Bloomberg Tax
March 25, 2020, 10:47 PM

Governors Say Massive Federal Stimulus Deal Falls Short

Fola Akinnibi
Fola Akinnibi
Bloomberg News

The biggest federal stimulus program in history doesn’t go far enough for state and localities facing unprecedented financial pressure brought on by the coronavirus pandemic, according to U.S. governors whose states have been hardest hit by the crisis.

The White House and Democratic senators reached an early morning agreement Wednesday on a $2 trillion package to combat the virus. While negotiations over expanded unemployment benefits for low-wage workers threatened to delay it in the Senate, Treasury Secretary Steven Mnuchin said he expects passage tonight in that chamber.

The bill sets aside nearly $275 billion in emergency funds for state and ...

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