The $3 trillion package passed by Democrats has been dubbed 'dead on arrival' by the Senate leadership.
As well as stimulus checks, HEROES act contains a large suite of measures such as $1 trillion for state and local governments, $200 billion in hazard pay for key workers and forgiveness of student loans.
But top Republicans have dismissed the bill with Majority Leader Mitch McConnell particularly scathing, telling lawmakers that it"reads like the Speaker of the House pasted together random ideas from her most liberal members and slapped the word"coronavirus" on top of it." Speaker of the House Nancy Pelosi holds her weekly news conference at the U.S. Capitol May 20, 2020 in Washington, DC. She has accused Senate Republicans of"political retribution" in hot holding a vote on the Heroes Act.Derek Klock, a professor of finance at Virginia Tech, said he was not convinced that there was a need for another stimulus package just yet.."That said, I think that the CARES Act made a mistake in the additional flat $600 per week unemployment benefit....
"The perversion of incentive most likely allowed employers to just lay off workers and tell them that they will be better off in the meantime with unemployment and will be less likely to be exposed to the virus by staying at home. This needs to be amended," he said., shows the states with the most confirmed COVID-19 cases across the U.S. as of May 20.
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