Rep. Ro Khanna is rallying behind a second stimulus package. Discussions about a second stimulus package, designed as a means to keep the economy afloat during the coronavirus pandemic, began back in March after the passing of the $2 trillion CARES Act.
Despite The HEROES Act passing in the House in May, the bill has stalled in the Senate with little chance of becoming law. In a tweet sent Monday, Khanna cites the "$565B in wealth" that billionaires have accrued since the beginning of the pandemic. The California Democrat also compares it to the crash of 2008, which he wrote was similar to today's financial situation, in that "the wealthy elite is being bailed out while ordinary Americans are sold out." He ends with a direct call for a second stimulus package that "helps all those who are struggling."
Billionaires in the United States have regained $565B in wealth since the height of the COVID-19 crisis.
Much like in 2008, the wealthy elite is being bailed out while ordinary Americans are sold out.
We need a new stimulus package that helps all those who are struggling.— Ro Khanna (@RoKhanna) June 22, 2020
Khanna joins a bipartisan call for an additional stimulus package, although the agreement more or less ends there. Senate Majority Leader Mitch McConnell has already declared the HEROES Act to be "ridiculous," and intends to carve out his own solution in the Senate. President Donald Trump has himself stated that he is planning on a second round of payments, despite waffling in April over a possible payroll tax cut.
Speaking with Forbes, Trump promised a "generous" second round in the coming weeks. "We had this going better than anybody's ever seen before," Trump claimed. "We had the best job numbers, the best economics, the best economy we've ever had, and then we had the virus come in from China. Now we're rebuilding it again. We will be doing another stimulus package. It'll be very good, it'll be very generous." When asked for specifics, the president instead replied, "You'll find out about it. You'll find out."
There's also the matter of the first round of stimulus payments, which have yet to reach every intended recipient. Rep. Katie Porter, another Democrat from California, also called for action on Monday. Although Porter joined a number of lawmakers calling for the IRS to provide more comprehensive information in regards to the delays.