Congress rescue aid: A dose of support, but is it enough?
by Christopher Rugaber, The Associated Press
Posted Dec 21, 2020 1:15 pm EDT
Last Updated Dec 21, 2020 at 1:26 pm EDT
FILE - In this May 6, 2020, file photo, Brandon Earl, right, helps David Lenus, a job seeker, fill out an application at a drive up job fair for Allied Universal during the coronavirus pandemic, in Gardena, Calif. Coronavirus restrictions in California have put millions of people out of work, increasing the state s unemployment rate earlier this year to levels not seen since the Great Depression. (AP Photo/Chris Carlson, File)
WASHINGTON The $900 billion economic relief package that emerged from Congress over the weekend will deliver vital aid to millions of households and businesses that have struggled for months to survive. Yet with the economy still in the grip of a pandemic that has increasingly tightened curbs on business activity, more federal help will likely be needed soon.
WASHINGTON The $900 billion economic relief package that emerged from Congress over the weekend will deliver vital aid to millions of households and businesses that have struggled for months to survive. Yet with the economy still in the grip of a pandemic that has increasingly tightened curbs on business activity, more federal help will likely be needed soon.
And it’s unclear whether or when the government might provide it.
For now, the package that congressional leaders agreed to Sunday will provide urgently needed benefits to the unemployed, loans to help small businesses stay open and up to $600 in cash payments to most individuals. It will also help families facing evictions remain in their homes. The measure includes no budgetary help, though, for states and localities that are being forced to turn to layoffs and service cuts as their tax revenue dries up a potential long-run drag on the economy.
$900 billion US economic relief package: A dose of support, but is it enough?
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Last Updated: Dec 22, 2020, 12:02 AM IST
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Synopsis
For now, the package that congressional leaders agreed to Sunday will provide urgently needed benefits to the unemployed, loans to help small businesses stay open and up to $600 in cash payments to most individuals. It will also help families facing evictions remain in their homes.
Agencies
The economy has been enduring a renewed slump as the resurgent virus has intensified pressure on businesses and consumers have stopped shopping, traveling, dining out and attending sports and entertainment events. Key measures of the economy - retail sales, applications for jobless aid, travel spending - have steadily weakened.
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Congress’ rescue aid: A dose of support, but is it enough? By: Associated Press December 21, 2020
10:06 am
By CHRISTOPHER RUGABER
AP Economics Writers
WASHINGTON (AP) The $900 billion economic relief package that emerged from Congress over the weekend will deliver vital aid to millions of households and businesses that have been struggling for months to survive. Yet with the economy still in the grip of a pandemic that has increasingly tightened curbs on business activity, more federal support will most likely be needed soon.
And it’s unclear whether or when the government might provide it.
For now, the package that congressional leaders agreed to Sunday will provide urgently needed benefits to the unemployed, loans to help small businesses stay open and as much as $600 in cash payments to most individuals. It will also help families are faced with evictions remain in their homes. The measure includes no budgetary help, though, for states and localities that a