Op/ed: Why Washington Should Speed More Aid to States
D.C. Squabbles Threaten Country’s Recovery, UMD Economist Says
By Peter Morici
Illustration by Shutterstock
The federal government should approve an aid package that governors can quickly direct to high priority needs, writes business Professor Emeritus Peter Morici.
To avoid economic Armageddon on the heels of the COVID-19 crisis, federal legislators must stop playing politics with stimulus packages that are too complex and take too long to have an effect, according to Peter Morici, a professor emeritus in the Robert H. Smith School of Business.
In an op/ed in The Washington Times, he argues that Washington should send governors a “plain vanilla” aid package that states can use as needed to save jobs, throw a lifeline to small businesses, prop up essential services and more.
Aid is arriving too late and with too many strings for quick distribution. Means testing slowed stimulus checks, and onerous bureaucratic conditions forced many small businesses to pass on grants and loans.
All the bickering and bargaining delays the fire brigade while the economy is burning.
The latest is the $500 billion in fiscal assistance requested by state governors. House Democrats painstakingly wasted time drafting a $3 trillion bill that includes sweet spots rich in Democratic votes and will result in weeks of wrangling with Senate Republicans. Senate Majority Leader Mitch McConnell warns no bill gets past the Senate without tort reform. President Trump wants aid tied to sanctuary city policies.
Read the rest in The Washington Times.
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