The legislation is urgently needed to bolster the economy.
During Tuesday’s White House Coronavirus briefing, Director of the United States National Economic Council Larry Kudlow said that negotiations continue on the Phase 3 of the stimulus. The legislation is urgently needed to bolster the economy. He stated that it will get us through a difficult and challenging period in the economy while positioning us for an economic rebound later in the year. This package will be the single largest Main Street assistance program in the history of the United States.
Director Kudlow said that small businesses, loan guarantees, worker retention through payroll maintenance, and direct deposit checks will help to bridge the needs of American workers. A strong workforce requires strong business and companies that were in good shape will be helped to come out on the other side later this spring or summer.
He continued by adding that there are income tax deferrals, student loan interest and payment deferrals. He expects that the Federal Reserve will have the firepower it needs through the replenishment of the Treasury Emergency Fund as it is fully overseen independently.
As the Lord Leads, Pray with Us…
- For Director Kudlow and Secretary Mnuchin as they work to negotiate the next phase of a stimulus package with Congress.
- For God to be at work in the hearts of all Americans during this time and His name would be glorified.
Sources: White House, The Hill
