Press Release ● Coronavirus
For Immediate Release: 
April 29, 2020
Contact Info: 
Mariel Saez 202-225-3130
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the Department of Commerce released their estimate of a 4.8% contraction in GDP for the first quarter of 2020

“The steep contraction in our economy in the first quarter of 2020 is alarming but not unexpected. We know this is only the leading edge of the downturn, and economic growth, unemployment, and poverty in the second quarter will be much worse. The coronavirus pandemic and efforts required to combat it will have serious short-term impacts on our economy, and we must do whatever we can to make sure they do not become long-term impacts. We also have to ensure that the most vulnerable communities can recover when the rest of the economy does so.

Putting large parts of our economy on hold to allow for social distancing to take place is necessary to save lives. Congress has taken bold steps to ensure that, when it is safe to reopen our economy, we can return to full economic activity as quickly and effectively as possible. Democrats will continue to insist on protections for small businesses and for workers and their families that help ready our economy to resurge when it is safe to reopen.

“We must stand together as one nation to defeat this pandemic. Until health experts tell us that it is safe to reopen our economy, we must continue to stay home if possible. I have no doubt that, when the time comes to reopen, our economy will come back, driven by the power of American labor, American entrepreneurship, and American resolve.”