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https://twitter.com/JakeSherman/status/13109952413699932162/ Dems seem roughly indifferent between securing a deal or an issue for their campaigns. Voting this week on pared back HEROES Act suggests Dem leaders still favor a deal, not least on acct of pressure from swing district Dems who want a law, not an issue, to take home to voters
https://twitter.com/crampell/status/12599329545386721312/ I see at least 4 barriers to Congress adopting automatic stabilizers -- for example programs that would use a particular trigger (like an unemployment rate) to automatically enhance unemployment insurance, send direct payments to individuals, bolster food assistance etc.
https://twitter.com/PeterContiBrown/status/12461602825373982732/ "Congress" is never a unitary actor. In this case (and typical of recent years/decades), Democrats and GOP wanted different things in empowering Fed and Treasury to expand and broaden its lending AND in the degree of autonomy given to Treasury in making its lending decisions
https://twitter.com/GagnonMacro/status/1245369777020981249For sure, CARE empowers Fed to set up facility to address liquidity needs of municipalities. But that doesn't also mean that lawmakers will give the Fed a free pass after the crisis based on its decisions of which states/cities to aid. Fed of course understands that it is there..