House Democrats today unveiled a $3 trillion legislative package that they hope to get through the House on Friday on a party line vote.  Unlike the previous coronavirus bills the Democrats aren't waiting for a bipartisan agreement before starting the debate.  Republicans, led by the Senate and White House, have taken a position to pause the process so that Congress can review the past $3 trillion of funds put into the crisis before approving more money.

The largest single slice of the new Democratic proposal is a $1 trillion pool of funds for state and local government.  The bill also contains direct payments to families by giving another round of stimulous payments for $1200 a person, up to $6000 for a family. Other provisions provide funds for small business, establishes a "Heroes Fund" for first responders and front line workers. 

Important:  This is but an opening bid in a complicated legislative poker game. In the end any bill approved with divided government by definition has to be bipartisan. The Republican Senate and White House will review the House passed bill; but I don't expect any large bill to pass until after Memorial Day.  If the bipartisan leadership determines that a specific program like the PPP for small businesses or mone...

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