Finance

We Need a COVID-19 Phase 4 Relief Package. Here’s What Should Be In It.

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We Need a COVID-19 Phase 4 Relief Package. Here’s What Should Be In It.

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The first three bills were written at speed and did roughly what emergency legislation does: move money quickly toward the loudest failures. The remaining problems are slower and harder to see.

Four things the earlier bills missed

State and municipal budgets face revenue collapses that federal transfers have not touched. Renters have protection dates that expire before employment recovers. Contract workers still fall between programmes. And testing capacity remains funded quarter to quarter.

None of these are ideological questions in the ordinary sense. They are timing questions, and the cost of getting them wrong compounds every month they are deferred.

A fourth package will be argued about on its price. It should be argued about on its schedule.

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