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Monday, October 25, 2021

Second Stimulus Package- Will Congress Have A Resolution

A stimulus package is needed by the Congress at this very juncture before it adjourns for the Holidays- or the economy will get defunct. This situation is in stark contrast with the earlier handling of the economy all the way back in March when the CARES Act was enforced immediately.

The Act provided unemployment benefits– and most importantly- the stimulus checks of $1200 to almost every citizen who lost their source of income. But right now, with the second wave has already taken a solid shape- there is no stimulus package insight. 

The Long Road To A Second Stimulus Package

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Ever since the CARES Act found stability, thought for a new stimulus package was already making the rounds. In May, the Heroes Act was passed by the House- one that had an allotment of $3 trillion.

The Heroes Act had several features that were similar to the CARES Act- except that it provided more assistance to the local and the state government. The Senate- under the control of the Republican Party has yet to finalize a stimulus package- but they have been mulling over a few. In fact, one of the major proposals they have decided upon comes under a trillion dollars with no stimulus check for individuals. 

The continuous delays in the talks in Congress have stunted the growth of the stimulus package. For, apart from the scope of the package and its price tag, the Senate is divided into those who would veto any spending on pandemic relief.

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Hence, and it goes without saying, the very Republic disunity in the Government is leading to several problems on a massive scale. As it stands, the Republicans are trying their best to shield most corporations from legal disputes.

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