June 15, 2020 – Today, America’s Recovery Fund Coalition (ARFC) launched a national “Going Out of Business” advocacy campaign highlighting the bleak economic landscape created by COVID-19, emphasizing the need for Congress to immediately create a Recovery Fund.
“It is time to accept our shared economic reality: America’s recovery will be long, slow, and, without further fiscal support from Congress, unnecessarily painful,” said Trevor Hanger, research director for ARFC. “With over 150 members from across all sectors, our Coalition is imploring Congress to help and to help now. All in all, our Coalition makes up 45 percent of the workforce, employing 58 million workers. And they are all asking for a Recovery Fund.”
In addition to providing ARFC members with resources to contact their congressional representatives and tell their personal stories, the Coalition released an infographic showing how high unemployment, business closures, and reduced revenue for businesses that manage to stay open create a deflationary spiral that will prolong America’s economic recovery.
“The Great Recession has taught us that jobs are destroyed much more quickly than they are recovered. The Fed is forecasting high levels of unemployment for years to come,” added Hanger. “Without America’s Recovery Fund to help businesses retain employees while meeting other operating expenses, the continued loss of small businesses will have serious long-term effects on local communities in terms of employment, tax revenue, and the basic vibrancy of everyday American life. Congress must hear the voices of our members loud and clear and side with the needs of Main Street. Our elected leaders must create America’s Recovery Fund to guarantee our nation’s economic recovery.”
About America’s Recovery Fund Coalition
America’s Recovery Fund Coalition represents 45 percent of the United States workforce. With more than 150 members across retail, restaurants, theaters, gyms, salons, real estate, the travel industry, financial services, construction, and equipment suppliers, we represent a combined 58 million American workers. We are asking Congress for support to help our businesses, workers, and communities recover. Learn more at www.AmericasRecoveryFund.org.