Discord over state and local funds plagues coronavirus talks
Source: The Hill
Negotiators seeking to strike a deal on a stalled coronavirus relief bill risk additional economic bruising unless they come to agreement on providing fiscal aid to state and local governments, which remains the largest stumbling block in talks between Democrats and the White House.
Republicans insist that $150 billion in additional aid will be enough to help state and local governments fill in their budgetary shortfall, and have railed against what they call a "blue state bailout" for governments they say were already fiscally irresponsible before the pandemic.
Democrats, meanwhile, are pushing for $900 billion in aid - a figure Republicans call outlandish - saying that without it the country faces a longer and weaker comeback. Some economists say scant federal aid to state and local governments in 2009 hampered the last recovery.
How the government ultimately responds to the partisan impasse-or fails to respond-will be critical for the economy, and could have significant implications for November's election.
Read more: https://www.msn.com/en-us/news/politics/discord-over-state-and-local-funds-plagues-coronavirus-talks/ar-BB18NyuL?li=BBnb7Kz
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