Policymakers in the U.S. will resume contentious talks this week on another round of stimulus that could prove critical to the still-fragile recovery of the world’s largest economy. With much of the last stimulus poised to run out in the coming weeks, the U.S. Senate will return to Washington, D.C. to negotiate legislation about how much and where to spend in additional relief for the coronavirus crisis.
Republicans and Democrats remain at a standstill on number of issues, including whether to include a payroll tax cut, which President Donald Trump has insisted should be included. House Democrats have already approved a $3.5 trillion bill, while the White House has said the final package shouldn’t exceed $1 trillion — a sign of how far apart policy makers are.
End of Relief
COVID-19 financial support programs are due to run out in the coming weeks and months, but lawmakers may opt to keep some supports in place
Sources: U.S. Department of the Treasury, Census Bureau, Federal Reserve, Small Business Administration, Joint Committee on Taxation
These looming cutoff dates, or so-called fiscal cliffs, come as the pandemic rages across the country and amid signs the labor-market recovery may be stalling.