[US] ‘Menu Of Options’ For Next Stimulus Bill

18 JUN 2020

President Trump has previously said there is “no rush” for a fourth stimulus round but, in more positive news, the president is instructing the team of Senior White House advisor Kevin Hassett to create a “menu of options” of what the next stimulus bill might include. Forbes broke down some of its likely contents.

As federal lawmakers talk over the next stimulus package, reopening has begun across much of the US. Concerns have been expressed that once people get back to work, a “V-shaped” recovery would mean no further stimulus is required. It is likely to be a month before people learn what “Phase 4” will offer. Congress will not begin discussions in earnest until July 21, after it comes back from July 4th recess.

Speaking during a June 9 virtual summit, Kevin Hassett said that the probability of another stimulus round is “very, very high.” (Link via original reporting)

Forbes considered the available fiscal tools and what might be in this “menu” to assist individual Americans and Main Street. The options include:

  • $1,200 stimulus payment

  • Payroll tax waiver

  • Both a second cheque and a payroll tax waiver

  • Extension of CARES Unemployment Benefits (set to expire July 31)

  • Back-to-Work Bonus

  • Targeted Small Business Aid

  • Other Stimulus Act Proposals

  • HEROES Act

  • Skills Renewal Act

  • Emergency Money for the People Act

  • State and Local Relief Measures including;

  • Caring for the homeless

  • Food delivery for the needy
  • Rental assistance
  • Hazard pay for essential workers
  • Technology upgrades to encourage working at home

At present, Federal lawmakers are taking a wait and see approach for drafting the fourth stimulus bill. The forthcoming unemployment figures and daily COVID-19 testing reports will help leaders decide the most appropriate options for stimulus going forward.

Source: Forbes