What could we expect to see in the HERO’s act?

There is a lot of talk about whether there will be a fourth stimulus package, the HERO’s act. Both sides feel that we need to do something. Whether that is cutting payroll taxes, or more direct payments to the eligible population. In this article, we are going to break down what we could see in another stimulus package.

The HERO’s act currently has the largest amount of bipartisan support and is scheduled to be voted on Friday, May 15th, 2020. The bill contains more than $3 trillion dollars in stimulus. The current plan includes a second round of stimulus checks to Americans, expanded unemployment benefits, and up to 33 weeks of unemployment assistance from the government. However because this bill is not yet passed or even in the Senate, it could be modified and changed, because of that, this is what I believe we can expect to see in the HEROs act.

The next stimulus package

The next stimulus package might include:

More funding for small businesses affected by COVID-19
More funding for hospitals, state and local governments
funding for contact tracing of individuals diagnosed with COVID-19
Payroll tax holiday
Employee/Employer incentives to get people back to work
Some type of direct/pay raise for front line workers

Other possibilities:

A prolonged stay on foreclosures and evictions
Prolonged unemployment benefits
Pay raises for Medical staff and Emergency service workers

Please note that this is only an opinion on what another possible bill could reflect.

What’s next?

Congress is set to vote on the HERO’s act on Friday, May 15th, 2020. This would be a 3 trillion dollar bill if passed and could be modified even further by the senate if it is signed into law. The earliest we could expect to see a bill like this get passed would be around the end of May, potentially all the way to mid-June. Of course, this depends on the debate and how long it takes to get a deal in the senate.