Congress Will Likely Pass Another Covid Relief Bill – Including Direct Payments to Individuals – in the Coming Days, It’s Not Something to Applaud

Congress will likely pass additional Covid relief in the coming days, including direct stimulus payments to individuals, which should help bolster a struggling U.S. economy.

But, I, for one, won’t be applauding this effort.

Not because I don’t believe the relief and stimulus monies are needed – they most certainly are.

No, it’s because congratulating the accomplishments of our elected officials at this point would be akin to giving the captain of the Titanic a round of applause as the ship began its slow descent into the icy waters.

Congress should have passed the provisions that are now under consideration in July…August at the latest.

They did not.

And we’re now seeing that it was purely for political reasons.

I knew that at the time, but the farce continued to play out as a “negotiation” that just couldn’t quite get there before the November election.

Need proof? U.S. House Speaker Pelosi all but admits it during a post-election press conference where she states, “A new president and a vaccine,” as the reasons why she’ll allow a vote on the current Covid relief bill, even though it is significantly smaller than the $2.2 trillion legislation she would not negotiate below just a few months ago.

When asked if not passing a smaller relief bill prior to the election was a mistake, she responded, “That was not a mistake. It was a decision, and it has taken us to a place where we can do the right thing.”

Nice. It’s always good to see our elected leaders putting the interests of the Americans they represent ahead of their own.

I’m sure the business owners who had to close down for good, the employees who no longer have jobs and the many Americans who overdosed or committed suicide as a result of financial strain from summer through fall are glad she decided political game-play was more important than actually passing relief legislation in a timely manner.

Members of Congress really should be ashamed of themselves. Most are not.

And that’s why I’m not applauding the efforts that are now being put forth by Congress.

The Latest Covid Relief Effort

That said, the latest relief bill is needed and will help to keep the U.S. economy from sliding backward as its upward momentum stalls.

Some of the bill’s provisions include:

• A second round of direct stimulus payments in the range of $600-$700 per person
• Extend existing unemployment programs’ duration and add a $300 per week federal supplement to state unemployment payments for 16 weeks
• $300 billion to fund additional Paycheck Protection Program checks for small businesses
• $25 billion for rental assistance
• Extend the current federally held student loan forbearance until April 2021

Schools will receive approximately $82 billion and $10 billion will go to child-care providers.

Additional provisions include:

• $45 billion for airlines, airports and public transportation
• $13 billion to farmers
• $10 billion to expand broadband access
• $12 billion to help low-income and minority communities

And, finally, states and health care facilities will receive funding to assist with health care costs and vaccine distribution.

A little over $50 billion will be earmarked for various health-related sectors, with health care providers receiving the lion’s share, roughly $35 billion.

It really is something to be talking funding numbers like these. For those not familiar with government spending, it’s likely these amounts are no big deal.

Let me assure you, these are a huge deal. The amounts being bandied about are significant, even from a federal government standpoint.

But, as I’ve said in previous posts regarding Covid relief, these dollar amounts are necessary to keep individuals and the overall economy from economic disaster.

It’s important to note, the details listed above are only “leaked” provisions.

It won’t be until a bill is actually passed that we’ll know the specific numbers and policy initiatives that are included.

And, there’s a possibility that nothing will be passed before the end of 2020 and this current Congress.

It depends on exactly how disfunctional our federal legislative bodies have become.

That sure would be a fitting end to one hell of a year.

I’m hopeful that won’t be the case, though. Current congressional discussions appear to lean more toward action rather than inaction.

So, now we sit back and wait for word on what those in D.C. have decided.

The good news…if you can call it that…is we only have a few weeks left to wait.

We’ll provide a detailed update if/when relief legislation is passed.

Capitol image courtesy of Architect of the Capitol