President-elect Urges Congress to Pass Another Stimulus Package
On Monday, November 16, President-elect Joe Biden urged members of Congress to work together in order to deliver another stimulus package. In particular, Biden pointed to the House-passed HEROES Act as the legislation Congress should move quickly. However, chances remain grim as the divide between House Democrats and Senate Republicans remains strong. Senate Majority Leader Mitch McConnell staunchly opposes the House bill, and remains steadfast in support of a smaller package similar to the $500 billion GOP skinny bill. Including additional aid for state and local governments or extensions of deadlines from previous relief packages remain unclear at this point in the stalled negotiations.
While both sides have consistently stated they would like to pass another stimulus package, there is no certainty on whether a package will move before the end of the year. One possibility that remains, although slim, is a partial relief package attached to an extension in funding for the federal government when the current short-term extension expires on December 11.
GFOA will continue to report developments as they occur.