Similarly, if Congress is going to extend additional The House of Representatives passed an additional $3.4 trillion stimulus bill in May and another $1.5 trillion aid to businesses, lawmakers should do it through infrastructure bill at the end of June. If passed into law, existing programs, targeting the aid to those businesses these “stimulus” bills would have the lasting legacy of hit hardest by closure orders and simplifying program rules for those who do need the larger debts, higher taxes, and help. slower economic recovery. Federal spending, even if The trade-off of government Past attempts at well designed, will never be an spending is, at its core, a choice economic stimulus show adequate substitute for privatebetween private activity and that governments can’t sector commerce. Temporary, government activity. In the targeted programs that provide depths of the governmentspend their way into timely aid to those in need imposed shutdowns, federal economic recovery. helped soften the most painful programs largely shifted consequences of the coronavirus private payrolls to government. shutdown. Continuing or expanding these Recent employment rebounds show the possibility programs as part of the economic reopening will not of a quicker recovery amid loosening economic create additional growth, but depress it instead. If Congress determines more aid for individuals is restrictions and the willingness of Americans to return necessary, it should be targeted to those who need it to work, restaurants, and stores. Safely returning to most. Some 142 million Americans are fortunate enough commercial and community life is the surest way to RF to have jobs still. A temporary partial federal match to ensure a healthy recovery. unemployment benefits after the $600 bonus benefits expire on July 31st would be much better targeted than Adam N. Michel is a senior policy analyst in The sending checks to every American or cutting payroll Heritage Foundation’s Roe Institute of Economic Policy Studies. taxes for individuals who still have jobs.
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