Will Congress Get Its Act Together On Another Round Of Coronavirus Stimulus Checks?
It cost less than one-tenth of the amount Congress has approved in response to the coronavirus pandemic. But even as lawmakers begin drafting the next round of economic relief, it’s not clear there’s enough support in Washington for one of the most popular policies in years: direct cash payments.
Only $293 billion of the $2 trillion Coronavirus Aid, Relief and Economic Stability Act (CARES) went directly to individuals through no-strings-attached cash payments. (Congress has also spent about another $1 trillion in other pieces of legislation responding to the health crisis.) The vast majority of the money has been earmarked for businesses suffering from shutdowns.
The economic crisis resulting from the pandemic has only deepened, with the Labor Department set to announce Friday morning just how many millions of people lost their jobs last month.