Will there be another round of stimulus checks?
There is a lot of talk about whether there not be a fourth stimulus package and more stimulus checks. Both sides feel that we need to do something. However, they are not really sure quite yet what they want to do. There is a bill floating around called the “Heros Act” the bill is going to be voted on in congress next week and if passed by Congress, the Senate and then signed into law by the President.
Why we should spend money now
Due to the extremely low-interest rates as of now, it’s extremely cheap for us as a country to borrow money and incur little interest. But, who’s lending the money? The answer to that can be complex. But for the sake of making this easy to understand, there are a few main groups of people that lend our government money.
- Investors that purchase federal bonds and securities, both it’s citizens and foreign investors
- Government agencies that make more money than they use and then “lend” to the rest of the federal government
- The federal government itself.
The next stimulus package
What I personally believe we can expect to see in the next stimulus package:
- More funding for small businesses affected by COVID-19
- More funding for hospitals, state and local governments
- funding for tacking and tracing of individuals diagnosed with COVID-19
- Payroll tax holiday
- Employee/Employer incentives to get people back to work
- Some type of direct/pay raise for front line workers
Here are some things that I think could also be included in another stimulus package:
- A prolonged stay on foreclosures and evictions
- Prolonged unemployment benefits
- Pay raises for Medical staff and Emergency service workers
Please note that this is an opinion on what another possible bill could reflect. If there is another bill it could be reflected differently.
What’s next?
Congress is set to vote on a new stimulus package on Friday, May 15th, 2020. This would be a 3 trillion dollar bill if passed and could be notified even further by the senate before it is signed into law if it is signed into law. The bill includes many of the things listed above, this monster, 1,800+ page bill would be the largest stimulus package ever passed by the united states legislative branch and could set precedent for similar, larger bills in future crises.