thefiscaltimes--2020-07-16--The Case of the Disappearing Covid Data

The Case of the Disappearing Covid Data

A sudden change by the Trump administration in how coronavirus data is reported is raising concerns among political leaders , public health experts and state and hospital officials that it could lead to increased burdens on already strained facilities and reduce transparency about the state of the pandemic .
“ To have the CDC not be able to distribute publicly the number of hospitalizations and the number of deaths is going to hurt us in our bid to end this crisis , ” Senate Minority Leader Chuck Schumer said in a statement .
“ Because when you do n't know @ @ @ @ @ @ @ go after the truth , inevitably , you lose out.
” Health care watchers noted Wednesday that previously public data like a dashboard tracking hospital capacity were no longer available on the Centers for Disease Control and Prevention website .
The change came after the Trump administration transferred control of the information to the Department of Health and Human Services .
The CDC reportedly restored the site ’ s previous dashboards later in the day , with data through Tuesday and a note saying : “ This file will not be updated after @ @ @ @ @ @ @ from April 1 to July 14.
” HHS spokesman Michael Caputo told CNBC the CDC was directed to make the data available again .
“ Yes , HHS is committed to being transparent with the American public about the information it is collecting on the coronavirus , ” he said .
“ Therefore , HHS has directed CDC to re-establish the coronavirus dashboards it withdrew from the public on Wednesday.
” Some experts expressed concerns that the change could lead to the data being politicized , or could hamper tracking of the pandemic @ @ @ @ @ @ @ at Johns Hopkins University , told CNBC she was concerned that the administration didn ’ t appear to have detailed planning for the sudden transition in data reporting from the CDC to HHS and didn ’ t give hospitals or researchers a warning about the change .
“ The question is , what are we going to lose in this transition , and in particular at a moment where we really don ’ t want to lose any ability to understand what ’ s happening in hospitals , ” she said .
“ @ @ @ @ @ @ @ worry that it could lead to erosion of capacities at a moment where we very much can ’ t afford to lose any abilities .
”

A sudden change by the Trump administration in how coronavirus data is reported is raising concerns among political leaders, public health experts and state and hospital officials that it could lead to increased burdens on already strained facilities and reduce transparency about the state of the pandemic.
“To have the CDC not be able to distribute publicly the number of hospitalizations and the number of deaths is going to hurt us in our bid to end this crisis,” Senate Minority Leader Chuck Schumer said in a statement. “Because when you don't know the truth, and you don't go after the truth, inevitably, you lose out.”
Health care watchers noted Wednesday that previously public data like a dashboard tracking hospital capacity were no longer available on the Centers for Disease Control and Prevention website. The change came after the Trump administration transferred control of the information to the Department of Health and Human Services. The CDC reportedly restored the site’s previous dashboards later in the day, with data through Tuesday and a note saying: “This file will not be updated after July 14, 2020 and includes data from April 1 to July 14.”
HHS spokesman Michael Caputo told CNBC the CDC was directed to make the data available again. “Yes, HHS is committed to being transparent with the American public about the information it is collecting on the coronavirus,” he said. “Therefore, HHS has directed CDC to re-establish the coronavirus dashboards it withdrew from the public on Wednesday.”
Some experts expressed concerns that the change could lead to the data being politicized, or could hamper tracking of the pandemic.
Dr. Jennifer Nuzzo, an epidemiologist at Johns Hopkins University, told CNBC she was concerned that the administration didn’t appear to have detailed planning for the sudden transition in data reporting from the CDC to HHS and didn’t give hospitals or researchers a warning about the change. “The question is, what are we going to lose in this transition, and in particular at a moment where we really don’t want to lose any ability to understand what’s happening in hospitals,” she said. “I think it’s reasonable to worry that it could lead to erosion of capacities at a moment where we very much can’t afford to lose any abilities.”


thefiscaltimes--2020-07-16--Schumer, Senate Democrats Propose $350 Billion in Aid for Minority Communities

Minority Leader Chuck Schumer and 14 Senate Democrats on Thursday proposed to invest $ 350 billion in communities of color , which have been hit disproportionately by the coronavirus pandemic , as part of the next aid package .
The proposal would provide $ 135 billion for child care , mental health , primary care and job training and $ 215 billion for infrastructure including high-speed internet ; tax credits for homeowners and renters ; and Medicaid expansion .
The proposal would be partially paid for by re-programming $ 200 billion of unspent funds provided by the CARES Act passed @ @ @ @ @ @ @ pandemic , long before this recession , long before this year ’ s protests , structural inequalities have persisted in health care and housing , the economy and education , ” Schumer said in a statement .
“ Covid-19 has only magnified these injustices and we must confront them with lasting , meaningful solutions that tear down economic and social barriers , and reinvest in historically underserved communities .
The Economic Justice Act is a needed step in a long journey to address systematic racism and historic underinvestment in communities of color .
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Minority Leader Chuck Schumer and 14 Senate Democrats on Thursday proposed to invest $350 billion in communities of color, which have been hit disproportionately by the coronavirus pandemic, as part of the next aid package.
The proposal would provide $135 billion for child care, mental health, primary care and job training and $215 billion for infrastructure including high-speed internet; tax credits for homeowners and renters; and Medicaid expansion. The proposal would be partially paid for by re-programming $200 billion of unspent funds provided by the CARES Act passed in March.
"Long before the pandemic, long before this recession, long before this year’s protests, structural inequalities have persisted in health care and housing, the economy and education,” Schumer said in a statement. “Covid-19 has only magnified these injustices and we must confront them with lasting, meaningful solutions that tear down economic and social barriers, and reinvest in historically underserved communities. The Economic Justice Act is a needed step in a long journey to address systematic racism and historic underinvestment in communities of color."


thefiscaltimes--2020-07-17--Bernanke and Yellen Urge Congress to Extend Unemployment Benefits

Former Federal Reserve chairs Ben Bernanke and Janet Yellen urged lawmakers not to let enhanced unemployment benefits expire this month @ @ @ @ @ concerns for now to deliver the stimulus the economy needs in the face of the @ @ @ @ @ do not believe that concerns about the deficit and debt should prevent Congress from responding @ @ @ @ @ ” Yellen told lawmakers Friday .
“ In testimony before the special House coronavirus subcommittee @ @ @ @ @ former Fed chiefs warned lawmakers that the U.S. could face deep , permanent economic damage @ @ @ @ @ trillion in further stimulus .
… Bernanke — a former Republican who disavowed the party @ @ @ @ @ , a Democrat , said the next congressional stimulus measure should focus on three areas @ @ @ @ @ response to the pandemic , extending enhanced unemployment benefits , and giving local governments enough @ @ @ @ @ services amid steep revenue shortfalls.
” In a New York Times op-ed earlier this week @ @ @ @ @ provide more aid to states to avoid a prolonged economic downturn .

Former Federal Reserve chairs Ben Bernanke and Janet Yellen urged lawmakers not to let enhanced unemployment benefits expire this month and to set aside deficit concerns for now to deliver the stimulus the economy needs in the face of the coronavirus pandemic. “We do not believe that concerns about the deficit and debt should prevent Congress from responding robustly to this emergency,” Yellen told lawmakers Friday.
The Hill’s Sylvan Lane reports:
“In testimony before the special House coronavirus subcommittee, the two most recent former Fed chiefs warned lawmakers that the U.S. could face deep, permanent economic damage without more than $1 trillion in further stimulus. … Bernanke — a former Republican who disavowed the party in 2015 — and Yellen, a Democrat, said the next congressional stimulus measure should focus on three areas: investing in the medical response to the pandemic, extending enhanced unemployment benefits, and giving local governments enough financial support to sustain crucial services amid steep revenue shortfalls.”
In a New York Times op-ed earlier this week, Bernanke urged lawmakers to provide more aid to states to avoid a prolonged economic downturn.


thefiscaltimes--2020-07-17--Mnuchin Says Congress Should Consider Forgiving All ‘Small’ PPP Loans

Treasury Secretary Steven Mnuchin on Friday called on Congress to work with the Trump administration to pass additional coronavirus relief legislation by the end of the month and suggested that lawmakers should consider blanket forgiveness of all small Paycheck Protection Program loans to businesses .
Additional aid should be targeted to those hardest hit : In his prepared testimony before the House Committee on Small Business , Mnuchin said he anticipates that the next round of relief will be “ targeted to certain industries , smaller businesses , and lower- to middle-income families that have been especially hard-hit by the @ @ @ @ @ @ @ focus will be on jobs and getting all Americans back to work.
” Forgive all ‘ small ’ PPP loans ?
Mnuchin said that the next phase of relief should extend the $ 660 billion Paycheck Protection Program and allow businesses to get a second round of loans , but again called for the aid to be more targeted to smaller companies and industries suffering most from the pandemic , including as restaurants , hotels and other travel and hospitality businesses .
“ I think this time we need to have a revenue @ @ @ @ @ @ @ going to businesses that had significant revenue declines , ” he reportedly said .
In response to a question about how the loan process could be simplified , Mnuchin suggested that the government should consider forgiving all “ small ” loans without verifying how the borrowed money was spent .
“ We should consider forgiving all small loans , but would need fraud protection , ” Mnuchin said .
PPP borrowers may qualify to have their low-interest loans turned into grants if they meet certain criteria , including verifying that at least 60 @ @ @ @ @ @ @ employees .
Loans can also be partially forgiven if borrowers don ’ t meet that threshold .
The Treasury Department and SBA are reportedly grappling with how to process millions of likely applications for loan forgiveness .
The administration has yet to open an online portal for banks to apply for loan forgiveness on behalf of borrowers , but Small Business Administration chief Jovita Carranza said Friday she hoped it would be ready by next month .
Some lawmakers and small-business advocates have complained that the forgiveness application process is too complicated .
@ @ @ @ @ @ @ a very robust process to review loans before loans are forgiven , ” Mnuchin reportedly said Friday .
“ In the forgiveness process , people will be required to provide much more data and that data will be released.
” Some lawmakers , banks and other businesses have suggested that loans under $ 150,000 should automatically turned into grants .
Nearly 150 industry trade groups wrote to Congress earlier this month in support of the idea , saying it would save more than $ 7 billion .
Mnuchin did not specify on Friday @ @ @ @ @ @ @ might be .
The smallest loans tracked by the SBA in its reports are up to $ 50,000 and account for nearly 70 % of all loans under the program , The Washington Post reports .
Setting the bar at $ 150,000 would account for about 86 % of the nearly 5 million PPP loans and about 27 % of the roughly $ 520 in approved funds .

Treasury Secretary Steven Mnuchin on Friday called on Congress to work with the Trump administration to pass additional coronavirus relief legislation by the end of the month and suggested that lawmakers should consider blanket forgiveness of all small Paycheck Protection Program loans to businesses.
Additional aid should be targeted to those hardest hit: In his prepared testimony before the House Committee on Small Business, Mnuchin said he anticipates that the next round of relief will be “targeted to certain industries, smaller businesses, and lower- to middle-income families that have been especially hard-hit by the pandemic.” He added: “Our focus will be on jobs and getting all Americans back to work.”
Forgive all ‘small’ PPP loans? Mnuchin said that the next phase of relief should extend the $660 billion Paycheck Protection Program and allow businesses to get a second round of loans, but again called for the aid to be more targeted to smaller companies and industries suffering most from the pandemic, including as restaurants, hotels and other travel and hospitality businesses. “I think this time we need to have a revenue test and make sure that money is going to businesses that had significant revenue declines,” he reportedly said.
In response to a question about how the loan process could be simplified, Mnuchin suggested that the government should consider forgiving all “small” loans without verifying how the borrowed money was spent. “We should consider forgiving all small loans, but would need fraud protection,” Mnuchin said.
PPP borrowers may qualify to have their low-interest loans turned into grants if they meet certain criteria, including verifying that at least 60% of the funds went toward paying employees. Loans can also be partially forgiven if borrowers don’t meet that threshold.
The Treasury Department and SBA are reportedly grappling with how to process millions of likely applications for loan forgiveness.
The administration has yet to open an online portal for banks to apply for loan forgiveness on behalf of borrowers, but Small Business Administration chief Jovita Carranza said Friday she hoped it would be ready by next month. Some lawmakers and small-business advocates have complained that the forgiveness application process is too complicated. “We’re going to have a very robust process to review loans before loans are forgiven,” Mnuchin reportedly said Friday. “In the forgiveness process, people will be required to provide much more data and that data will be released.”
Some lawmakers, banks and other businesses have suggested that loans under $150,000 should automatically turned into grants. Nearly 150 industry trade groups wrote to Congress earlier this month in support of the idea, saying it would save more than $7 billion.
Mnuchin did not specify on Friday what the threshold for such blanket forgiveness might be. The smallest loans tracked by the SBA in its reports are up to $50,000 and account for nearly 70% of all loans under the program, The Washington Post reports. Setting the bar at $150,000 would account for about 86% of the nearly 5 million PPP loans and about 27% of the roughly $520 in approved funds.


thefiscaltimes--2020-07-20--What's in the GOP's New Coronavirus Relief Plan?

Congress is back in Washington this week and getting down to the difficult task of negotiating the next , and potentially final , coronavirus relief package .
The parties are far apart , with House Democrats having passed a $ 3 trillion package and Republicans eyeing the $ 1 trillion range — and still needing to settle some internal differences over what should and shouldn ’ t be in the legislation .
To that end , President Trump met Monday with Senate Majority Leader Mitch McConnell ( R-KY ) and House Minority leader Kevin McCarthy ( R-CA ) .
Treasury @ @ @ @ @ @ @ of Staff Mark Meadows are reportedly set to meet Tuesday with Senate Republicans to discuss the GOP plan .
What may be in the Republican plan : The focus of the package will be “ kids and jobs and vaccines , ” Treasury Secretary Steven Mnuchin told reporters , according to Bloomberg News .
McConnell said that the plan “ would neither be another multitrillion-dollar bridge loan to make up for a totally shut down economy , nor an ordinary stimulus for a nation ready to get back to normal.
” The bill @ @ @ @ @ @ @ for negotiations is reportedly expected to include : • a payroll tax cut , an employee retention tax credit and other tax credits meant to help reopening businesses with costs like personal protective equipment , workplace cleaning and testing • a new round of direct payments to individuals , though the details could be different from the $ 1,200 payments approved in March • as much as $ 150 billion in additional funding for the Paycheck Protection Program of small business loans • provisions tying school funding to students returning to classrooms and @ @ @ @ @ @ @ secondary schools to help pay for costs associated with reopenings .
The administration has said it will push for 10 % of the funding to go to “ nonpublic schools and education freedom scholarships.
” The Post says it ’ s still unclear how the money would be structured to incentivize schools to reopen or what might qualify as reopening .
The Washington Post adds that , “ Trump administration officials have also floated new spending caps for next year ’ s budget , as well as seeking funding for other non-coronavirus related @ @ @ @ @ @ @ for FBI renovations , said GOP lawmakers and aides.
” What may not be in the plan : The proposal would also reduce the $ 600-a-week in enhanced federal unemployment benefits , which is set to expire in most states at the end of this week .
And it is expected to leave out more aid for states and cities , according to the Post , instead allowing governors and local leaders more flexibility in spending the $ 150 billion in aid provided by the March coronavirus relief law .
Democrats have pushed @ @ @ @ @ @ @ aid to state and local governments .
The Post ’ s Erica Werner and Jeff Stein reported this weekend that the administration is also complicating negotiations by trying to prevent the coronavirus bill from including some $ 25 billion to states for virus testing and contact tracing and $ 10 billion more that Republican senators want to provide the Centers for Disease Control and Prevention .
The administration is also reportedly looking to block billions in pandemic funding for the Pentagon and State Department .
The White House position has reportedly angered some @ @ @ @ @ @ @ pushing for the money to stay in the package .
“ Senate Republicans have asked for funding to help states purchase test kits in bulk , ” Sam Hammond , a policy expert at the right-leaning Niskanen Center think tank told the Post , which notes that the center has been working with those GOPers on testing legislation .
“ As it currently stands , the main bottleneck to a big ramp-up in testing is less technical than the White House ’ s own intransigence.
” Payroll tax pushback : Trump and administration @ @ @ @ @ @ @ a payroll tax cut , with the president on Monday calling it “ very important ” and an incentive for companies to rehire workers .
Trump has suggested he might not sign a bill that doesn ’ t include the tax cut .
“ The administration is eyeing structuring the payroll tax cut in the legislation as a deferral rather than an outright cut , which would keep down the technical cost of the overall bill , ” The Washington Post reported Monday , citing a person briefed on the package .
“ @ @ @ @ @ @ @ pay back the tax cut at a later date , but lawmakers could later decide to wave the repayment entirely.
” GOP leaders in Congress aren ’ t sold on the idea .
Senate Finance Committee Chairman Chuck Grassley ( R-IA ) warned Monday that cutting the payroll tax funding Social Security could be a public relations problem for Republicans .
`` Go to the fact that Social Security people think we 're raiding the Social Security fund .
And we are raiding it , but we have always put in general fund @ @ @ @ @ @ @ whole .
But that creates — it might create political problems — but it creates a public relations problem , '' Grassley told reporters , according to The Hill .
Sen. John Cornyn ( R-TX ) expressed similar concerns , The Hill reported .
`` I think it 's problematic because obviously the trust funds for Social Security and Medicare are already on their way to insolvency .
...
I 'm not a fan , '' Cornyn said .
The time factor : There ’ s some urgency to the talks , and @ @ @ @ @ @ @ of Covid-19 cases sweeping across many states .
Critical coronavirus aid programs including enhanced unemployment insurance and federal eviction protections are also set to expire within days — and lawmakers have just a few weeks before they are scheduled to go on another recess .
The House is currently scheduled to depart at the end of the month , a week ahead of the Senate , though members have reportedly been told not to make plans for the first week of August .
What ’ s next : A fight , clearly .
@ @ @ @ @ @ @ Republican approach as prioritizing corporate interests over workers and Main Street businesses .
“ Unfortunately , by all accounts the Senate Republicans are drafting legislation that comes up short in a number of vital areas , such as extending unemployment benefits or funding for rental assistance , hazard premium pay for frontline workers , or investments in communities of color being ravaged by the virus , and many other necessary provisions , ” Senate Minority Leader Chuck Schumer wrote in a letter Monday , urging his caucus to stick together .
“ Democrats @ @ @ @ @ @ @ important provisions .
”

Congress is back in Washington this week and getting down to the difficult task of negotiating the next, and potentially final, coronavirus relief package. The parties are far apart, with House Democrats having passed a $3 trillion package and Republicans eyeing the $1 trillion range — and still needing to settle some internal differences over what should and shouldn’t be in the legislation.
To that end, President Trump met Monday with Senate Majority Leader Mitch McConnell (R-KY) and House Minority leader Kevin McCarthy (R-CA). Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows are reportedly set to meet Tuesday with Senate Republicans to discuss the GOP plan.
What may be in the Republican plan: The focus of the package will be “kids and jobs and vaccines,” Treasury Secretary Steven Mnuchin told reporters, according to Bloomberg News. McConnell said that the plan “would neither be another multitrillion-dollar bridge loan to make up for a totally shut down economy, nor an ordinary stimulus for a nation ready to get back to normal.”
The bill being crafted as a Republican starting point for negotiations is reportedly expected to include:
a payroll tax cut, an employee retention tax credit and other tax credits meant to help reopening businesses with costs like personal protective equipment, workplace cleaning and testing
a new round of direct payments to individuals, though the details could be different from the $1,200 payments approved in March
as much as $150 billion in additional funding for the Paycheck Protection Program of small business loans
provisions tying school funding to students returning to classrooms and about $70 billion for elementary and secondary schools to help pay for costs associated with reopenings. The administration has said it will push for 10% of the funding to go to “nonpublic schools and education freedom scholarships.” The Post says it’s still unclear how the money would be structured to incentivize schools to reopen or what might qualify as reopening.
a liability shield protecting businesses from coronavirus-related lawsuits.
The Washington Post adds that, “Trump administration officials have also floated new spending caps for next year’s budget, as well as seeking funding for other non-coronavirus related projects, such as $250 million for FBI renovations, said GOP lawmakers and aides.”
What may not be in the plan: The proposal would also reduce the $600-a-week in enhanced federal unemployment benefits, which is set to expire in most states at the end of this week. And it is expected to leave out more aid for states and cities, according to the Post, instead allowing governors and local leaders more flexibility in spending the $150 billion in aid provided by the March coronavirus relief law. Democrats have pushed for an additional $1 trillion in aid to state and local governments.
The Post’s Erica Werner and Jeff Stein reported this weekend that the administration is also complicating negotiations by trying to prevent the coronavirus bill from including some $25 billion to states for virus testing and contact tracing and $10 billion more that Republican senators want to provide the Centers for Disease Control and Prevention. The administration is also reportedly looking to block billions in pandemic funding for the Pentagon and State Department.
The White House position has reportedly angered some senate Republicans, and some lawmakers are pushing for the money to stay in the package. “Senate Republicans have asked for funding to help states purchase test kits in bulk,” Sam Hammond, a policy expert at the right-leaning Niskanen Center think tank told the Post, which notes that the center has been working with those GOPers on testing legislation. “As it currently stands, the main bottleneck to a big ramp-up in testing is less technical than the White House’s own intransigence.”
Payroll tax pushback: Trump and administration officials continue to emphasize their desire for a payroll tax cut, with the president on Monday calling it “very important” and an incentive for companies to rehire workers. Trump has suggested he might not sign a bill that doesn’t include the tax cut.
“The administration is eyeing structuring the payroll tax cut in the legislation as a deferral rather than an outright cut, which would keep down the technical cost of the overall bill,” The Washington Post reported Monday, citing a person briefed on the package. “Such a deferral could require Americans to pay back the tax cut at a later date, but lawmakers could later decide to wave the repayment entirely.”
GOP leaders in Congress aren’t sold on the idea. Senate Finance Committee Chairman Chuck Grassley (R-IA) warned Monday that cutting the payroll tax funding Social Security could be a public relations problem for Republicans.
"Go to the fact that Social Security people think we're raiding the Social Security fund. And we are raiding it, but we have always put in general fund revenue in it so it is made whole. But that creates — it might create political problems — but it creates a public relations problem," Grassley told reporters, according to The Hill.
Sen. John Cornyn (R-TX) expressed similar concerns, The Hill reported. "I think it's problematic because obviously the trust funds for Social Security and Medicare are already on their way to insolvency. ...I'm not a fan," Cornyn said.
The time factor: There’s some urgency to the talks, and not only because of the alarming surge of Covid-19 cases sweeping across many states. Critical coronavirus aid programs including enhanced unemployment insurance and federal eviction protections are also set to expire within days — and lawmakers have just a few weeks before they are scheduled to go on another recess. The House is currently scheduled to depart at the end of the month, a week ahead of the Senate, though members have reportedly been told not to make plans for the first week of August.
What’s next: A fight, clearly. Democrats have already begun to criticize the Republican approach as prioritizing corporate interests over workers and Main Street businesses. “Unfortunately, by all accounts the Senate Republicans are drafting legislation that comes up short in a number of vital areas, such as extending unemployment benefits or funding for rental assistance, hazard premium pay for frontline workers, or investments in communities of color being ravaged by the virus, and many other necessary provisions,” Senate Minority Leader Chuck Schumer wrote in a letter Monday, urging his caucus to stick together. “Democrats will need to fight hard for these important provisions.”


thefiscaltimes--2020-07-17--IMF Urges US to Pass More Stimulus

IMF Urges US to Pass More Stimulus

The International Monetary Fund said Friday that the U.S. is facing serious economic challenges – caused by both the coronavirus and long-term issues including growing inequality and declining socioeconomic mobility – and urged the country to deploy more fiscal stimulus in order to boost growth .
“ The U.S. has fiscal space and it should be deployed quickly to hasten the recovery from the second-quarter contraction , permanently improve the social safety net , and facilitate a broader remaking of the U.S. economy , ” the IMF said in a statement .
As part of its annual review of the @ @ @ @ @ @ @ growth estimates for 2020 .
According to its analysis , the economy shrank 37 % on an annualized basis in the second quarter and is projected to contract by 6.6 % for the full year .
Looking ahead , the IMF said the U.S. still faces a significant economic risk from a resurgence of the coronavirus , which may be getting underway right now .
Even without a second wave of the virus , though , negative effects from the pandemic contraction could linger .
“ [ T ] the risk ahead is @ @ @ @ @ @ @ population will have to contend with an important deterioration of living standards and significant economic hardship for several years to come , ” the IMF said .
“ This , in turn , can further weaken demand and exacerbate longer-term headwinds to growth ( e.g .
by preventing the accumulation of human capital , eroding labor force participation , or contributing to social unrest ) .
”

The International Monetary Fund said Friday that the U.S. is facing serious economic challenges – caused by both the coronavirus and long-term issues including growing inequality and declining socioeconomic mobility – and urged the country to deploy more fiscal stimulus in order to boost growth.
“The U.S. has fiscal space and it should be deployed quickly to hasten the recovery from the second-quarter contraction, permanently improve the social safety net, and facilitate a broader remaking of the U.S. economy,” the IMF said in a statement.
As part of its annual review of the U.S. economy, the international organization provided growth estimates for 2020. According to its analysis, the economy shrank 37% on an annualized basis in the second quarter and is projected to contract by 6.6% for the full year.
Looking ahead, the IMF said the U.S. still faces a significant economic risk from a resurgence of the coronavirus, which may be getting underway right now. Even without a second wave of the virus, though, negative effects from the pandemic contraction could linger. “[T]the risk ahead is that a large share of the U.S. population will have to contend with an important deterioration of living standards and significant economic hardship for several years to come,” the IMF said. “This, in turn, can further weaken demand and exacerbate longer-term headwinds to growth (e.g. by preventing the accumulation of human capital, eroding labor force participation, or contributing to social unrest).”


thefiscaltimes--2020-07-21--Biden Unveils $775 Billion Plan for Universal Preschool and Caregivers

Joe Biden on Tuesday rolled out the third plank in his “ Build Back Better ” economic recovery program , a $ 775 billion , 10-year plan that aims to ease the burdens of caring for children and the elderly .
“ This one is about easing the squeeze on working families that are raising their kids and caring for aging loved ones , ” Biden said in remarks prepared for delivery at an event in New Castle , Delaware .
“ We are trapped in a caregiving crisis within an economic crisis within a public health crisis , ” @ @ @ @ @ @ @ “ The Biden Plan for Mobilizing American Talent and Heart to Create a 21st Century Caregiving and Education Workforce.
” It ’ s a mouthful .
Let ’ s call it TBPMATHCTOCCEW .
Or not .
• The proposal calls for universal preschool for 3-and 4-year-old children and spending $ 325 billion to increase the availability of child care .
The plan would offer low-income and middle-class families a refundable tax credit of up to $ 8,000 for one child or $ 16,000 for two or more children to offset as much as @ @ @ @ @ @ @ earning between $ 125,000 and $ 400,000 a year would be eligible for a partial credit .
The plan calls for raising child-care workers ’ pay and benefits and expanding subsidies for after-school , weekend and summer-care programs .
• The plan would allocate $ 450 billion toward improving elder care options .
It seeks to eliminate the waiting list of about 800,000 people for home and community services under Medicaid by increasing funding to states .
It also proposes to add 150,000 community health workers , with many a focus on low-income @ @ @ @ @ @ @ study published earlier this year that found that every dollar spent on community health workers would yield $ 2.47 in savings .
• The plan aims to create 3 million new jobs in caregiving and education .
Biden ’ s campaign says it would boost overall employment by about 5 million once unpaid caregivers are freed up to pursue jobs if they so choose .
• The campaign notes that the first step in the former vice president ’ s recovery efforts would be to “ immediately provide states , tribal , and @ @ @ @ @ @ @ need to keep workers employed and keep vital public services running , including direct care and child care services.
” Biden ’ s campaign says the plan will be paid for by “ rolling back unproductive and unequal tax breaks for real estate investors with incomes over $ 400,000 and taking steps to increase tax compliance for high-income earners.
” The plan would reportedly limit the ability to engage in transactions known as like-kind exchanges , which allow real estate investors to defer capital gains if they quickly reinvest the proceeds of a @ @ @ @ @ @ @ also raise the top capital gains tax rate from 20 % to 39.6 % .
“ Combined with limits on like-kind exchanges , that policy means commercial real-estate transactions that today yield no income taxes could instead be taxed immediately at a 39.6 % rate , ” Bloomberg News reports , adding that the proposed tax increases would raise $ 294 billion over a decade according to Tax Policy Center estimates from earlier this year .
Biden previously released plans to boost U.S. manufacturing via a “ Buy American ” prorgram and combat @ @ @ @ @ @ @ and infrastructure .

Joe Biden on Tuesday rolled out the third plank in his “Build Back Better” economic recovery program, a $775 billion, 10-year plan that aims to ease the burdens of caring for children and the elderly.
“This one is about easing the squeeze on working families that are raising their kids and caring for aging loved ones,” Biden said in remarks prepared for delivery at an event in New Castle, Delaware.
“We are trapped in a caregiving crisis within an economic crisis within a public health crisis,” he added.
Here’s an overview of Biden’s plan:
It is titled “The Biden Plan for Mobilizing American Talent and Heart to Create a 21st Century Caregiving and Education Workforce.” It’s a mouthful. Let’s call it TBPMATHCTOCCEW. Or not.
The proposal calls for universal preschool for 3-and 4-year-old children and spending $325 billion to increase the availability of child care. The plan would offer low-income and middle-class families a refundable tax credit of up to $8,000 for one child or $16,000 for two or more children to offset as much as 50% of child-care costs. Families earning between $125,000 and $400,000 a year would be eligible for a partial credit. The plan calls for raising child-care workers’ pay and benefits and expanding subsidies for after-school, weekend and summer-care programs.
The plan would allocate $450 billion toward improving elder care options. It seeks to eliminate the waiting list of about 800,000 people for home and community services under Medicaid by increasing funding to states. It also proposes to add 150,000 community health workers, with many a focus on low-income areas. The campaign pointed to a study published earlier this year that found that every dollar spent on community health workers would yield $2.47 in savings.
The plan aims to create 3 million new jobs in caregiving and education. Biden’s campaign says it would boost overall employment by about 5 million once unpaid caregivers are freed up to pursue jobs if they so choose.
The campaign notes that the first step in the former vice president’s recovery efforts would be to “immediately provide states, tribal, and local governments with the fiscal relief they need to keep workers employed and keep vital public services running, including direct care and child care services.”
Biden’s campaign says the plan will be paid for by “rolling back unproductive and unequal tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners.”
The plan would reportedly limit the ability to engage in transactions known as like-kind exchanges, which allow real estate investors to defer capital gains if they quickly reinvest the proceeds of a sale in another property. It would also raise the top capital gains tax rate from 20% to 39.6%.
“Combined with limits on like-kind exchanges, that policy means commercial real-estate transactions that today yield no income taxes could instead be taxed immediately at a 39.6% rate,” Bloomberg News reports, adding that the proposed tax increases would raise $294 billion over a decade according to Tax Policy Center estimates from earlier this year.
Biden previously released plans to boost U.S. manufacturing via a “Buy American” prorgram and combat climate change with investments in clean energy and infrastructure.


thefiscaltimes--2020-07-21--Republicans in Disarray on Coronavirus Relief Bill

Republican efforts to develop a coherent plan for the next coronavirus relief bill got off to a rough start Tuesday , with lawmakers and the White House unable to agree on even basic elements of the GOP proposal .
At a lunch meeting between lawmakers and officials from the Trump administration , disagreements reportedly arose on policy details such as a proposed payroll tax cut and additional funding for the Centers for Disease Control and Prevention , as well as over the ultimate size of the relief package .
Deadline looming : Earlier Tuesday , House Speaker Nancy Pelosi ( @ @ @ @ @ @ @ reach a deal by the end of next week , but Minority Leader Kevin McCarthy ( R-CA ) said he doubted the legislation would get done in July , instead citing the first week of August as a target date .
Senate Majority Leader Mitch McConnell ( R-KY ) reportedly laughed in response to a question about whether the bill could pass by the end of next week , the target date set by Treasury Secretary Steven Mnuchin .
Saying the Senate Republicans ’ version of the relief bill will be released “ @ @ @ @ @ @ @ details on the still-developing proposal .
He said it would include $ 105 billion for schools to help cover the cost of reopening in the middle of a pandemic ; another round of stimulus check for individuals ; reimbursement for businesses for coronavirus-related expenses , such as cleaning and the installation of plexiglass barriers ; and another round of Paycheck Protection Program loans for small businesses .
But Republicans still face plenty of internal differences , and they reportedly made little progress Tuesday in bridging those disagreements.
, prompting some “ crowing ” @ @ @ @ @ @ @ in complete disarray , ” Senate Minority Leader Chuck Schumer ( D-NY ) said .
“ Totally incompetent .
Totally in disarray .
Totally at war with one another.
” Differences on spending : Mnuchin and the White House had indicated that the administration was looking to keep the cost of the package around $ 1 trillion , but The Washington Post reports that the Treasury secretary “ had abandoned that mantra ” by Tuesday .
“ I think we ’ re going to spend what we need to spend , and we @ @ @ @ @ @ @ don ’ t spend more than that , ” Mnuchin said .
Other Republicans still object to the idea of increased spending .
“ What in the hell are we doing , ” an angry Sen. Ted Cruz ( R-TX ) reportedly said in response to proposals to boost spending in the bill .
Major hurdles ahead : Republican chaos aside , the overall discussion far suggests that the Democratic-controlled House , the Republican-controlled Senate and the Trump administration all agree the U.S. needs another substantial round of relief and stimulus .
But @ @ @ @ @ @ @ it comes to many of the specifics .
Here ’ s a rundown of key sticking points via Amber Phillips of The Washington Post .
Unemployment benefits : The $ 600 per week boost in benefits expires in just a few days , all but guaranteeing a lapse in the program for millions of Americans .
Democrats want to continue the program at the $ 600 level , while Republicans have signaled they want to cut the weekly payment by several hundred dollars .
Payroll tax cut : President Trump is pushing for @ @ @ @ @ @ @ and some Republicans , citing the cost , the optics of cutting the source of Social Security funding and the fact that such a cut would do nothing for the unemployed , are opposed to the idea .
Bowing to Trump , McConnell may include a deferral of payroll taxes in the proposal , though few think it will make it into the final bill .
Stimulus checks : There appears to be agreement over including another round of stimulus checks in the relief bill , but McConnell has indicated the payout should @ @ @ @ @ @ @ $ 40,000 .
Testing and tracing : Lawmakers from both parties want to include additional funds for testing and tracing programs at the state level , but the Trump administration was reportedly trying to block the effort over the weekend .
The Washington Post reported Tuesday , however , that the White House has changed course and will not oppose a Republican proposal to provide $ 25 billion for the effort .
Aid for states and cities : Democrats want to provide $ 1 trillion to state and local governments reeling from falling @ @ @ @ @ @ @ , but Republicans have little interest in anything close to that level of support , saying they don ’ t want to bail out badly run states .
School reopening : Trump and administration officials are pushing hard to open schools in the fall , and Republicans may defer to those demands by making federal educational aid contingent on some degree of reopening at the state and local level .
Liability shield : McConnell has repeatedly said businesses must be given extra protection from lawsuits related to potential coronavirus illnesses and deaths , @ @ @ @ @ @ @ workers .

Republican efforts to develop a coherent plan for the next coronavirus relief bill got off to a rough start Tuesday, with lawmakers and the White House unable to agree on even basic elements of the GOP proposal.
At a lunch meeting between lawmakers and officials from the Trump administration, disagreements reportedly arose on policy details such as a proposed payroll tax cut and additional funding for the Centers for Disease Control and Prevention, as well as over the ultimate size of the relief package.
Deadline looming: Earlier Tuesday, House Speaker Nancy Pelosi (D-CA) said she hopes lawmakers can reach a deal by the end of next week, but Minority Leader Kevin McCarthy (R-CA) said he doubted the legislation would get done in July, instead citing the first week of August as a target date. Senate Majority Leader Mitch McConnell (R-KY) reportedly laughed in response to a question about whether the bill could pass by the end of next week, the target date set by Treasury Secretary Steven Mnuchin.
Saying the Senate Republicans’ version of the relief bill will be released “very soon,” McConnell provided some details on the still-developing proposal. He said it would include $105 billion for schools to help cover the cost of reopening in the middle of a pandemic; another round of stimulus check for individuals; reimbursement for businesses for coronavirus-related expenses, such as cleaning and the installation of plexiglass barriers; and another round of Paycheck Protection Program loans for small businesses.
But Republicans still face plenty of internal differences, and they reportedly made little progress Tuesday in bridging those disagreements., prompting some “crowing” by Democratic leaders. “Republicans are in complete disarray,” Senate Minority Leader Chuck Schumer (D-NY) said. “Totally incompetent. Totally in disarray. Totally at war with one another.”
Differences on spending: Mnuchin and the White House had indicated that the administration was looking to keep the cost of the package around $1 trillion, but The Washington Post reports that the Treasury secretary “had abandoned that mantra” by Tuesday. “I think we’re going to spend what we need to spend, and we’re going to make sure we don’t spend more than that,” Mnuchin said. Other Republicans still object to the idea of increased spending. “What in the hell are we doing,” an angry Sen. Ted Cruz (R-TX) reportedly said in response to proposals to boost spending in the bill.
Major hurdles ahead: Republican chaos aside, the overall discussion far suggests that the Democratic-controlled House, the Republican-controlled Senate and the Trump administration all agree the U.S. needs another substantial round of relief and stimulus. But the parties are nowhere near agreement when it comes to many of the specifics. Here’s a rundown of key sticking points via Amber Phillips of The Washington Post.
Unemployment benefits: The $600 per week boost in benefits expires in just a few days, all but guaranteeing a lapse in the program for millions of Americans. Democrats want to continue the program at the $600 level, while Republicans have signaled they want to cut the weekly payment by several hundred dollars.
Payroll tax cut: President Trump is pushing for a payroll tax cut, but Democrats and some Republicans, citing the cost, the optics of cutting the source of Social Security funding and the fact that such a cut would do nothing for the unemployed, are opposed to the idea. Bowing to Trump, McConnell may include a deferral of payroll taxes in the proposal, though few think it will make it into the final bill.
Stimulus checks: There appears to be agreement over including another round of stimulus checks in the relief bill, but McConnell has indicated the payout should be limited to households earning less than $40,000.
Testing and tracing: Lawmakers from both parties want to include additional funds for testing and tracing programs at the state level, but the Trump administration was reportedly trying to block the effort over the weekend. The Washington Post reported Tuesday, however, that the White House has changed course and will not oppose a Republican proposal to provide $25 billion for the effort.
Aid for states and cities: Democrats want to provide $1 trillion to state and local governments reeling from falling tax revenues and rising social welfare costs, but Republicans have little interest in anything close to that level of support, saying they don’t want to bail out badly run states.
School reopening: Trump and administration officials are pushing hard to open schools in the fall, and Republicans may defer to those demands by making federal educational aid contingent on some degree of reopening at the state and local level.
Liability shield: McConnell has repeatedly said businesses must be given extra protection from lawsuits related to potential coronavirus illnesses and deaths, but Democrats insist on additional aid for workers.


thefiscaltimes--2020-07-20--Food Stamp Enrollment Soars Amid Pandemic

About 43 million people are now receiving food stamps , and millions more could soon turn to the Supplemental Nutrition Assistance Program if Congress allows enhanced unemployment benefits to expire this month .
According to an analysis by The New York Times , the first three months of the coronavirus pandemic saw the fastest growth in participation in the federal food stamp program on record , with enrollment growing by more than 6 million from February to May – a growth rate of 17 % .
Total participation is still below the record high of 48 million set in 2012 @ @ @ @ @ @ @ , but they may change soon .
At the end of July , about 20 million Americans could lose the $ 600 per week boost to unemployment benefits provided by the CARES Act , and many of those households will then qualify for food stamps .
Spending on SNAP , which cost $ 60 billion last year , has grown even faster than enrollment , in part because Congress has temporarily allowed all applicants to receive maximum benefits .
For example , households with three people are now receiving the maximum of $ @ @ @ @ @ @ @ a big jump from the average of $ 378 per month from before the pandemic hit .
( The Center on Budget and Policy Priorities has a rundown on the pre-pandemic SNAP numbers , as well as a more recent analysis of the current state of the program . )
Some interesting details from the report : • About one in eight Americans is now participating in SNAP .
• Thirty states ( of the 42 the Times could collect data for ) saw double-digit growth in enrollment .
• Only one state @ @ @ @ @ @ @ • More than 200,000 people signed up in both Miami and Los Angeles , while more than 100,000 joined in Atlanta .
• In Michigan , where roughly 1.5 million people received benefits in May , cases have grown by 30 % and spending by 90 % .
• In the Atlanta area , cases grew more in wealthy , suburban Cobb County ( 55 % ) than in urban Fulton County ( 40 % ) .
• Cases grew the most in Florida , where nearly 1 million people joined the food @ @ @ @ @ @ @ : The coronavirus pandemic has produced a ceasefire in the long-running political battle over SNAP , at least for now .
The Trump administration has eased its efforts to reduce participation in the food stamp program , and thanks to the pandemic there are now more people on food stamps than there were when President Trump took office .
But Democrats , citing an increase in food prices , are looking for a permanent 15 % increase in benefits , a change that will likely be part of the negotiations over the size @ @ @ @ @ @ @ package .

About 43 million people are now receiving food stamps, and millions more could soon turn to the Supplemental Nutrition Assistance Program if Congress allows enhanced unemployment benefits to expire this month.
According to an analysis by The New York Times, the first three months of the coronavirus pandemic saw the fastest growth in participation in the federal food stamp program on record, with enrollment growing by more than 6 million from February to May – a growth rate of 17%.
Total participation is still below the record high of 48 million set in 2012 in the aftermath of the Great Recession, but they may change soon. At the end of July, about 20 million Americans could lose the $600 per week boost to unemployment benefits provided by the CARES Act, and many of those households will then qualify for food stamps.
Spending on SNAP, which cost $60 billion last year, has grown even faster than enrollment, in part because Congress has temporarily allowed all applicants to receive maximum benefits. For example, households with three people are now receiving the maximum of $509 per month in food aid, a big jump from the average of $378 per month from before the pandemic hit. (The Center on Budget and Policy Priorities has a rundown on the pre-pandemic SNAP numbers, as well as a more recent analysis of the current state of the program.)
Some interesting details from the report:
About one in eight Americans is now participating in SNAP.
Thirty states (of the 42 the Times could collect data for) saw double-digit growth in enrollment.
Only one state – Arizona – saw a decline.
More than 200,000 people signed up in both Miami and Los Angeles, while more than 100,000 joined in Atlanta.
In Michigan, where roughly 1.5 million people received benefits in May, cases have grown by 30% and spending by 90%.
In the Atlanta area, cases grew more in wealthy, suburban Cobb County (55%) than in urban Fulton County (40%).
Cases grew the most in Florida, where nearly 1 million people joined the food stamp program.
What’s next: The coronavirus pandemic has produced a ceasefire in the long-running political battle over SNAP, at least for now. The Trump administration has eased its efforts to reduce participation in the food stamp program, and thanks to the pandemic there are now more people on food stamps than there were when President Trump took office. But Democrats, citing an increase in food prices, are looking for a permanent 15% increase in benefits, a change that will likely be part of the negotiations over the size and content of the next coronavirus relief package.


thefiscaltimes--2020-07-20--Trump’s Fact-Challenged Interview With Fox News

President Trump gave a combative , mind-bending , fact-twisting interview to “ Fox News Sunday ” host Chris Wallace .
In the interview , which aired Sunday , Trump made a number of comments that generated controversy or strained credulity .
He suggested he might not accept the election results if Joe Biden wins .
He insisted , without evidence , that Biden wants to defund the police .
He criticized “ cancel culture ” and the push to rename army bases named for Confederate generals .
And he defended his handling of the coronavirus pandemic and downplayed the severity @ @ @ @ @ @ @ experts and blaming increased testing for the surge in cases .
“ Many of those cases are young people that would heal in a day .
They have the sniffles and we put it down as a test , ” he said .
“ Many of them — do n't forget , I guess it 's like 99.7 percent , people are going to get better and in many cases they ’ re going to get better very quickly.
” In short , Trump said a lot , and a lot that was @ @ @ @ @ @ @ whom aides say no longer attends coronavirus task force meetings because he does not have time — showed himself to be particularly misinformed about the basics of the virus that has been ravaging the nation for more than four months , ” The Washington Post ’ s Philip Rucker and Felicia Sonmez reported .
Read more about the interview here , here or here .
On the fiscal and health policy fronts , here ’ s what else stood out : Another threat to withhold funding from schools that don ’ t reopen @ @ @ @ @ @ @ to school , and there ’ s problems when you don ’ t go to school , too , ” Trump said .
“ And there ’ s going to be a funding problem because we ’ re not going to fund – when they don ’ t open their schools .
We ’ re not going to fund them .
We ’ re not going to give them money if they ’ re not going to school .
If they don ’ t open.
” When Wallace pointed out that federal funding @ @ @ @ @ @ @ overall school funding , and that money “ goes overwhelmingly to disadvantaged kids and children with disabilities , ” Trump said that statistics show people under 18 are at low risk of dying .
Liability protections and a payroll tax cut in the next coronavirus bill : Trump insisted that the next coronavirus relief bill should protect businesses from coronavirus-related lawsuits and said he wants a payroll tax cut .
“ I ’ ll have to see but , yeah , I would consider not signing it if we don ’ t have @ @ @ @ @ @ @ said .
Trump promised a health care plan in two weeks : Asked why it makes sense for his administration to support a lawsuit seeking to overturn Obamacare in the midst of the pandemic , Trump pledged to protect those with pre-existing conditions and quickly sign a replacement plan , even though there is none in the works .
“ We 're signing a health care plan within two weeks , a full and complete health care plan that the Supreme Court decision on DACA gave me the right to do , ” @ @ @ @ @ @ @ going to solve -- we 're going to sign an immigration plan , a health care plan , and various other plans .
And nobody will have done what I 'm doing in the next four weeks.
” Sahil Kapur of NBC News noted : “ The president does not currently have a health care plan ; the White House and congressional Republicans say they aren ’ t crafting one ; and even if they attempted it their preferences are light years from anything the Democratic-run House would accept .
”

President Trump gave a combative, mind-bending, fact-twisting interview to “Fox News Sunday” host Chris Wallace. In the interview, which aired Sunday, Trump made a number of comments that generated controversy or strained credulity. He suggested he might not accept the election results if Joe Biden wins. He insisted, without evidence, that Biden wants to defund the police. He criticized “cancel culture” and the push to rename army bases named for Confederate generals. And he defended his handling of the coronavirus pandemic and downplayed the severity of it, attacking his own health experts and blaming increased testing for the surge in cases.
“Many of those cases are young people that would heal in a day. They have the sniffles and we put it down as a test,” he said. “Many of them — don't forget, I guess it's like 99.7 percent, people are going to get better and in many cases they’re going to get better very quickly.”
In short, Trump said a lot, and a lot that was misleading or wrong. “Trump — whom aides say no longer attends coronavirus task force meetings because he does not have time — showed himself to be particularly misinformed about the basics of the virus that has been ravaging the nation for more than four months,” The Washington Post’s Philip Rucker and Felicia Sonmez reported. Read more about the interview here, here or here.
On the fiscal and health policy fronts, here’s what else stood out:
Another threat to withhold funding from schools that don’t reopen: “Young people have to go to school, and there’s problems when you don’t go to school, too,” Trump said. “And there’s going to be a funding problem because we’re not going to fund – when they don’t open their schools. We’re not going to fund them. We’re not going to give them money if they’re not going to school. If they don’t open.” When Wallace pointed out that federal funding accounts for a relatively small percentage of overall school funding, and that money “goes overwhelmingly to disadvantaged kids and children with disabilities,” Trump said that statistics show people under 18 are at low risk of dying.
Liability protections and a payroll tax cut in the next coronavirus bill: Trump insisted that the next coronavirus relief bill should protect businesses from coronavirus-related lawsuits and said he wants a payroll tax cut. “I’ll have to see but, yeah, I would consider not signing it if we don’t have a payroll tax cut,” he said.
Trump promised a health care plan in two weeks: Asked why it makes sense for his administration to support a lawsuit seeking to overturn Obamacare in the midst of the pandemic, Trump pledged to protect those with pre-existing conditions and quickly sign a replacement plan, even though there is none in the works. “We're signing a health care plan within two weeks, a full and complete health care plan that the Supreme Court decision on DACA gave me the right to do,” he said. “So we're going to solve -- we're going to sign an immigration plan, a health care plan, and various other plans. And nobody will have done what I'm doing in the next four weeks.”
Sahil Kapur of NBC News noted: “The president does not currently have a health care plan; the White House and congressional Republicans say they aren’t crafting one; and even if they attempted it their preferences are light years from anything the Democratic-run House would accept.”


thefiscaltimes--2020-07-17--Defund the Pentagon? Views From Left and Right

Politico published dueling op-eds this week on the topic of reducing funding for the Pentagon .
Andrew Lautz of the National Taxpayers Union and Jonathan Bydlak of the R Street Institute provide a conservative view on the issue , arguing that the recent unprecedented increase in federal outlays in response to coronavirus crisis should inspire a total review of other spending in the federal budget – beginning with “ the single largest part of the federal discretionary budget , an entire category of spending that has long been off the table : the Pentagon.
” Lautz and Bydlak say that @ @ @ @ @ @ @ a free pass when it comes to bloated budgets and unrestrained spending , at “ a time of enormous deficits and record debt , this can no longer be acceptable.
” They join with libertarians on both the left and the right in calling for reduced defense spending and more comprehensive audits of allocated funds .
Although short on details , they say they stand by the idea that “ in a post-coronavirus world , all expenditures can and must be on the table.
” From the left , Sen. Bernie Sanders ( @ @ @ @ @ @ @ it clear that “ now is the time to fundamentally change our national priorities , ” starting with the $ 740 billion defense bill Congress is expected to approve in the coming weeks .
“ After adjusting for inflation , ” Sanders writes , “ this bill would spend more money on the Pentagon than we did during the height of the Vietnam War even as up to 22 million Americans are in danger of being evicted from their homes and health workers are still forced to reuse masks , gloves and gowns.
@ @ @ @ @ @ @ , Sanders has introduced an amendment to the National Defense Authorization Act that would cut overall defense spending by 10 % – $ 74 billion – while redirecting the funds “ to invest in communities that have been ravaged by extreme poverty , mass incarceration , decades of neglect and the Covid-19 pandemic.
” Quoting Republican President Dwight D. Eisenhower , Sanders makes the case that concerns about excessive defense spending have long been bipartisan .
As the former Supreme Commander of the Allied Expeditionary Force in Europe during World War II said @ @ @ @ @ @ @ is made , every warship launched , every rocket fired signifies , in the final sense , a theft from those who hunger and are not fed , those who are cold and are not clothed .
”

Politico published dueling op-eds this week on the topic of reducing funding for the Pentagon. Andrew Lautz of the National Taxpayers Union and Jonathan Bydlak of the R Street Institute provide a conservative view on the issue, arguing that the recent unprecedented increase in federal outlays in response to coronavirus crisis should inspire a total review of other spending in the federal budget – beginning with “the single largest part of the federal discretionary budget, an entire category of spending that has long been off the table: the Pentagon.”
Lautz and Bydlak say that while many conservatives give the Defense Department a free pass when it comes to bloated budgets and unrestrained spending, at “a time of enormous deficits and record debt, this can no longer be acceptable.” They join with libertarians on both the left and the right in calling for reduced defense spending and more comprehensive audits of allocated funds. Although short on details, they say they stand by the idea that “in a post-coronavirus world, all expenditures can and must be on the table.”
From the left, Sen. Bernie Sanders (I-VT) says the coronavirus crisis makes it clear that “now is the time to fundamentally change our national priorities,” starting with the $740 billion defense bill Congress is expected to approve in the coming weeks. “After adjusting for inflation,” Sanders writes, “this bill would spend more money on the Pentagon than we did during the height of the Vietnam War even as up to 22 million Americans are in danger of being evicted from their homes and health workers are still forced to reuse masks, gloves and gowns.”
In an effort to rebalance priorities, Sanders has introduced an amendment to the National Defense Authorization Act that would cut overall defense spending by 10% – $74 billion – while redirecting the funds “to invest in communities that have been ravaged by extreme poverty, mass incarceration, decades of neglect and the Covid-19 pandemic.”
Quoting Republican President Dwight D. Eisenhower, Sanders makes the case that concerns about excessive defense spending have long been bipartisan. As the former Supreme Commander of the Allied Expeditionary Force in Europe during World War II said in 1953: “Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed.”


thefiscaltimes--2020-07-22--US Agrees to Pay $1.95 Billion for 100 Million Doses of Vaccine

The federal government has agreed to pay Pfizer and German biotechnology firm BioNTech nearly $ 2 billion to produce 100 @ @ @ @ @ vaccine currently under development , if the vaccine is found to be safe and effective @ @ @ @ @ also gives the U.S. the option to acquire an additional 500 million doses .
“ @ @ @ @ @ now , a safe and effective vaccine can be shipped quickly if FDA [ Food @ @ @ @ @ EUA [ Emergency Use Authorization ] or licensure , ” the Department of Health and @ @ @ @ @ statement Wednesday .
“ This approach helps meet the U.S. government ’ s Operation Warp @ @ @ @ @ 300 million of doses of safe and effective vaccine to the American people by the @ @ @ @ @ ”

The federal government has agreed to pay Pfizer and German biotechnology firm BioNTech nearly $2 billion to produce 100 million doses of a Covid-19 vaccine currently under development, if the vaccine is found to be safe and effective in humans. The agreement also gives the U.S. the option to acquire an additional 500 million doses.
“By entering into this agreement now, a safe and effective vaccine can be shipped quickly if FDA [Food and Drug Administration] grants EUA [Emergency Use Authorization] or licensure,” the Department of Health and Human Services said in a statement Wednesday. “This approach helps meet the U.S. government’s Operation Warp Speed goal to begin delivering 300 million of doses of safe and effective vaccine to the American people by the end of the year.”


thefiscaltimes--2020-07-22--GOP Still Fighting Over Coronavirus Aid Bill

The White House and Senate Republicans are still trying to resolve internal differences over their opening offer on the next coronavirus relief bill .
Negotiations with Democrats , likely to be even more difficult , are still ahead .
Here ’ s a quick recap of where things stand : • None Senate Majority Leader Mitch McConnell was reportedly pushing to unveil the GOP blueprint as soon as Wednesday , but Senate Republicans and the White House are still struggling to reach agreement on key issues .
Senate GOP staffers were reportedly briefed Wednesday afternoon on the proposal , which @ @ @ @ @ @ @ of an as-yet-unspecified flat unemployment insurance payment .
• None With Republicans still internally divided , and their differences with Democrats even larger , passage of any coronavirus relief bill appears likely to slip deeper into August • None That timing , and the looming expiration of the $ 600 federal boost to weekly unemployment benefits , has some Republicans exploring a short-term extension of emergency unemployment payments to millions of laid-off workers ( see more below ) .
• None The payroll tax cut President Trump says he wants may not be @ @ @ @ @ @ @ GOP leadership has made no decision yet on whether their proposal will include a payroll tax cut , ” Politico reports .
• None Democrats appear to be enjoying the GOP ’ s intraparty squabbling .
“ It ’ s in the middle of the week , and the Republican Party is so disorganized , chaotic and unprepared that they can barely cobble together a partisan bill in their own conference , ” said Senate Minority Leader Chuck Schumer ( D-NY ) .

The White House and Senate Republicans are still trying to resolve internal differences over their opening offer on the next coronavirus relief bill. Negotiations with Democrats, likely to be even more difficult, are still ahead.
Here’s a quick recap of where things stand:
Senate Majority Leader Mitch McConnell was reportedly pushing to unveil the GOP blueprint as soon as Wednesday, but Senate Republicans and the White House are still struggling to reach agreement on key issues. Senate GOP staffers were reportedly briefed Wednesday afternoon on the proposal, which is expected to include a two-month extension of an as-yet-unspecified flat unemployment insurance payment.
With Republicans still internally divided, and their differences with Democrats even larger, passage of any coronavirus relief bill appears likely to slip deeper into August
That timing, and the looming expiration of the $600 federal boost to weekly unemployment benefits, has some Republicans exploring a short-term extension of emergency unemployment payments to millions of laid-off workers (see more below).
The payroll tax cut President Trump says he wants may not be included in the Republican plan. “GOP leadership has made no decision yet on whether their proposal will include a payroll tax cut,” Politico reports.


thefiscaltimes--2020-07-22--GOP Eyes Short-Term Extension of Unemployment Benefit at Reduced Level

As Senate Republicans and the White House try to reach consensus on their proposal for the next coronavirus relief bill , they are also discussing a possible extension of enhanced unemployment benefits , acknowledging that a broader deal isn ’ t likely to be reached before the $ 600-a-week payments are set to expire at the end of July .
“ I think we should do the whole thing , ” Sen .
Rob Portman ( R-OH ) said , “ but if we ca n't get it all done by next week we can not allow there to be @ @ @ @ @ @ @ we 're still at about 11 % unemployment .
I think we need to do something and [ in ] the interim period we can have a compromise.
” A big cut : The extension under consideration would likely reduce the benefit dramatically from the current $ 600 a week .
Portman said Wednesday that GOP lawmakers were discussing a possible two-month extension of enhanced benefits , but at a lower level , with $ 200 per week being cited by some White House advisers .
CNBC reports the extension now under consideration @ @ @ @ @ @ @ 100 a week and last through the end of the year .
The $ 600 per week payments have played a major role in maintaining household incomes and economic demand in the face of the worst employment crisis in decades .
A potential extension would allow more than 20 million Americans to continue to collect extra unemployment benefits .
An agreement on an extension is far from a sure thing , however , even as lawmakers are struggling to reach a deal on a broader package .
Comments from White House Chief of @ @ @ @ @ @ @ the administration may be backing away from a short-term extension , leaving the issue very much up in the air .
Some top Democrats object : Democrats have proposed continuing the $ 600 payments through January , and top Democratic lawmakers expressed concerns about a shorter-term extension .
“ I would prefer to reach agreement on a comprehensive response to the crisis , including an extension of unemployment assistance ; state , local and tribal government assistance ; and other priorities , ” House Majority Leader Steny Hoyer said Wednesday , according to @ @ @ @ @ @ @ Oregon , the ranking Democrat on the Senate Finance Committee , reportedly accused Republicans of trying to stall .
The risk : Some economists are expressing concerns about the shockwave that could be caused by bringing the unemployment payments to an end .
In an analysis published by the Peterson Institute for International Economics earlier this month , former Obama economic adviser Jason Furman said that allowing the enhanced benefits to come to an abrupt halt would remove some $ 50 billion a month from the economy , reducing household spending , business @ @ @ @ @ @ @ benefit boost permanently would cause GDP to shrink by more than 2 % in the second half of 2020 , Furman said , while reducing employment by about 2 million ( see the chart below ) .
Lowering the weekly payment , which seems more likely than total elimination , also carries economic risk .
Economist Ernie Tedeschi , who worked in the Treasury Department during the Obama administration , told The Washington Post that cutting the payment by two-thirds would have a powerful negative economic effect .
`` If they lowered it @ @ @ @ @ @ @ million workers would wake up with a pay cut from a third to a half overnight , '' Tedeschi said .
`` While $ 200 is marginally better than full expiration , the U.S. would still take a major economic hit from this summer and this fall as a result from it . ''
The timing poses challenges , too , since most states will send out their last checks in the program at the end of this week , creating a rapidly approaching fiscal cliff as clunky state-level unemployment offices shut the @ @ @ @ @ @ @ to turn it back on again in the event of new legislation .

As Senate Republicans and the White House try to reach consensus on their proposal for the next coronavirus relief bill, they are also discussing a possible extension of enhanced unemployment benefits, acknowledging that a broader deal isn’t likely to be reached before the $600-a-week payments are set to expire at the end of July.
“I think we should do the whole thing,” Sen. Rob Portman (R-OH) said, “but if we can't get it all done by next week we cannot allow there to be a cliff in unemployment insurance given that we're still at about 11% unemployment. I think we need to do something and [in] the interim period we can have a compromise.”
A big cut: The extension under consideration would likely reduce the benefit dramatically from the current $600 a week. Portman said Wednesday that GOP lawmakers were discussing a possible two-month extension of enhanced benefits, but at a lower level, with $200 per week being cited by some White House advisers. CNBC reports the extension now under consideration would lower the supplemental payment to $100 a week and last through the end of the year.
The $600 per week payments have played a major role in maintaining household incomes and economic demand in the face of the worst employment crisis in decades. A potential extension would allow more than 20 million Americans to continue to collect extra unemployment benefits.
An agreement on an extension is far from a sure thing, however, even as lawmakers are struggling to reach a deal on a broader package. Comments from White House Chief of Staff Mark Meadows late Wednesday suggests that the administration may be backing away from a short-term extension, leaving the issue very much up in the air.
Some top Democrats object: Democrats have proposed continuing the $600 payments through January, and top Democratic lawmakers expressed concerns about a shorter-term extension. “I would prefer to reach agreement on a comprehensive response to the crisis, including an extension of unemployment assistance; state, local and tribal government assistance; and other priorities,” House Majority Leader Steny Hoyer said Wednesday, according to Bloomberg News. Sen. Ron Wyden of Oregon, the ranking Democrat on the Senate Finance Committee, reportedly accused Republicans of trying to stall.
The risk: Some economists are expressing concerns about the shockwave that could be caused by bringing the unemployment payments to an end. In an analysis published by the Peterson Institute for International Economics earlier this month, former Obama economic adviser Jason Furman said that allowing the enhanced benefits to come to an abrupt halt would remove some $50 billion a month from the economy, reducing household spending, business operations and GDP.
Eliminating the federal benefit boost permanently would cause GDP to shrink by more than 2% in the second half of 2020, Furman said, while reducing employment by about 2 million (see the chart below).
Lowering the weekly payment, which seems more likely than total elimination, also carries economic risk. Economist Ernie Tedeschi, who worked in the Treasury Department during the Obama administration, told The Washington Post that cutting the payment by two-thirds would have a powerful negative economic effect. "If they lowered it to $200 a week, 30 million workers would wake up with a pay cut from a third to a half overnight," Tedeschi said. "While $200 is marginally better than full expiration, the U.S. would still take a major economic hit from this summer and this fall as a result from it."
The timing poses challenges, too, since most states will send out their last checks in the program at the end of this week, creating a rapidly approaching fiscal cliff as clunky state-level unemployment offices shut the program down, while likely needing weeks to turn it back on again in the event of new legislation.


thefiscaltimes--2020-07-22--New York Pop-Up Hospital Cost $52 Million, Treated 79 Patients: Report

A field hospital built by New York City as the coronavirus pandemic was peaking in April cost more than $ 52 million .
Located at the U.S.T.A .
Billie Jean King National Tennis Center in Queens , the hospital had hundreds of beds and dozens of medical professionals .
But it treated just 79 patients over the month it was open , Brian M. Rosenthal of The New York Times reports : “ Doctors at the Queens Hospital Center , a public hospital in Jamaica , and at other medical centers wanted to transfer patients to Billie Jean King .
@ @ @ @ @ @ @ turf battles and communication failures , according to internal documents and interviews with workers .
“ New York paid as much as $ 732 an hour for some doctors at Billie Jean King , but the city made them spend hours on paperwork .
They were supposed to treat coronavirus patients , but they did not accept people with fevers , a hallmark symptom of the virus .
Officials said the site would serve critically ill patients , but workers said it opened with only one or two ventilators.
” City and state @ @ @ @ @ @ @ treated such a small number of patients because the spread of the virus was brought under control and the city concluded that patients were best treated at existing hospitals .
Those hospitals were expanding capacity , but they were still overcrowded and their medical staffs were stretched thin .
“ I basically got paid $ 2,000 a day to sit on my phone and look at Facebook , ” Katie Capano , a nurse practitioner from Baltimore who worked at the pop-up hospital told the Times .
“ We all felt guilty .
@ @ @ @ @ @ @ honest.
” An aide to New York City Mayor Bill de Blasio told the Times that she expected the federal government to reimburse the city for the cost of the hospital .
Read the full story at The New York Times .
This article was updated to correct the cost of the hospital , $ 52 million .

A field hospital built by New York City as the coronavirus pandemic was peaking in April cost more than $52 million. Located at the U.S.T.A. Billie Jean King National Tennis Center in Queens, the hospital had hundreds of beds and dozens of medical professionals. But it treated just 79 patients over the month it was open, Brian M. Rosenthal of The New York Times reports:
“Doctors at the Queens Hospital Center, a public hospital in Jamaica, and at other medical centers wanted to transfer patients to Billie Jean King. But they were blocked by bureaucracy, turf battles and communication failures, according to internal documents and interviews with workers.
“New York paid as much as $732 an hour for some doctors at Billie Jean King, but the city made them spend hours on paperwork. They were supposed to treat coronavirus patients, but they did not accept people with fevers, a hallmark symptom of the virus. Officials said the site would serve critically ill patients, but workers said it opened with only one or two ventilators.”
City and state officials told the Times that the hospital treated such a small number of patients because the spread of the virus was brought under control and the city concluded that patients were best treated at existing hospitals. Those hospitals were expanding capacity, but they were still overcrowded and their medical staffs were stretched thin.
“I basically got paid $2,000 a day to sit on my phone and look at Facebook,” Katie Capano, a nurse practitioner from Baltimore who worked at the pop-up hospital told the Times. “We all felt guilty. I felt really ashamed, to be honest.”
An aide to New York City Mayor Bill de Blasio told the Times that she expected the federal government to reimburse the city for the cost of the hospital.
Read the full story at The New York Times.
This article was updated to correct the cost of the hospital, $52 million.


thefiscaltimes--2020-07-22--Paycheck Protection Program Helped Save as Many as 3.2 Million Jobs: Study

The more than $ 500 billion in forgivable Paycheck Protection Loans from the government to small businesses helped save between @ @ @ @ @ jobs through the first week of June , according to a preliminary study by economists @ @ @ @ @ Technology and Federal Reserve .
The researchers noted that assessing the impact of the loan @ @ @ @ @ by “ the absence of granular , high-frequency employment data that can precisely capture any @ @ @ @ @ on employment.
” They used data from payroll-processing company Automatic Data Processing to compare employment @ @ @ @ @ and were not eligible for PPP loans .
They estimate that the program boosted employment @ @ @ @ @ % to 4.5 % .
An earlier working paper by researchers at Harvard and Brown @ @ @ @ @ that “ the PPP had little material impact on employment at small businesses ” and @ @ @ @ @ that the program did not restore the vast majority of jobs that were lost following @ @ @ @ @

The more than $500 billion in forgivable Paycheck Protection Loans from the government to small businesses helped save between 1.4 million and 3.2 million jobs through the first week of June, according to a preliminary study by economists at the Massachusetts Institute of Technology and Federal Reserve.
The researchers noted that assessing the impact of the loan program was made more difficult by “the absence of granular, high-frequency employment data that can precisely capture any causal effect of the PPP on employment.”
They used data from payroll-processing company Automatic Data Processing to compare employment levels at businesses that were and were not eligible for PPP loans. They estimate that the program boosted employment at eligible firms by 2% to 4.5%.
An earlier working paper by researchers at Harvard and Brown Universities using different data concluded that “the PPP had little material impact on employment at small businesses” and that “it is clear that the program did not restore the vast majority of jobs that were lost following the COVID shock.”


thefiscaltimes--2020-07-23--Senate Passes $740 Billion Defense Bill, Despite Trump Veto Threats

The Senate passed the National Defense Authorization Act Thursday , just a few days after the House passed its own @ @ @ @ @ .
The Senate NDAA authorizes defense spending of $ 740.5 billion in the 2021 fiscal @ @ @ @ @ billion for the Defense Department ’ s base budget and $ 69 billion for the @ @ @ @ @ which is used for war fighting , among other things .
Like the House version @ @ @ @ @ language calling on the Pentagon to change the names of military bases named after Confederate @ @ @ @ @ .
The bill lays out a plan to “ remove all names , symbols , @ @ @ @ @ paraphernalia that honor or commemorate the Confederate States of America ... or any person who @ @ @ @ @ States of America from all assets of the Department of Defense.
” President Trump has @ @ @ @ @ due to the renaming provision .

The Senate passed the National Defense Authorization Act Thursday, just a few days after the House passed its own version of the same bill. The Senate NDAA authorizes defense spending of $740.5 billion in the 2021 fiscal year, including $636.4 billion for the Defense Department’s base budget and $69 billion for the Overseas Contingency Operations account, which is used for war fighting, among other things.
Like the House version, the Senate NDAA contains language calling on the Pentagon to change the names of military bases named after Confederate leaders from the Civil War. The bill lays out a plan to “remove all names, symbols, displays, monuments, and paraphernalia that honor or commemorate the Confederate States of America ... or any person who served voluntarily with the Confederate States of America from all assets of the Department of Defense.”
President Trump has threatened to veto the bill due to the renaming provision.


thefiscaltimes--2020-07-23--Jobless Claims Rise for First Time in Months as Lawmakers Battle Over Payments

More people applied for unemployment benefits last week than the week before , the first time jobless claims have increased on a weekly basis since March .
The 1.42 million claims for the week ending July 18 – an increase of 109,000 from the week before – raises fears that the labor market recovery in May and June , when roughly 7 million jobs were added to the economy , has run out of gas .
Applications for Pandemic Unemployment Assistance , which provides aid to workers who are usually ineligible for benefits , also rose last week , to @ @ @ @ @ @ @ some kind of unemployment aid remains near highs recorded in June .
According to economist Heidi Shierholz of the Economic Policy Institute , 34.3 million workers are either receiving benefits or waiting to learn the results of their applications for assistance .
A July swoon ?
A recovery tracking index at Oxford Economics fell slightly last week as indicators softened .
“ While the rebounds in retail sales , employment , and industrial production through June were alluring , policymakers should not fall under the spell of rear-view-mirror economics , ” Oxford analysts @ @ @ @ @ @ @ , the economy is emerging quite frail from its first rehabilitation phase , and the risks of a renewed downfall are real.
” Robert Brusca , an independent economist quoted by Bloomberg News , said Covid-19 played a central role in the increase in job losses .
“ Because of resurgence of the virus , a lot of firms that thought they were going to be opening up are instead not opening up , ” Brusca said .
“ While parts of the economy are still recovering , doing better , there are @ @ @ @ @ @ @ sector of the economy , that are really feeling the pain.
” Economist Andrew Husby told Bloomberg that while seasonal factors may have influenced the latest data , conditions have been deteriorating for several weeks .
“ The results reinforce the current high stakes as Congress negotiates the next aid package , including enhanced jobless benefits due to expire next week , ” Husby added .
Unemployment benefits running out : The $ 600 per week in additional unemployment benefits provided by Congress in March run out at the end of the month @ @ @ @ @ @ @ beneficiaries going out this week .
Democrats passed a bill in the House that would extend the payments into next year , but Republicans want to cut the payments and are still debating how to handle the issue .
Treasury Secretary Steve Mnuchin told CNBC Thursday that Republicans will propose to replace the $ 600 per week payment with a smaller amount based on 70 % replacement of a worker ’ s earnings .
It ’ s not clear , however , that state unemployment offices are capable of handling that sort of @ @ @ @ @ @ @ was passed in March in part because of concerns about states ’ abilities to handle anything more complicated – and Mnuchin said they would have a `` backup plan ” if a solution can not be worked out .
Democrats said they would continue to push for the higher level of support for the unemployed .
House Majority Leader Steny Hoyer ( D-MD ) said Thursday that the 70 % wage replacement proposal is not “ the policy we ought to pursue.
” However , he also said that said that the plan @ @ @ @ @ @ @

More people applied for unemployment benefits last week than the week before, the first time jobless claims have increased on a weekly basis since March.
The 1.42 million claims for the week ending July 18 – an increase of 109,000 from the week before – raises fears that the labor market recovery in May and June, when roughly 7 million jobs were added to the economy, has run out of gas. Applications for Pandemic Unemployment Assistance, which provides aid to workers who are usually ineligible for benefits, also rose last week, to 975,000.
The number of people receiving some kind of unemployment aid remains near highs recorded in June. According to economist Heidi Shierholz of the Economic Policy Institute, 34.3 million workers are either receiving benefits or waiting to learn the results of their applications for assistance.
A July swoon? A recovery tracking index at Oxford Economics fell slightly last week as indicators softened. “While the rebounds in retail sales, employment, and industrial production through June were alluring, policymakers should not fall under the spell of rear-view-mirror economics,” Oxford analysts said Thursday. “As of mid-July, the economy is emerging quite frail from its first rehabilitation phase, and the risks of a renewed downfall are real.”
Robert Brusca, an independent economist quoted by Bloomberg News, said Covid-19 played a central role in the increase in job losses. “Because of resurgence of the virus, a lot of firms that thought they were going to be opening up are instead not opening up,” Brusca said. “While parts of the economy are still recovering, doing better, there are substantial parts, like in the service sector of the economy, that are really feeling the pain.”
Economist Andrew Husby told Bloomberg that while seasonal factors may have influenced the latest data, conditions have been deteriorating for several weeks. “The results reinforce the current high stakes as Congress negotiates the next aid package, including enhanced jobless benefits due to expire next week,” Husby added.
Unemployment benefits running out: The $600 per week in additional unemployment benefits provided by Congress in March run out at the end of the month, with the final checks for most beneficiaries going out this week. Democrats passed a bill in the House that would extend the payments into next year, but Republicans want to cut the payments and are still debating how to handle the issue.
Treasury Secretary Steve Mnuchin told CNBC Thursday that Republicans will propose to replace the $600 per week payment with a smaller amount based on 70% replacement of a worker’s earnings. It’s not clear, however, that state unemployment offices are capable of handling that sort of approach – the flat $600 benefit was passed in March in part because of concerns about states’ abilities to handle anything more complicated – and Mnuchin said they would have a "backup plan” if a solution cannot be worked out.
Democrats said they would continue to push for the higher level of support for the unemployed. House Majority Leader Steny Hoyer (D-MD) said Thursday that the 70% wage replacement proposal is not “the policy we ought to pursue.” However, he also said that said that the plan is “not a dealbreaker.”