White House economic adviser says additional coronavirus stimulus package might not be necessary
Source: CNN
(CNN)White House economic adviser Kevin Hassett said that another round of coronavirus relief legislation might not be necessary, as Democrats push for Congress to provide more federal funding to cash-strapped state and local governments.
Congress has already passed trillions of dollars in unprecedented legislative relief in response to the pandemic, but the scale of the devastation that the crisis has inflicted has led lawmakers to consider another round of aid. Several states have started lifting their stay-at-home orders and reopening their economies, despite health experts advising otherwise and testing not yet being readily available.
"I think right now, because there's been good news really, that the opening up is starting to happen faster than we expected, appears to be doing so safely, then there is a chance that we won't really need a phase four," Hassett said on Fox News Saturday morning.
Negotiations are underway over a fourth stimulus package -- or "phase four" of the coronavirus response -- and Congressional Democratic leaders have made clear that a top priority for them is funding for states and localities.
Read more: https://www.cnn.com/2020/05/02/politics/coronavirus-stimulus-congress-kevin-hassett/index.html
now that the wall street banksters got their 6 trillion everything's good
SleeplessinSoCal
(9,123 posts)Dispense that to the states who need to pay first responders.
rso
(2,273 posts)At this point, it unfortunately cannot be retrieved.
This is precisely why Speaker Pelosi should have insisted on democratic priorities being included in the earlier package, when she had maximum leverage. Dont get me wrong, I think she is an outstanding Speaker, but republicans must be treated like the mobsters they are.
Bernardo de La Paz
(49,011 posts)Wellstone ruled
(34,661 posts)With looming 25-30% unemployment starring us in the Windshield. And with State Budgets being drained and many of those are Red States,there will be another package by October. Do not think for a minute,the likes of Kentucky and the Carolina's or Florida or Texas can make do. The metrics are not there,their state coffers are yet to be hit with Unemployment,and Medical Costs just like New York and other Blue States.
modrepub
(3,496 posts)Red Counties/Blue Counties: It's the same thing at the state level. In most cases it's just a handful of counties in any state that produce the bulk of the tax receipts. For the most part, those are the areas hit harder by the COVID-19 lock downs. While some say it's population density, and to some extent it is, it's probably mobility via financial affluence that's driving the virus spread more than anything else. Affluent people are much more socially mobile in their daily lives than people with less financial resources.
In my state (PA), the areas impacted the most are the areas that historically have generated almost half of the state revenue. They are also the area's closest to NY City (and there is a hell of a lot of movement between the eastern part of this state and NYC than most people realize).
I've said this a lot of time here at DU, there needs to be legislation at all levels minimizing the transfer of tax receipts to areas that can't support themselves. The reason a lot of "blue" areas have higher taxes is because, in a lot of instances, they have to make up for lost revenue being filtered out of their areas at the state and federal levels.
Wellstone ruled
(34,661 posts)Nevada has one County that generates the bulk of the States Budget Dollars. And that is Clark. The City of Las Vegas is a separate Political Entity from what is known as the Strip. The Strip area as well as the Airport are in what is known as Unincorporated Clark County with the most Powerful Governing Body in the State. Revenue generated on the Strip via Hotel-Motel and Sales Taxes are shared with all 16 Counties in the State.
So all those Tea Billy Counties out State,they would dry up and blow away if it was not for the Revenue from Vegas. Known for our Silver Mining which used to supply the single largest State Source of Revenue,we now have lost that source as a result of the Mining Lobby working the previous GOP run Legislatures to make the Mining and Minerals Tax voluntary. Instead of tens of millions in Taxes paid,it is now,oh well,here is a few million.
Newest Reality
(12,712 posts)We got ours, go get yours.
The thing is, the economic side of the systemic collapse is just getting started for the rest of us, at least. Plus, we haven't even come to the invertible stock market collapse, which is when this will matter again, I guess.
Hey America! Jobless, hungry, homeless now? Well, you worthless cretins, you were expecting help? UBI maybe? Oh, you want to lose your dignity by getting a what? More stimulus? A bailout? Are you kidding? That's a laugh! Just where did you get the ridiculous notion that this was about you or human life? Are you having delusions and mental health issues again?
No, you all get a big slap in the face over and over and over again. Then, we take out the boot that stomps on the human face forever...and...were done.
We NEED a phase four that deals with the above or we are going to literally see the results on the streets. There should be a UBI, at least until this is over, (I think it should be permanent) if you want to prevent chaos and abject poverty for millions.
mpcamb
(2,871 posts)There are workers who haven gotten their relief checks yet!
There are megaweathy who got money and need to be embarrassed enough to turn it back!
There are yet NO WAYS to make them!
REVAMP.
Revamp,
revamp till we get it right!
elleng
(130,974 posts)than we expected, appears to be doing so safely'
FirstLight
(13,360 posts)We haven't even BEGUN to see the toll of re-opening yet...
yaesu
(8,020 posts)turbinetree
(24,703 posts)maybe we should pass legislation to cut off all funds to Kevin Hasset and any other cronies.................and have them file for unemployment........and get denied..........this jerk thinks that everything is just fine and dandy.............he must have failed economics 101, or did he attend a class at the university of trump................................
global1
(25,253 posts)the Covid-19 death rate starts going up again.
sinkingfeeling
(51,460 posts)No help for cities and states, no non-liability for businesses.
ancianita
(36,098 posts)paleotn
(17,931 posts)Would you like a Mussolini stretch? I hear it's all the rage with the rich and deposed.
JmAln
(69 posts)Trump is well on his way to becoming the next Herbert Hoover. The good news is he'll be gone after November, hopefully.
Skittles
(153,169 posts)we hope he will be gone but it's disturbing a buffoon like him ever became president - the Electoral College has given us two outvoted nitwits, it's NOT working in America's best interests, that's for sure