Congress is returning to work, but what they do next is still up in the air.
The US Senate returned this week and the House is expected next week. While leaders in both chambers believe something more must be done when it comes to COVID-19 response, what happens next is unclear.
Bailout For Cities
Speaker Nancy Pelosi has called for a $1 trillion bailout to help with cities and states financially impacted by the pandemic.
However there appears to be some early resistance to that from top Republicans, including President Donald Trump and Sen. Mitch McConnell, who previously called it a “blue state bailout.”
“I think there’s a big difference with a state that lost money because of COVID and a state that’s been run very badly for 25 years,” President Trump said last week.
Sam Weaver, the mayor of Boulder, Colorado, said this week his city is looking at millions in tax revenue lost. Boulder was too small to qualify for assistance previously.
“Our budget is going to be very impacted by this,” Weaver said. “We are very sales tax dependent. We think we are going to be about $40 million short.”
More Money For Small Businesses?
The first round of loans were gone in 13 days. While money for round two is still available, leaders on both sides have hinted more may be needed.
National Economic Council Director Larry Kudlow told CNN “it may be,” when asked whether a “round three” might be needed.
A Second Stimulus Check?
Some Democrats have called for a second check to Americans to help pay for financial damages suffered during this pandemic.
Rep. Ro Khanna (D-CA) and Rep. Tim Ryan (D-OH) have introduced a bill to provide a $2,000 check. However, the legislation has failed, thus far, to get much attention of Republican lawmakers in the Senate.
President Trump has hinted any additional stimulus check would have to include a payroll tax cut, which Speaker Nancy Pelosi has previously dismissed.
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