Daily Tax Report: State

Warnings of Years-Long Economic Recovery Forces Fiscal Debate

May 4, 2020, 4:01 AM

As the U.S. moves past the peak of the coronavirus pandemic and begins to focus on the road ahead, lawmakers are preparing for a debate over whether the economy will need a long-term federal rebuilding effort that could last several years.

Such a sustained push to bolster the economy could cost trillions of dollars, which will pressure lawmakers to consider how long the deficit-financed efforts should go on. A debate in Congress over proposals to boost the federal safety net and to let the deficit grow could occupy lawmakers for the rest of the year, if not longer.

“It’s going...

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