Coronavirus relief bill does a lot of good, but it’s just a start | Editorial - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
March 27, 2020 Newswires
Share
Share
Post
Email

Coronavirus relief bill does a lot of good, but it’s just a start | Editorial

Philly.com

Even amid the worst public health crisis in current history, some members of Congress are confronting an even bigger fear: that people will become overly reliant on the government.

The coronavirus relief bill approved by the Senate was nearly derailed because of four Republican senators’ concerns that a provision that not only extends the time people can receive unemployment compensation, but adds a temporary supplement of an additional $600 a week for four months would trigger the dreaded dependency on government and cause people to quit their jobs to make more money collecting unemployment than working.

Fortunately, the bill that passed the Senate and is on its way to approval in the House and by President Trump has a lot of good in it that will ease some of the economic devastation wrought by this crisis.

It is a massive bill calling for an $2.2 trillion of aid and relief to a wide swath of society. It provides for small business loans, relief from some foreclosures and evictions, community development block grants, housing assistance, economic development, aid to health care institutions on the front line of the crisis, and grants to support local school systems. It provides billions in aid to transit systems and airports. In addition, it provides corporate relief, including $58 billion for the airline industry and over $400 billion for loans to other industries.

Individual aid will come in the form of checks of $1,200 for Americans with incomes up to $75,000 ($150,000 for couples). This, in addition to the expansion of unemployment benefits, will provide critical relief, especially for those whose jobs have disappeared overnight.

Finally, the bill earmarks $150 billion for state and local governments. In many ways, this may be some of the most critical money in the long term – and most states will find that money falls far short of what will be needed. In Pennsylvania and in other states, this money will be critical for the state to shore up its systems and resources to actually make sure all these dollars get out to people quickly.

For example, the unemployment figures have spiked dramatically – 3.3 million Americans filed for unemployment last week alone – and will continue to swell. That will put extraordinary demands on an unemployment system that, in Pennsylvania, struggles to provide timely human response even in the best of times. This will become critical, especially for those who can’t access technology.

The digital divide is about to get even more critical. That divide could also present problems for those Americans who are not banked. Delays for those who have not already established direct deposit with the IRS could see delays in getting printed checks; the unbanked – low income people who aren’t part of established financial systems -- will also confront barriers getting relief.

States’ and cities’ ability to handle the current crisis are being taxed. In light of the plummeting revenues and unprecedented demands on its systems, budgets, and workforces, the aftermath of this crisis, when the huge backlog of needs emerge, will strain local and state governments even more. And that’s likely to last for years to come.

___

(c)2020 The Philadelphia Inquirer

Visit The Philadelphia Inquirer at www.inquirer.com

Distributed by Tribune Content Agency, LLC.

Older

EPA willing to amend West Calumet cleanup plan for distribution center development

Newer

No clear role for Legacy Funds, though other assistance programs available

Advisor News

  • Wealth planning vs. estate planning: Honoring your client’s wishes
  • What to discuss during the first retirement planning meeting
  • Inflation, competing priorities and uncertainty erode retirement security
  • As health premiums rise, 1 in 8 workers cut retirement savings
  • CT governor’s candidates claims: What’s true, and what’s misleading
More Advisor News

Annuity News

  • National Life Group expands annuity portfolio
  • AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
  • USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
  • How flexible annuities fit today’s retirement portfolios
  • Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
More Annuity News

Health/Employee Benefits News

  • As WA open enrollment begins, far fewer than expected have lost coverage
  • Pennsylvania Health Plans Must Cover Colon Cancer Screening at 45
  • In Miami-Dade court, health insurer fights an order to cover $48,500 cancer drug
  • Fed judge blocks Medicaid work requirement rule
  • Health insurers leave millions unpaid for mental health crisis care in California
More Health/Employee Benefits News

Life Insurance News

  • AM Best Affirms Credit Ratings of Insignia Life S.A. de C.V.
  • FINANCIAL FRAUD
  • Security Benefit Announces Planned Dividend Rate Reset for Series B Preferred Stock
  • Palmetto Heritage and Atlantic Coast Life Announce Discussions Regarding Potential Acquisition
  • Jury finds insurance company acted in bad faith, awards Nebraska woman $11.3M
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Spectrum Weather & Specialty Insurance Celebrates 15 Years and Welcomes the Next Generation
  • Royal Neighbors of America® Increases Service Capacity
  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.