Congress in March approved three separate major bills responding to the COVID-19 pandemic – and work was not even finished on the third and largest bill before lawmakers began considering a possible “Phase 4” of the legislative response.
The House and Senate are currently not planning any legislative activity before April 20, unless events dictate otherwise. But work is already underway on ideas for Phase 4, with an eye toward late April for potential passage.
The Phase 3 bill is frequently called a “stimulus” but in reality its purpose was to stabilize the economy and prevent total collapse as businesses shut down and jobs vanish. Phase 4 is envisioned to pivot from stabilizing the economy to stimulating growth – from disaster mitigation to recovery. Continue Reading