Is a Phase 4 stimulus package on the way?
On today’s Jay Sekulow Live we discussed the possibility of a Phase 4 stimulus package and potential congressional action on one.
There is already talk from the Speaker of the House Nancy Pelosi on the Democrat side and also the President of the United States who tweeted out this morning about the potential for a fourth stimulus bill.
Speaker Pelosi essentially explained it like this: The first two bills were really about emergency response. The third stimulus, which is the one we’ve talked about the most, was about mitigating the stay at home orders and the effects it will have on our economy. The fourth should be about recovery.
Sounds good from Speaker Pelosi, except that we know we’d be back in a situation where the House bill would likely be full of objectionable items, and we would need to be extremely vigilant to help the Senate catch and remove them. I would expect to see Planned Parenthood funding again, as well as Green New Deal funding, and alternative energy regulations for airlines, just like Speaker Pelosi tried to slip into the Phase 3 legislation.
The broader idea of this is a good one. When you see what the President had to say about it. He tweeted this:
With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4
Notice the President has a price tag already in mind.
My dad, Jay Sekulow, made the following point about the President’s tweet:
I think that is a brilliant idea. It should receive wide bipartisan support. The infrastructure in the United States has been something that three or four administrations in a row have talked about and now is the opportunity.
Number one, you’re going to put a lot of people to work. Number two, you’re going to improve our infrastructure. Number three, it’s a historic time to do it with interest rates being that low. I agree with the President. I think this is the right move. I think there’s probably going to be a need for a Phase 4 of this.
We’re going to get a better understanding today of the long term, what the next three or four months are going to look like for the country. This kind of move is really important.
You can listen to the entire episode complete with more discussion, including more analysis of what a Phase 4 stimulus would look like, here.
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