Congress has completed three phases of its economic recovery plan as the United States reckons with the novel coronavirus pandemic, but not everyone is confident the momentum that carried the legislative branch through the previous rounds will last long enough for number four.
Per The Wall Street Journal, big spending bills often fill members of Congress with doubts, and this one may be no different. “My guess is that this bill won’t wear well over time, and Congress isn’t going to be inclined to do another big package,” Andy Laperriere, a policy analyst for investor advisory firm Cornerstone Macro, told the Journal. “There will be fraud, companies getting money going into bankruptcy, things that people on the left and right won’t like.”
Stephen Moore, a fellow at the Heritage Foundation, doesn’t think there will be much bipartisanship going forward, even if it’s based on mutual disappointment. He says the next round of debates over new spending will re-open ideological splits. “The left is going to want to do infrastructure, welfare payments, and food stamps,” he said. “Our side will want to do tax cuts and deregulation.”
Despite such pessimism, lawmakers and Trump administration officials, as well as lobbyists, economists, and think tanks, are already back at working trying to set the framework for the next stage, as all sides look to once again find some sort of common ground. Read more at The Wall Street Journal. Tim O’Donnell