A Joe Biden presidency augurs well for eventually controlling the COVID-19 pandemic, but Americans can’t afford to wait until Biden takes office on Jan. 20 for federal help. More than two months have passed since Congress recklessly let lapse the individual stimulus payments and business loan programs that were helping stabilize the economy as Americans await a vaccine.
Since summer, the major impediment to new stimulus has been Senate Majority Leader Mitch McConnell and his GOP conference. GOP control of the Senate hangs by a thread and will be determined in twin runoff elections in Georgia early next year.
A day after the election, McConnell said he wants new stimulus passed before year’s end, potentially including aid for cash-strapped state and local governments, which he previously opposed.
McConnell’s no dummy. His reversal on aiding governments and sudden haste to pass new stimulus suggest he’s aware how badly the virus hit Georgia, a state now pivotal to Republicans’ grip on power. COVID has left millions of Georgians unemployed, and tax revenue losses forced $2.2 billion in state budget cuts, including nearly $1 billion from public schools.
Any new stimulus package must fund struggling governments, to avoid states and cities being forced to cut social services at a time they’re so desperately needed. Public transit systems like New York’s MTA need billions, too. Congress should reauthorize enhanced unemployment benefits and re-up one-time payments, which helped Americans pay rent, stay fed and stay inside to quell the virus.
Businesses also should get help, but it should be smartly targeted. Despite a strong October jobs report, America still has 10 million fewer jobs than it did pre-pandemic. Aid should flow to industries like tourism and hospitality, restaurants, clubs, theaters and hotels, where jobs depend on travel and crowds and the road to recovery is longest and steepest.