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Trump Administration’s Executive Orders Fail to Address Deep Economic Distress

Tuesday, August 11, 2020
Ashley Harrington

WASHINGTON, D.C. – The Trump Administration issued four executive orders Saturday related to the COVID-19 pandemic that fail to recognize and adequately address the magnitude of the ongoing crisis and the need for massive reform. The orders are weak and inadequate, and they leave out millions who are struggling to survive in grim circumstances.

We need comprehensive legislation that rises to this historic challenge and brings the full force of our government and its vast resources to bear on these enormous societal problems.

Ashley Harrington, Federal Advocacy Director at the Center for Responsible Lending, released the following statement:

The Administration’s ability to implement these Executive Orders is unclear, and even if implemented, they are inadequate, piecemeal measures that would leave many people out and many needs unaddressed. For example, even as we face the potential for a massive homelessness crisis, the moratorium on evictions is not extended, and it is uncertain when and if even limited housing relief would be realized. The student debt measures leave out many borrowers, and many who were in default before the crisis may soon find their wages garnished, the last thing families need as the economy continues to flounder and the pandemic remains unchecked.

Only broad, comprehensive legislative relief can provide what the country needs, and the Administration should support that. We need robust support for families who are renting their homes, small business grant aid, and broad student loan debt cancellation, both for immediate relief and to jump start the economy once the crisis is over. This is especially urgent for communities of color, who are already burdened disproportionately by unaffordable debt because of longstanding structural inequities, and who are tragically experiencing the worst health and economic impacts of the pandemic.

People are suffering and will continue to do so as COVID-19 afflicts our nation and our economy struggles to stabilize. We need real relief now more than ever, not weak promises. We urge the Administration to work with Congress to take effective action to protect and support individuals, families, and small businesses, especially those in communities of color.

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Press Contact: carol.parish@responsiblelending.org