap between potential to produce an actual gdp. it was something that we really didn't need that much of. and it was incredibly poorly designed, it was not targeted on covid-19. in some cases there were bailouts of pension plans. nothing in the near term at all. so it flung snows tests of not being appropriately designed, and of timeless. the results were undesirable. it didn't move the needle on growth. we grew out roughly the same rate we grabbed in the first quarter. it moved a needle on inflation. first asset prices, sharp rises and cryptocurrencies, equities, home values, consumer prices. then over the fast first half of 2021, food, energy and shelter components of the cpi rose to the 10% rate.
the next in line is the build back better act. this is something that is not a probe worth proposal. research that we commissioned at the american action forum took a serious look at what happens if you raise taxes at site, spend it exclusively on productive infrastructure and are in the, and you get negative economic growth. the actual build back better act does not exclusively target productive investments. instead it expands the social safety net. it is not fully paid for and it will increase the structural deficit for years to come. that makes it undesirable for strong growth. in closing i would say that the most important thing to remember about poverty it was a should not be defined as the absence of well-being. it's the inability to be economically self sufficient. we need to focus on generating
sales efficiency, providing people with education, skills and employment skills in a rapidly growing economy with lots of jobs. i thank you for the chance to be here and look forward to your questions. >> dr. holtz-eakin? not having seen her, we will have the perfect mr. dutta-gupta. >> i am director of the george town center on poverty and inequality. i am honored to be here before this committee to talk about the historic relief measures. and the importance of permanent improvements. the policies you are discussing from the earn tax credit and caregiving supports our essential to building an equitable and prosperous nation. earlier this year, policy makers an act of the american
rescue plan, one of the largest stimulus plans in a nation history. the plan was improving but it build off of prior relief measures that significantly mitigate poverty. these temporary relief efforts, especially those boosting incomes, played a central role and stabilizing families and our nation's economy well pushing back on gender and racial inequity. unprecedented support allowed family businesses to begin to recover from the pandemic shock much faster than after 2007 to 2009 financial crisis. amidst the deepest economic and labor market contraction in generations, the united states achieved its lowest poverty rate last year. a stunning outcome attributable in large part of the federal response. the impact this year could match or exceed what was achieved in 2020, especially if
the new child tax credit reaches eligible families through a whole of society effort. unquestionably, federal relief measures have been substantial. but a response was made necessary by the twin challenges of extreme inequality and an unusually weak baseline of support for families in this country. entering the pandemic, our condiment is characterized by enormous wealth disparities and widespread gender and racial gaps in education, housing, the labor market and beyond. at the same time, the united states social protection system lacks key provisions in investment. unlike other wealthy nations, we have no national paid family medical leave program, no sick leave guarantee, no child allowance for robust. no unemployment assistance for new job seekers and noah health coverage guaranteed.
despite federal relief measures, our economic recovery has slowed. as of last month, we have 5.3 million jobs below pre pandemic levels. and up to 9 million short of the pre-pandemic trend. to ensure that our post pandemic economy is stronger than pre-pandemic economy, we will need ongoing investments to combat the systemic inequities that hinder prosperity. rebuilding our government through permanent policy changes can prevent an uneven recovery, -- everyone else feels the economic aftershocks of the recession, as happened after 2009. policy in the build back better proposals, we saw additions, would provide needed investments to help families hardest hit recovery and reduce poverty for generations to come. in particular, our protection system could be extracted
further by making expansions of the child tax credit and earned income tax credit, fully funded housing assistance, establishing family and paid medical leave, transforming educational long term care, modernizing unemployment assistance, establishing a large-scale funding stream, and ensuring that immigrant families are eligible for and can access federal support. and we'll functioning some -- economy teachers prosperity and not just the wealthy are prepared to withstand crisis. next crisis might not be national or pandemic, but it will come. returning to our preventing social policies exposes american with needless risks in the sense of climate, national security, and other threats. we have a chance to learn from, improve upon, and extend remarkable successes on the
financial security family base during the pandemic. the combination of the bipartisan infrastructure package and reconciliation bill, moving through congress, can offer american families transitional benefits including by increasing supply -- our needs, and -- paying for these could push back against concentrated wealth and power, reduce inflation, and level the playing field for small businesses and american families. now is the time for policymakers to build upon our extraordinary pandemic relief measures, and make structural changes that protect all american families and economy against future threat. thank you. >> thank you very much doctor dutta-gupta. thank you all of you for your testimony is today. i hope to now begin to question each member, they will have
five minutes. i now recognize myself for five minutes. i want to address the question to dr. holtz-eakin. i represent the district of south carolina. i studied history pretty much all my life. i know a whole lot about what happened after the great depression. it seems you measure progress by how much the economy grows. i know how the pockets are padded to represent --
i do believe that if you look at the poverty rates and reduction that we experience after the -- that would be a pretty good measurement to a lot of people -y. you're only success is one the economy grows. -- amanda loss as to how you measure success. what you would do about all those people that are back in their thirties? they don't sustain what they have done. let me remind you, i just heard
-- we must protect -- of the united states of america. -- can do it alone. if you do it, it will be bad because it's not bipartisan. that's what it sounds like to me. how can you explain that to me? >> i am certainly happy to urge congress to either spend or raise the debt limit. i am not wise enough to cancel you on how to get the votes from the senate. the consequence of failing to do so would be severe and it's something i urge you to get done. as for the first part of the question, let me say there is no one single way to success. it's certainly not the case that simply having --
implies broad well-being. i concur with that. in this moment, the important thing to do in 2020 was to address the root causes of the pandemic recession. as i mention in my opening rose -- remarks were swift and severe. those were different than any recession we had. -- in the 20th century we saw things fall. big financial crisis. this isn't like that. if you want to look at the root causes, we have to look at the coronavirus which prevented people from going to work and interfere with the operation especially the service sector that involved personal contact, henna spending of the service sector. it was largely -- by high earning american to cut back on their traveling, going to shows, staying in hotels,
eating at restaurants, all of that. as a result, the employment in that sector fell largely and filled by less americans. a respective response in 2020 brought people who were not needing anything in the way of elaborate plans and programs through the cares act, but were afraid of the public health threat. dealing with that, the congress on a pump -- bipartisan basis did a great job in 2020, that's not the job in 2021. 2021 is about how do you take those areas that have chronic poverty, those areas which did not experience rapid amounts of growth, and how do you improve the over long time? the data is quite clear. the dividing line between poverty and non poverty in the united states's work, and having people have the education skills to work, and economy growing rapid enough to have a job, an opportunity to
get work is what we need to focus on. >> i appreciate that. let me say this -- -- you are telling me that income group and why -- wealth group, why do we have an increase in the income in -- ? >> the other it did not hit in equal fashion. it hit an equally. if you are a person like myself, here recession was probably over an august of 2020, but it had taken a long time of unemployment for less, killed less experience workers and those especially concentrated in the personal sexual -- the poster child for a prolonged downturn. this recession is all about things becoming an equally. unequally. and that needed to be thought about in the response. and i think it was to a thank you, i agree.
that's why we have the american rescue act. -- >> thank you mister chairman. the chairman mr. holtz-eakin was talking about how you measure success. before the government goes on felons trillions of dollars, most will be in a piggyback somewhere, it's money that doesn't exist. and it's low income families the hardest. some of that would just be borrowed from kids, and would be used earlier as if you are being generous and spending money wildly. i would argue, charity is being generous with your own money. theft is being generous with your kids money. that's the real concern here. before we talk about how much new money they are trying to
spend, why don't we look at what actually did help improve success for families? especially low income families. i know you are familiar with the tax cuts and jobs act. we lowered our rates to make the country competitive and brought millions of jobs back to our country. if you look at what happened, unemployment rates reached record lows. lower for women, people of color, for workers without a high school degree. the economy gain yearly 5 million jobs before the pandemic. we saw businesses starting to reinvest again. making businesses and workers more productive while boosting worker wages. that's where we saw real success. workers -- soared when we cut taxes prior to the pandemic. lower and middle income families, by the way, saw a gain and wealth growth in 2018 and 2019. that is according to the federal reserve. low-income families who saw
their work increase 37%. the lowest income families benefited the most by cutting taxes, making our economy effective again, so production isn't just about gp, it's about creating a new middle class. would you agree with that assessment from the federal reserve and other result we have seen from cutting taxes? >> it was a very important reform. if you look at what this proposal is we are seeing moving before the house, to go the other direction and raise taxes, again the president is promising you make less than 400,000 dollars you won't see a dime in taxes. mr. holtz-eakin, if they get their way and raise taxes on natural gas, would only people making over 400,000 dollars may -- pay that tax? >> now. >> who would be hit the hardest from the tax increase? >> that would hit our families
with small budget to spend a bigger budget on -- >> wow, and if you listen to people up here, they are acting as if don't worry, it's just those millionaires and billionaires. it will be shielded as if no jobs will go to china as you just said, and as anybody who commented would said. if you raise taxes on things like natural gas, everybody pays it. in fact, hospitals pay it. would not health care costco up if hospitals are paying 14% increase on the hospital bills? >> it would grow up across the economy. >> we can't separate one group of people from the operation the entire economy. that's one of our basic lessons and -- >> if you look at president biden's promises, they all said, don't worry, you won't see a tax increase if you make under 400,000. all that is broken if they get their way and raise taxes and raise it by trillions of dollars. let me ask it when you look at the unemployment rate, if you
see numbers i have seen, the jobs have more job openings today than there are with people who work, there's roughly 8 million unemployed people in about ten and a half million job openings in the u.s.. and with that be one of the drivers of inflation that you are seeing right now? but >> the driver of inflation is, we have big supply constraints because we are not getting people back to work. and we have 1.9 trillion dollars into an economy that already had fiscal problems. inflation will result. >> inflation is one of the biggest problems i hear about, especially low income families. they are the ones hit hardest. let me ask you this, the president biden, his director of his national economic council, said that if americans by american they won't feel inflation. i'm not sure what world he is in.
but if this is one of the top advisers to the u.s., it's no wonder why inflation continues to soar. do you agree -- >> [noise] what >> do you agree with the way assessment, that if americans don't buy meat, they won't see inflation? >> i don't agree. >> perhaps we can have him as a witness to ask about when so many americans have struggles with inflation, before all this spending, and we are borrowing money from our children. let's stop this madness and get things back to where things were -- >> the call has stopped. >> with that i yield back the balance of my time. well >> thank you very much. we now have five minutes the
four dog. ... is ms. maloney with us? five minutes for mr. foster. >> thank you mister chair, am i audible and visible here? >> yes, sir. >> okay. one of the key parts of our fiscal response to this crisis was the direct cash payments, which went to 160 million households, which allowed americans flexibility and the freedom to prioritize their families need during the pandemic. it had a wide range of impacts. a series of relief bills, on american families making less than 150,000 dollars per year, we are seeing economic impacts payments of up to 1200 dollars per adult. and the second payments of up to 600 dollars per individual. and a third round of 1400 dollars.
professor but shaefer, you've given some striking data on material hardship. you are analysis stared the importance of the relief effort, how important it is to get relief to people through the cares act and the american rescue plan. can you tell us a little of what you saw in terms of the impact of the pandemic relief bill's economic impact payments on people's ability to afford food, basic expenses and how they affected the neighborhoods as well as the direct individuals who received the payments? >> we've really been blessed with more date at this time around that we have ever had. especially because the pulse survey, we can see how families are faring week to week. usually those payments go out, and when hardship goes out, financial stability goes out,
people are using that money to buy the grocery store, paying their landlord, that's part of why we see credit scores going up from where they were. when you think about those years, starting with the obama administration and job growth, that lasted a long growth, in industry. we are talking about families being on better financial footing than they were before then. ting thathey spend that money on utilities, propane gas provider, on health care. a recent health services research paper i had published, showed that when insurance goes out, people return to the health care office. a lot of people thought people were only staying away, at the beginning of the crisis, because of health factors. but we also know that job losses piled up and they were maybe not going to the doctor because they couldn't afford the copay. so it's really quite frightening that i think all of the witnesses, especially this
framework, with the stimulus of economic impact payments, expanded unemployment insurance impacts, really created that framework we need to take into the next four session. and i think beyond more broadly. i for one would take this recovery over any past that we have had any day of the week. >> and i think you are right about the data that we will get to. it was going to be a works trouble data. because there are a lot of myths out there about people who [inaudible] get direct payments and will just sort of clear out and sit around playing video games. one of the factors that you think made these payments so effective. and what could we do -- what can we do to improve that?
one of the key factors that you see so? far >> as mister holtz-eakin mentioned, it was a fast response. one of the great things about providing the transfers, is that you empower families to say, you use the money on the things you need the most. if you need food, go he's on food. and we saw huge numbers of families use it on food. if you need it for rent, he's it on rent. so there is an empowerment factor. but there's also this flexibility, there is a libertarian argument here to. that providing those cash transfers means we can cut through red tape, we don't have to figure out how to means test it by making sure a broader group of the population is eligible. we don't have to spend so much government resources figuring out, are you a above or below a line. when we see these payments really mattering for people well up the economic
distribution, you are seeing improvements among families who are at 60,000 or 70 dollars a year. we know we can make that money more efficient, and families use that money to meet their basic needs and they are better off for it. >> i think you mention libertarian -- was it melted freeman that said, poor people don't need government programs, they need money. i think i have heard that attributed to him. >> milton friedman was one of the proponents of a negative income tax, which goes to the same principle. when people need help, the most efficient thing to do is to provide cash and not spent a lot of money in extra services that pretend that we know the wet families need, but really they are the experts. they can make those decisions. now we have this incredible evidence in the greatest economic crisis of all-time that that strategy works.
family use the money for things to make them better off, that makes society better off. >> thank you, my time is expired now yields back. >> thank you representative foster. i recognize mrs. maloney for five minutes. >> thank you very much mister chairman. >> can you hear me now? >> okay. >> thank you mister chairman. the pandemic is underscored the importance of allowing workers to take time off from work, that they need to take care of a loved one. early in this pandemic, the congress required many large employers to provide paid sick leave to help slow the spread of the coronavirus and support workers who got sick. in the american rescue plan, congress extended tax credits
to small and mid size businesses to get workers paid sick leave. mr. dutta-gupta, i'll start with you. and your opinion, as the paid sick leave provision in the american rescue plan slow the spread of the coronavirus? >> thank you, congresswoman maloney. that's a terrific question. there isn't fact evidence that the provision of the emergency relief measures slowed the spread of coronavirus. the coronavirus relief act was studied by we searchers and found that there were around 400 fewer confirmed cases per state per day in state that gained access to paid sick leave. that would translate into one case per day per 1300 workers
who had newly-gained the option to take up -- and remember just two weeks of paid sick leave. i will note that a lot of workers, a large share, did not have access to any sort of leave. and still don't. our policy is being not mandatory for the vast majority of employers. and with a lot of carve outs for some workers. so i do hope that we learn from this, that sick leave, paid family and medical leave are genuine investments. that we build upon what we have with a more robust and universal approach. >> can you expand? how has expanding paid leave in the pandemic improved our economy? >> absolutely. so just think about somebody who cannot go without a day or weeks pay and maybe they feel unwell. and this is not that uncommon,
even at the end of the longest economic expansion, some 40% of families struggle to meet 1000 dollar emergency. the truth is that a lot of american workers are living quite precariously, even after a decade long expansion. so lots of work or show up for work when it would be good for us if we can expect slow the spread of diseases, including covid-19. they also fear for their jobs. they may not have their job back after taking time off. offering protections for workers to be able to prioritize their health or the health of a loved one, including, potentially, sick kids and others they care for, that can absolutely allow people to focus more on productive economic activity and avoid some of the substantial costs that we have
been facing in this country. >> thank you. the pandemic has highlighted many inequities and our society. vulnerable people have been disproportionately impacted by the health and economic harms of the pandemic. yeah workers of color are less likely to have paid sick leave and family leave. dr. wilson, what impact can a parents lack of paid leave have on their children's well-being? >> thank you very much for the question. clearly, some of the things that, you know, many low risk or low income families don't have -- of course is disproportionately impacts to some ploughman parents. they didn't have paid leave. more importantly, this is about
caring for a child, to care for them, every person the u.s. should have access, regardless of race or income. we know that the bonds that parents develop with their babies are critical to future learning, to relationships, to help the child develop cognitive and social development. so paid family leave would also be decent for mortality by as much as 10%. that's according to a study of 141 countries with paid leave policy. so this can reduce the prevalence of low weight birth babies. particularly, large impacts on children and black mothers. we know that there is something that helps children to be well, helps them develop the time and access or removing that access, and filtering this effect on
american children, particularly black and brown children. >> thank you. i yield back to representative foster. thank you. >> thank you. at this point i think i will yield back to chair clyde byrne to continue the proceedings. >> thank you very much. the chair recognizes congressman green is he there. >> yes. or >> you are recognized for five minutes. >> thank you mister chairman. today's hearing is another failure of this committee to address the key questions that the biden administration, congressional democrats and the media refused to discuss. despite the federal government's unprecedented spending, my colleagues across the aisle believe more spending is necessary. now that democrats are leveraging the select committee on the coronavirus, to justify trillions more on the progressive wish list.
never mind the disaster of unemployment hand outs. because the government was paying people to stay at home. never mind the spending fueled inflation eating away at americans wallets. bought any chicken lately? we will just go for a 3.5 trillion spendings free pact with bernie sanders wish list. earlier this summer, my colleagues and i held a forum where we discuss the origins of the virus that began in wuhan and the actions that should be taken to ensure throw investigation. you think maybe the american people want to know that the federal government funded gain a function research in a communist chinese lab that led to a new virus strain? yes they do. but not nancy pelosi select committee on the coronavirus. just last week, a publication in the lancet confirmed the lab leak theories validity and
failed to show the natural origin hypothesis validity. why are we not talking about that? when the evidence contradicts the establishment narrative? let's take ivermectin. the establishment seems to instantly dismiss any mention of the drug. some states are threatening to take licenses of doctors who prescribe it. the human version of ivermectin has been widely used for years in the developing world and been subscribed massively. as a analysis in the american journal of therapeutic states, i quote, observational and controlled trials are reporting repeated large magnitude improvements and clinical outcomes, and quote, why is the vaccine the only thing a democrat will consider? why are we not talking about the study and why are the media and some states trying to whip the licenses from well-trained and these who want to prescribe
it? there is a valid investigation for this committee. not going to happen though. the only signs they care about is what supports their authoritarian control. as president biden tries to pass is unconstitutional vaccine mandate, we continue to ignore the study showing the durability of natural immunity. as noted in the washington post, several studies have shown that natural immunity provides long-standing immunity against the virus. a study out of israel involving 700,000 people and, oh by the way, since we are so worried about the science, the more confident, a larger the study is, the more confidence you can have in the conclusion of that study. that study of 700,000 people concluded that those with natural immunity are 27 times
less likely to have a reaction then those vaccinated. yet we continue to insist on a one size fits all mandatory vaccine policy regardless of age or prior infection. immunity from prior infection, if it is better than that from vaccination, which many studies show, why are we kicking soldiers out of the military who have had covid, but you don't want or need a vaccine? it makes no sense unless of course you are selling vaccines. this isn't an abstract issue. it's a serious concern that has immediate, realized implications for millions of americans. many who chose not to get vaccinated because they have already had covid, they are wondering whether they will lose their jobs. if they already have acquired immunity, does it make sense to continue implementing this one size fits all policy? and force them to get both shots? she had a previously infected
person, with better immunity than that provided by the vaccine, be fired because they won't bend the knee to the authoritarian's to keep pushing vaccine, vaccine, vaccine. why can we not have a conversation about this? these are pressing questions with serious implications. this committee should explore them. the failure to do so to address the most pressing issues for americans in this pandemic. with that, mr. children, i yield. >> think you very much, dr. green. the chair now recognizes mr. jamie raskin for five minutes. >> mr. chairman thank you very much. i'm sorry that the sequencing of questioning puts the burden on me to respond with some of the disinformation we just
heard. there is a report out today which shows that the united states with the lowest vaccination rates now has the infection rate four times higher than the rest of the country. it stands to reason that the vaccine is saving peoples lives. this is a life and death matter. how many videos we have to see, of people, who themselves were very proud to get the vaccine, and told other people not to get it, who then ended up with covid-19 and are begging people to get vaccinated. and are saying there are story for participating in the propaganda and disinformation against vaccines and masks. i'm sorry to see that there are still people trying to sell that very dangerous notion against vaccines. by the way, why should a person get vaccinated if they've already had covid-19? because they can get it again. we have colleagues who have had covid-19 twice.
and people who are dying every single day from covid-19. so i don't want to participate in any way, in any of the dangerous propaganda that continues to be out there, which is causing an absolute resurgence of covid-19 across the country. but the american rescue plan and the child tax credit has already made a tremendous difference in the lives of millions of american kids and their families, according to one analysis i saw. the number of [inaudible] has gone up by 2 million. 2 million fewer are experiencing hunger because of what we passed in the american rescue plan. because of what we did in the child tax credit. columbia university estimates that the first child tax credit payment the summer lifted 6 million children out of
poverty. the very first payment under the child tax credit lifted 6 million kids out of poverty in the country. it may not seem like a lot of money to a lot of people. how much money go see each family. but it makes a huge difference in the lives of children and their families. so we are fighting to make the expanded child tax credit permanently available to kids in families with the lowest incomes. my? question is, professor, schanzenbach what difference would it make if we made the child tax credit permanent now? what kind of broader economic effects would we expect to see? what difference would it make in the life of a kid? and wha>> in a short term, likee said, we will see less hardship. low rates of hunger, poverty, etc. where i think this is crucially
important is, we know from research that these investments that reduce child poverty have long term impacts. i agree with doug holtz-eakin, who said essentially that any theory of long term growth has to involve education. for kids, the ctc eliminating poverty, is an investment that we may condemn. they will go up to be healthier. more likely to graduate from high school, etc. this will have long term positive effects. >> what difference might it make, dr. wilson, in alleviating our long-standing inequalities in income along the lines of race? >> part of the challenge we see is the income gap, a racial income gap and a racial wealth gap. both have to be addressed.
when it comes to income, the ctc has most impact for black, brown and indigenous families. when we talk about cutting child poverty in half or black families, 45%, 35% for hispanic, 65% for didn't aegean us. so there are impacts. people are more likely to find themselves in poverty -- >> for poor children of all racial backgrounds and ethnic backgrounds, lifting them up in this way, alters their life chances in opportunities, right? >> absolutely. this will lift all families, all children touched by it. by doing so it will have an effect on our entire economy, by making sure that children
are well. >> okay. well thank you mister chairman. i yield back to you and thank you for continuing to promote science and the prosperity and health of our people. >> thank you mr. raskin, mr. jordan is now recognized for five minutes. >> thank you. it was amazing to hear mr. raskin critique doctor green and a statement. this is where we are, with a lawyer critiques the doctor about natural immunity. i would laugh if it wasn't so serious. mr. holtz-eakin, is the democrats economic plan working? >> as i said in my opening remarks, the things that were done in 2020 were very effective on a bipartisan basis. the things down this you are not. >> right. the bipartisan program worked, but in the last months, declining wages --
>> yes, it has exceeded wage growth. >> -- >> first half of this year, 50% of the cpi basket that is food, and jean shelter went up 10%. >> and again dependence. we have the spectacle now of the president of the united states begging opec to increase production. i don't think that's an economic plan that's working. i think it's a failure. >> -- >> he's nodding his head, let the witness records show he's nodding his head. people pay not to work, and we are getting ready to raise your taxes. could there be a dimmer plan? >> as i said, we took the proposal seriously and went through -- i mean, it was like what the joint committee would use for analysis. and it was a net negative. >> net negative. and the american people are feeling it. let me ask you this. when you pay people not to work,
should you be surprised when you can't find workers? >> no one should be surprised about what is going on. when benefits expire, that will be a different story, and we will see it in the october jobs report. but we know from decades of research that if you raise rates, the fraction of wages that gets replaced by ei, the longer rates unemployment rate is higher. that's well-established. this is 100% replacement for 37% of workers. no one would propose this in normal times. and as the economy opened up, to do this just made no sense. >> i don't know many employers across ohio, or a nation -- no one can find -- we were driving to minneapolis, on monday morning, and i saw a
mexican restaurant, a taco stand on the window, 15 dollars an hour. in big as bold as you can see. they could not find people to work. >> it's everywhere. i have three openings to fill on my staff. >> i hope you don't. i understand the sentiment. when you tell people they can't be evicted, should you be surprised when they can't stop paying? went >> no. >> it is the dow must economic plan i have ever seen. to fiwhen it worked in a bipartisan fashion, at the start of the virus, but the same employers who tell me they can't find workers, are the same ones who did safety for the ppp program. now it absolutely makes no sense where we are going. >> i think the ppp program is the single best response. the fda got 32 billion dollars at the door. that's 500 million dollars out in a month. it was an extraordinary
lifeline to people in the small business infrastructure of the economy. >> last question. take whatever time you want. they are getting ready to raise taxes. tommy or thoughts. i think when you lock down your economy, spend like crazy, and have the highest inflation for years, when you tell people they don't have to pay rent. and then you say to people who have been paying rent, we are going to raise your taxes, i don't see how that will help our economy. >> as i said, i said, can we both agree that this is a bad idea. and they said yes. but the spending is so good you don't have to worry about it. so i think not only is the overall level troubling. but the ways are more troubling. the years leading up to the american jobs act, we lost hundreds of workers at our
headquarters. we are going to go right back to the third highest corporate tax rate in the oecd, a very high global worldwide tax. the way the taxes are being raised is troubling to me in the aggregate numbers. >> thank you, i yield back. >> thank you. [inaudible] i will refrain from doing that. i now recognize for five minutes [inaudible] . >> thank you mister chairman. doctor holtz-eakin, i had a couple of questions. the results recently came out in terms of how the money has been utilized by families
receiving the child tax credit. do you dispute that four households earning less than 25,000 dollars, the first payments were spent on food? >> i'm not an expert on those studies. >> no, i'm just asking -- >> i don't know the studies. i'd be happy to look -- >> it sounds like you don't disputed. do you dispute that 53% of households spent the money on utilities? >> as i said, i haven't read the steady so i can't dispute to agree with it. it makes sense to me but i don't know -- >> it's a yes or no question. i'm asking if you can dispute it, and i'm asking you -- >> i have no interest in disputing it. >> right now -- >> if you want to know my reservations -- >> i didn't ask about your reservations, i'm just asking, can you dispute the evidence or not. the tax credit is allowing
household less than 25,000 dollars, 41% of them are using it on clothing for their families. do you dispute that? do you have any evidence that you? >> no -- >> pointed to the -- >> the answer was no. >> okay, how about the contrary, that among households earning less than 25,000 dollars, their first payments were spent on rent and mortgage? >> no. >> how about school supplies? 31% of households earning less than 25,000 dollars spent their first payments on school supplies. school supplies. you don't have any evidence point to the contrary that that's not correct, do you? >> no. >> so let me get the story straight. four households earning less than 25,000 dollars per year, the first payments that they used were on food, utilities,
clothing, rent and school supplies. do you dispute that school supplies, clothing, rent, food, are essential expenses for the family? >> no. no. >> now sir let me point you to some of your previous statements about the expanded child tax credit. one criticism you have, and you can please correct me if i'm wrong. but i'm paraphrasing. you feel it is a disincentive to were. correct? >> no, there's no incentive to work. i didn't say it was a disincentive. it's not tied to work. >> i want to get you on the record, clearly. you are not saying that it is a disincentive to work. you are just saying there is no incentive to work. correct? >> right. >> let me just ask you this. if you are a single mom, with
children and you want to go to work what childcare is extremely expensive and you are using the expanded child tax credit to help pay for that child care, so you can go to work, and that instance, the expanded child tax credit would allow the woman or the mom to re-enter the workforce. correct? >> in that instance, yeah. >> let me ask you this. and only 57% of women are currently participating in the labor force. correct? >> we do have very low labor force participation. >> especially among women, women have dropped out of the workforce to take care of children and their elders, who unfortunately have been affected by coronavirus, or because the schools were closed. right? >> we have seen declines in both male and female participation. i think both are troubling.
>> but the bigger drop was among women? >> i can get that to you, if that's correct. >> the answer is yes, it's a very basic question. and so the expanded child tax credit allowed for these women, especially single moms, but all moms, should participate once again in the workforce, to be more productive, to expand our economy and enhance capabilities because they have the money to finally hire childcare. and that's an essential piece of the puzzle if we are actually going to build america back better and get women back into the workforce? thank you, mister chair. i yield back. >> thank you very much. >> thank you so much, mister chair. i think all of our panelists. i just want to clarify
something from my colleagues. first of all, i'm a proponent of covid-19 vaccines. i've been vaccinated. i've attended vaccine clinics and all 24 of my counties. there was not as much research and data available about natural immunity as there is now. if i may say, being a proponent of acknowledging the benefit of natural immunity, which doesn't mean people should go to covid-19 parties and get infected, but to recognize immunity is what we should be talking about, whether it's immunity from a vaccine, or immunity from natural disease. that way, we will have vaccines available for those who need them and also to treat and send to other nations. i just want to clearly make that statement that we should be talking about community.
we don't want anyone to get ill or get sick, and also to clarify, yes, people who are vaccinated can come down with covid-19, asking people with natural immunity. having a vaccine doesn't confirm that you will never contract disease. that's true for all diseases. furthermore, we should be talking about having people have proof of their immunity. i would encourage my colleagues to support a bill to mandate coverage -- may not be long present in the bloodstream, so we can prove immunity, and keep everyone in the workforce, rather than only talking about vaccine mandates. i'm going to ask the panel to be brief and their comments, if i may. doctor, you have written
extensively about the negative impacts of closures on our students. you also found it impacted low income students and impacted food insecurity. is that correct? >> yes. it really hurt our children. then >> you also mentioned three new school closures meant less access to bunch programs that the school may have been. that's had a negative impact for low income and minority students. >> yes. >> that's also related to a slight decrease in the level of poverty in our students. while these extraordinary measures have reduced poverty, worldwide poverty has increased over 15%, and may take decades to rivers. school closures had an effect on food insecurity and also a tremendous effect on the loss
of grades and -- based upon your research, i think governors and mayors who chose -- and put tens of thousands of our children at risk. this has led to kids going hungry, and it's a danger for mental and physical well-being. i think you for the research which has helped keep -- jeopardizing our most vulnerable. i know my time is running short. do you believe there inflation? are you worried about inflation? >> yes. i'm not a macro economist. >> that's okay. just yes or no. >> i believe there is inflation. i worry about children. >> okay. are you concerned about
inflation? >> yes, of course i am. unfortunately, the evidence suggests it. >> transitory and now we are in eight months of inflation. mr. schaffer are you concerned about inflation? >> i think it's something we should watch and expect. >> are you concerned about inflation? >> yes. >> as a matter of fact, it has eaten away at wages, the price of bags, the price of gasoline, and my favorite, bacon. today, the federal reserve signaled it could start reversing pandemic stimulus policies in november and earlier than anticipated. thank you very much. i think we need to be mindful
of our excesses. thank you. i yield back. >> i think that's all the members who are present. if the ranking member is there -- >> thank you, mister chairman. i want to thank our witnesses for your testimony. i will start off in my closing by once again saying, at some point in time, this committee needs to start having hearings on the real problems we are seeing related to president biden's botched handling of covid-19. we sure don't have enough time or jurisdiction to handle all the other things president biden has botched, and there's other committees to do that. but if the committee can't start looking into some of the things we've been calling on this committee to look into, it will lead to more deaths in
america. there's 2000 deaths a day in america, right now under president biden's watch. still, he has not even named a person to head the fda. the fda is the agency that approved three different vaccines under president trump, operation warp speed. where is president biden's pick for the fda? at why don't we have a hearing on that? mister chairman, if you announced today we would have a hearing next week, i would assure you by next week, president biden would pick ahead of the fda. we don't have that. we ought to have a hearing on the origins of covid. we've been calling for this for over a year. there's millions of deaths worldwide. as i said in my opening statement, i was with the prime minister of australia. he called for a hearing into the origins of covid last year, and he did it because, number
one, i don't know where it originated from, but i want to know. people in australia want to know. you look at this article, and i asked be submitted to the record. this article talks about how after australia, which didn't accuse anyone, said let's investigate the origin, which country then went after australia? china. china initiated a trade war with australia to find out where covid started. what should that tell everybody? why don't we look into? it we shouldn't be afraid of china. we should want to know where this started, so it doesn't happen again. this is something we should be having a hearing on. a family of four with two parents outwork last year made
over 100,000 dollars. that was a report initiated by republicans on the ways and means committee, 100,000 dollars. people on the democrat side act like that was wealth creation. if you can take out of 50,000 dollar credit card and max the whole thing out, you didn't create wealth. you just created 50,000 dollars in debt. whatever you bought, good for you, but you have to pay it back. it's not like you were making something. you are manufacturing something. this is money bought from our kids. when you go down the line, we just had to medical doctors on our committee, to medical doctors talking about some of the medical problems we are seeing. i said in my opening statement that we ought to have a hearing on president biden going against the science and trying to manipulate the science. and there is evidence of it. i laid it out in my opening statement. not one democrat disputed any of it, any of it.
two people involved in vaccines at the fda left because they are tired of the political interference by the biden administration, and we haven't had a hearing on that. those are the things we should be having hearings on. if we stop that, maybe then the president would pick someone to head the fda and look at more therapeutics. maybe he would find more vaccines and not just rely on the three trump ended off to him when he walked in the door, but maybe go find more, bill encourage more, go encourage their feud explore people that are in the hospital, instead of just trying to shame people if they get covid and say it's because they were unvaccinated. let's encourage people to get vaccinated. but let's go find more therapeutics. we've got the greatest medical research in the world. if they don't get their way, hr three, which would run three out of four drugs out of the
market. we wouldn't be able to get lifesaving drugs. they just put that back in the bill yesterday, there bill that will create millions more people out of work. china would love this stuff. it's a gift to china. they get more jobs to china. america would have a higher tax rate than the chinese communist party if democrats in congress got their way. as mr. jordan said, this is insanity, the stupidest policy we've ever seen. you are already seeing a negative impact on families. the lowest in income families are impacted the hardest. the lowest impacted families. what did they want to do, they want to jack up on steroids, by taxing in borrowing trillions more, increasing inflation even higher. their answer is, we will go print and give people more money and then they are rich again. we really? people know there is no such
thing as free money. they know the negative consequences of this free money. it's inflation. they are paying more money on everything. they go to the grocery store, or favorite restaurant, they are paying more money. they are seeing a third of tables empty and have to wait an hour. because the government is paying more people not to work. if they want to new microwave, it's going to cost them 30% more but they will have to wait months to get it. god help them if they have to go up and fill their gas tank. because president biden said no to american pipelines but yes to russian pipelines. yes to middle eastern countries ability to produce more oil but no to america's ability to produce more oil. we do it more efficiency. so if you are worried about climate change, president biden goes to the un yesterday, doesn't talk about confronting covid and finding out the
origins -- he talks about climate change. and these policies actually make it worse because they increased carbon emissions. he shuts down manufacturing in america and ships those jobs to china. china admits four times more carbon to make the same steel he's trying to ban an america, going after fossil fuels, begging opec to produce more fossil fuels. they make the same oil in america. stop beating up on america, stop borrowing from our kids, let's get this economy and schools back. with that i yield back the balance of my time. >> thank you very much, mister ranking member. i hear that another representative is on the way to the room. has she arrived? i will give her an opportunity
to ask questions. i understand she is not arrived. i want to thank my friend the ranking member. he met with us. and i'm chair of [inaudible] find at the recovery. but if the ranking member had been in attendance, he would have heard peter moss say, the [inaudible] . between him in the fda on the administration. he said that under oath, by the way. but you are not undergrowth. i want to thank all the
witnesses for their testimony. the pandemic has caused enormous economic pain for american families. especially those in low income and minority communities. congress in the biden administration acted boldly to alleviate these hardships. to dramatically depress poverty, and go on the path to recovery. today's hearing has made clear that the american rescue plan has delivered for families and supported our economic recovery. they direct payments, from the expanded child tax credit, the american rescue plan has delivered assistance to help working and middle class families pay for basic needs
and created millions of jobs. a return to the pre-pandemic economy is not sufficient. for too long, before 2020, far too many americans who are struggling to provide for their families and get ahead economically. the american rescue plan was designed to put back the immediate crisis. and now our task is to reduce the long-standing disparity that has been exposed and exacerbated by the pandemic. as i have said, they select subcommittee before, last year, i was criticized by the republicans and minority leader of the senate for observing that the coronavirus [inaudible]
poses a tremendous opportunity to restructure things to fit our vision. and of quote. let me take perspective. a more perfect union of liberty and justice for all. for the last several decades, our economic structure has denied liberty and justice for far too many americans. our economic structure has denied workers the same rewards as those with wealth. denied educational and economic opportunity. denied affordable health care to millions. and threatens to deny a livable planet to future generations. the american rescue plan has shown that we have the ability to restructure things to rescue
our country from immediate crisis. as this emergency emerges gradually, we are facing a choice. will we surrender the progress that the american miscue plan has made and accept a return to an economic structure that has denied liberty and justice to far too many? or will we take this opportunity to restructure things to fit our shared vision of liberty and justice for all? it is our firm belief that we must build back better. and i work to say that today, and qualify this [inaudible]
various parts of our history, i am not proud to be a part. [inaudible] what has been said, and given credit by many people, that america is great. because if people are good. and if the people of america seems to be good, america will cease to be great. it is now the demonstration of goodness for name colin. and vitriol as we see it in referring to public attempts to right the wrongs that exists in our society. it is for us to maintain elements of goodness and respect for each other and for
their efforts. that's what it takes to get this country back on track. not a lot of vitriol and disrespect for people. with that, and without objection, all members will have five dates to submit additional written questions for the chair to be forwarded to the witnesses for their response. this meeting is adjourned. adjourned. [inaudible] [inaudible]