A Breakdown of Stimulus #2by Tim Manni
Despite the unsuccessful result of the first stimulus package doled out earlier this year, an ongoing recession coupled with the need for consumer assistance — as the government has done with financial institutions — has lawmakers sketching out the structure for a possible second stimulus package in less than a year.
How will the second stimulus differ from the first?
Although no set structure has been established for the second package, the second round is expected to differ from the first. The first stimulus totaled at $168 billion; estimates for the second stimulus have reached up to $300 billion.
New stipulations include an extension in unemployment benefits, increased spending on food stamps, financial aid to individual states and municipalities, as well as strong lawmakers support for government spending on building projects for roads, buildings, and bridges.
Officials say lawmakers could vote on the second stimulus in a “lame duck” session as soon as next week. In an era where our government has written consecutive blank checks, lawmakers will try to balance the need for consumer support with the consequence of future financial debt.