A committee of lawmakers from the Democratic and Republican parties are now working on a $68 billion recovery plan amid the spike of Omicron cases in the U.S.
COVID-19 Relief Bill
In a recently published article in A Motley Fool, both Democrats and Republicans have now come to the table to explore the potential of awarding COVID-19 relief monies in 2022 when the omicron variant produces a large rise in COVID-19 cases. Senators Ben Cardin (D-Md.) and Roger Wicker (R-Miss.) have assumed the lead on the bipartisan discussions that have been continuing in recent weeks.
As of the end of December, they had proposed a total of $68 billion in assistance. New government expenditure and repurposing of monies allocated by previous COVID-19 laws are included in this. This bill, unlike the previous three, does not provide a direct payout for most Americans. Because enterprises in specific sectors are more at risk from the omicron variant, the law is focused on providing support to them.
New lockdowns or a public unwillingness to walk into crowded public areas is affecting a wide range of businesses, including restaurants, gyms, performance venues, and minor league sports teams.
Benefits of Another COVID-19 Relief and Stimulus Check
In any case, greater government funding for small enterprises in every community would be beneficial to everyone. Companies that would otherwise be forced to shut down and thereby reduce the range of products and services accessible to locals might benefit from the relief funding.
These measures may also be able to prevent prices from rising as a result of economic uncertainty by ensuring that firms don’t have to raise their pricing in order to keep up with the supply of products. Most Americans favor any actions that assist avoid additional price rises in light of the current high rate of inflation.
Meanwhile, Sens. Maria Cantwell (D-Washington), Mark R. Warner (D-Virginia), and Sen. Susan Collins (R-Maine) have already met with the two legislators who are developing the current plan in an effort to get support from moderates on both sides of the aisle. A filibuster-busting majority of 60 votes in the Senate is needed to approve the legislation.
If politicians take steps to help enterprises due to omicron, this might possibly open up the path to a second relief package for people. As a result, it’s possible that a fourth check may be issued in 2022.