State and local governments facing dire financial straits due to the pandemic will have to wait until at least May before Congress considers further relief, Senate Majority Leader McConnell has indicated.
, Sens. Bill Cassidy, R-La., and Bob Menendez, D-N.J., unveiled a legislative proposal for $500 billion in state and local funding.
Following the Great Recession, state and local governments took years longer to recover than their federal counterparts, contributing to a sustained drag on the economy. But McConnell reiterated Wednesday that any possible funding would come with strings — and said that he was not in favor of bailing out states with more federal dollars.
Congress approved $150 billion in funding for state and local governments as part of earlier coronavirus legislative aid — assistance governors and local leaders said would ultimately not be enough. McConnell told Hewitt that he would favor states declaring bankruptcy.
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