Coronavirus Economy: What We Know About The GOP Stimulus Package

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$600 unemployment checks are about to stop. Congressional Republicans have put forward a stimulus plan. We’ll dig into the details. Guests Claudia Sahm, director of macroeconomic policy at the Washington Center for Equitable Growth. (@Claudia_Sahm) Kenneth Rogoff, professor of economics and public policy at Harvard University. Co-author of “This Time Is […]

$600 unemployment checks are about to stop. Congressional Republicans have put forward a stimulus plan. We’ll dig into the details.

Guests

Claudia Sahm, director of macroeconomic policy at the Washington Center for Equitable Growth. (@Claudia_Sahm)

Kenneth Rogoff, professor of economics and public policy at Harvard University. Co-author of “This Time Is Different.” (@krogoff)

Heather Caygle, Politico reporter covering Congress. (@heatherscope)

From The Reading List

Politico: “‘It’s a mess’: Republican senators deride key proposals in GOP virus package” — “he jockeying on Capitol Hill underscores how far apart both parties remain — and the treacherous path Senate Majority Leader Mitch McConnell faces as he confronts internal GOP divisions and kicks off negotiations with Democrats.”

Washington Post: “Coronavirus relief talks hit impasse on Capitol Hill” — “Negotiations on a new coronavirus relief bill hit an impasse on Capitol Hill on Wednesday, leaving no clear path forward even as millions of Americans face a sudden drop in unemployment benefits, and the economy teeters on the brink.”

Wall Street Journal: “Fed Maintains Stimulus Commitment as Economic Outlook Dims” — “Federal Reserve Chairman Jerome Powell said on Wednesday the U.S. economy faces a long road to recovery that will require greater public vigilance to prevent the spread of the coronavirus pandemic and more spending from Congress and the White House.”

PBS NewsHour: “McConnell: Some Republicans think ‘we have already done enough’ pandemic aid” — “Senate Majority Leader Mitch McConnell said Wednesday he was open to striking a narrow deal to extend federal unemployment benefits set to expire at the end of the week, as signs emerged that both parties in Congress and the White House remained far apart on a long-term fix for workers hurt by the coronavirus pandemic.”

Wall Street Journal: “GOP Releases Coronavirus Relief Proposal After Delay” — “Senate Republicans rolled out a roughly $1 trillion coronavirus relief bill proposal Monday, launching a mad dash to reach a deal with Democrats on expiring unemployment payments and other aid disputes in the parties’ rival plans.”

Politico: “Jobless aid set to lapse amid impasse in coronavirus package talks” — “Congress appears ready to allow increased federal unemployment aid for tens of millions of Americans to lapse, after negotiators said Wednesday that any type of coronavirus deal is out of reach this week.”

Vox: “Another round of $1,200 stimulus checks could be in the next coronavirus package” — “Republicans and Democrats are bogged down in negotiations over what the next coronavirus relief package should look like and just how big it should be.”

New York Times: “Here Are the Differences Between the House and Senate Coronavirus Relief Bills” — “With the economic and public health toll of the coronavirus pandemic continuing to mount across the country, members of Congress are debating another round of federal relief for individuals and businesses.”

CBS This Morning: “St. Louis sergeant: There are white supremacists on the police force” — “A growing number of police departments in America’s largest cities told CBS News that they’ve added implicit bias training.”

USA Today: “Meadows: ‘Not optimistic’ on COVID-19 stimulus deal, including unemployment boost” — “White House Chief of Staff Mark Meadows cast doubt on the possibility of a stimulus deal Wednesday afternoon, telling reporters on Capitol Hill after meetings with Democratic leaders, ‘I’m not optimistic we’ll reach any kind of comprehensive deal.'”

Economist Radio: “The lure of free money—governments must beware” — “In response to the covid-19 pandemic governments have pumped huge amounts of cash into economies and the role of central banks is changing dramatically.”

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