2020 Worst Year for Economic Growth Since WWII

The U.S. economy shrank by 3.5 percent last year, according to new federal data, making 2020 the worst year for economic growth since 1946. The report from the Bureau of Economic Analysis reflects a decrease in consumer spending in all 15 categories tracked by the BEA, led by restaurants and hotels. Gross domestic product contracted… Read more »

Democrats Inch Toward Using Budget Tool to Pass Stimulus

Congressional Democrats say they are ready to move forward on an expansive COVID-19 stimulus package as soon as next week, though many of the provisions under consideration lack Republican support. President Biden has said repeatedly that he would like passage of his $1.9 trillion stimulus package to be bipartisan but both House Speaker Nancy Pelosi… Read more »

ASAE Supports Establishment of Senate D+I Office

ASAE this week joined a sign-on letter urging Senate leaders to make an institutional commitment to increasing congressional staff diversity by establishing a bipartisan Senate Diversity and Inclusion Office. The letter, organized by the Joint Center for Political and Economic Studies, cites research conducted last year by the Joint Center revealing that people of color… Read more »

Senate Finance Close to Confirming Yellen for Treasury

The Senate Finance Committee has scheduled a meeting Friday to consider President Joe Biden’s pick for Treasury Secretary, Janet Yellen, and her confirmation appears likely. The Biden White House is pushing for speedy confirmation of key cabinet members and Yellen is viewed as essential to the immediate goal of fighting the COVID-19 pandemic. Following Senate… Read more »

Democrats Weighing Next Stimulus Package

Congressional Democrats are still discussing the details of President Biden’s $1.9 trillion stimulus package and their options for bringing legislation to the floor quickly. While Biden has said he wants to give Republicans a chance to get on board with his first legislative effort as president, several Senate Republicans have recently questioned the need for… Read more »