Tuesday, September 1, 2020

Congress Debating Stimulus-Focus on building business to improve quality of life.

Congress is debating market intervention spending of $500 billion and it appears that Republicans and Democrats are pretty far off from each other. Thus far one side wants to reduce the current $2.2 billion price tag. It is possible that members will vote for a scaled down version which creates some partisanship theatrics. People want some type of stimulus so pressure will mount on both sides. Where and how that money will be spent will determine whether or not its wasted money or it helps rebuild the economy and people's lives. 

Republicans are sought to bring back jobs, help kids and liability protections through the HEALS Act. They had to go back to the drawing board so I'm wondering what some of the changes will be when it comes out. At present we know that there is more money for PPP, testing, schools, health & human services.

I think the issues are the amount of money available and where that money is allocated. Personally, I think we have a shot at launching ourselves forward into a new level of economic activity if we harness change, strengthen the fundamentals for industry and ensure that people's health needs are taken care of. However, we are talking about a significant $300 difference to unemployment each week and that will be a big hang up.. That is a lot of money for people who are struggling. 

I can say that I hope we take this opportunity to think about how to push the economy forward through the use of enhancing our manufacturing capacity, education, and science to create industry innovation. We cannot neglect the long adjustments we might need to focus on in terms of walkable neighborhoods and better health policies. 

Klein, B. & Mattingly, P. (September 1st, 2020). Senate GOP leaders look to lock down Republican support for new stimulus plan after weeks of party divisions. CNN.

Kenton, L. (August 31st, 2020). Steve Mnuchin says Trump wants to provide another round of stimulus checks to help America's kids and bring back jobs, but Democrats are refusing to negotiate 'in good faith'. UK Daily Mail.

Turner, T. & Pecorin, A. (September 1st, 2020). 
Senate GOP poised to offer slimmer COVID-19 relief bill after Mnuchin testimony

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