Expiring stimulus programs threaten economy during COVID-19 pandemic - Business Insider

Many stimulus programs are due to expire at the end of 2020, threatening the US economy during the COVID-19 pandemic's most challenging phase

11/22/2020 7:29:00 PM

Many stimulus programs are due to expire at the end of 2020, threatening the US economy during the COVID-19 pandemic's most challenging phase

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Drew Angerer/Getty Images; Zach Gibson/Getty Images; Congress.gov; Samantha Lee/Business InsiderA number of critical COVID-19 economic relief programs will expire at the end of the year, threatening the stability of the US economy as the country enters an uncertain 2021.

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After the CARES Act passed in March, stimulus gridlock has largely ensued, with Treasury Secretary Steven Mnuchin working with House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell. From eviction moratoriums to a resumption in student loan payments, a lot is on the line if lawmakers don't reach an agreement on additional stimulus measures.

Visit Business Insider's homepage for more stories.A number of critical COVID-19 economic relief programs will expire at the end of the year, which could force millions off of unemployment insurance, push many small businesses to permanently close, and raise the specter of mass evictions. This could threaten the stability of the US economy as the country enters an uncertain 2021.

In March, during the early days of the coronavirus pandemic, the $2 trillion Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, easily passed both houses of Congress with bipartisan support,providing a lifelineto recently laid-off employees and businesses that were forced to close due to COVID-related shutdowns.

However, this legislative comity quickly dissipated as the pandemic wore on. The $3 trillion Health and Economic Recovery Omnibus Emergency Solutions Act, or HEROES Act, which followed the CARES Act, passed in the US House of Representativesin May, but was stymied in the Senate. While Democratic House Speaker Nancy Pelosi championed the bill, GOP Senate Majority Mitch McConnell deemed it as too expensive.

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But Kentucky will once again be an anchor around the neck of America preventing it from thriving. Remember they said on CNN that 2 hundred 49 thousand 9 hundred and 53 people you times that to 1,200 that's 29943600 that's a lot of money to to take away from the next stimulus package What if they was letting all those people die so they could inherit whatever they can such as stimulus money that's promised to the American people or property that some American people own back taxes on and so on

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