While Congress is out of session until July 20th, a consensus continues to build that another large relief bill is likely to come together at the end of July or first week of August. There is general agreement that the $2 trillion CARES Act helped save the economy from a depression; and that with its main provisions expiring new revised programs are needed. Talks have begun both in public and behind the scenes.

The centerpiece of the CARES Act was a $1,200 individual relief check that went to most individuals with an income below $99,000, there is talk of another individual check but with a lower qualifying income threshold. The supplemental unemployment payment of $600 a week expires on July 31 and there is a growing view that the economy is not ready for a complete cutoff of these payments. Current talks are focused on the idea of smaller payments and perhaps adding a "bonus" payment when someone goes back into the workforce.

The PPP small business loan program, while getting bad press for some questionable loans, overall has gotten a great deal of support. Over the past few months the program was modified as small businesses complained and there are serious talks of having a new round of loans but more targeted for genuinely small businesses. Perhaps the most contentiou...

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