Finally, a successor to CARES was willed into law, $2 trillion short and many months late. Can we learn anything from the experience?
Finally, a successor to CARES was willed into law, $2 trillion short and many months late. Can we learn anything from the experience?
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** CARES 2: The Perils of Half Measures ([link removed][UNIQID])
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It’s hard to believe, but back in July I wrote in NPQ ([link removed][UNIQID]) about what was being called “CARES 2.” At the time, Republicans were touting a $1 trillion bill while the Democrats sought over $3 trillion. The final legislation came in at $908 billion—even less than $1 trillion, which gives a clue as to who prevailed—and the bill itself did not limp across the finish line until December 26th. As it did, the message from Washington was clear: a half measure of relief, sure, but with no vision of universal support for Americans. Indeed, the goal appeared to be to keep benefits as modest and limited as possible.
Appropriately, the main focus of the relief bill is on money for families, small businesses, schools, transportation, food, and health. But as NPQ has often noted, nonprofits are at the heart of many parts of our economy, so nonprofits are affected throughout.
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