Even as Congress was debating its third coronavirus rescue plan — the $2-trillion CARES Act eventually signed by President Trump on March 27 — it was assumed that a follow-up measure would be necessary to forestall an extended economic downturn.The moment to assemble that measure is now upon us, with the House reconvening Thursday in a continued atmosphere of national crisis. That makes the question of what should be in the bill especially urgent.1. Get more money out … The first imperative is to ensure that there is sufficient federal assistance to meet the needs of furloughed and laid-off workers, employers, and creditors such as landlords. We should never be in a position of getting hit like this and have to scramble to respond again. Dr. Anthony Fauci Advertisement Congressional Republicans seem to be alive to this necessity. Senate Majority Leader Mitch McConnell (R-Ky.) is already on record stating that the Senate is prepared to enact an additional $250 billion for the so-called Paycheck Protection Program — loans to small businesses that can be turned into outright grants to the extent the businesses keep workers on their payroll.It was evident virtually from the start that the $350 billion allocated for… Read full this story
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