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Washington, D.C. – Speaker Nancy Pelosi issued this statement after Federal Reserve Chairman Jay Powell restated his support for Congress to pass additional, urgent economic relief:
"The American people and experts agree that we must ‘Think Big' to protect lives and livelihoods during the coronavirus crisis. Not acting is the most expensive course.
"Today, the Chair of the Federal Reserve Bank restated the need for Congress to immediately pass further economic relief: ‘Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. This tradeoff is one for our elected representatives, who wield powers of taxation and spending.'
House Speaker Nancy Pelosi defended the stunning $3 trillion price of tag of Democrats' pandemic relief package Wednesday as what's needed to confront the "villainous virus" and economic collapse.
"The American people are worth it," Pelosi told The Associated Press.
In an interview with AP, Pelosi acknowledged the proposal is a starting point in negotiations with President Donald Trump and Republicans, who have flatly dismissed the coronavirus relief bill headed for a House vote.
As the pandemic rages, Pelosi had just one message for Trump: "Tell the truth."
"This is a biggest disaster that our country has ever faced," Pelosi said.