Congress Debates a Potential Phase 4

April 9, 2020

Immediately after passing the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the $2 trillion Phase 3 stimulus bill, Congress was already discussing about whether to do a Phase 4 bill and what might be included if any legislation was put forward. Talk from D.C. indicates that any such bill would likely not pass before May. Senate Majority Leader Mitch McConnell (R-KY) put forward a proposal to provide as much as $250 billion in additional funding to help small businesses keep employees on the payroll; Senator Chris Van Hollen (D-MD) presented an alternative plan to spend $250 billion on hospitals and local governments to be coupled with small business aid. However, Senate Democrats and Republicans were unable to reach an agreement and the Senate adjourned April 9th with no deal on additional coronavirus aid.