Next Stimulus Package Mini Update – May 26, 2020

There are numerous stimulus package bills out there. The Senate has one that was proposed before the recess. The HEROES Bill is now awaiting action in the Senate as well. There are easily 6+ other bills being floated in both Houses. Today, the Senate Majority Leader announced a new bill the Senate will consider that looks at what worked and didn’t work in the CARES Act, but also be less expensive than the HEROES Bill which is $3 trillion. Finally someone in Congress who gets we can’t keep spending lots of money we don’t have to address the pandemic. I am sure once the next budget bill gets passed for Fiscal Year 2021, they will forget this tidbit.

At some point, the $24+ trillion deficit will come back to haunt us. By the time it does, it will probably be a lot higher than $24+ trillion. I believe it will happen a lot sooner than many think.

I don’t see the HEROES Bill passing as the price tag is way too high. However, Democrats, Republicans, and the President are all for another stimulus package. Some of the proposals are so far out there and cost much more than the HEROES Bill, I don’t see them getting passed. Plus, it’s an election year which makes it more likely something will get passed. It helps that both sides agree another stimulus package is needed.

 

About Wichita Genealogist

Originally from Gulfport, Mississippi. Live in Wichita, Kansas now. I suffer Bipolar I, ultra-ultra rapid cycling, mixed episodes. Blog on a variety of topics - genealogy, DNA, mental health, among others. Let's collaborateDealspotr.com
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