Senator Cassidy – Next Stimulus Package Coming This Month
Louisiana Senator Bill Cassidy believes that the federal government will once again offer a stimulus package that will help benefit local governments affected by the coronavirus pandemic. That package referred to as CARES 4.0, is expected to cover $500 billion in lost revenue that local governments experienced because of the pandemic.
Cassidy, speaking to the Louisiana Radio Network, says the CARES 4.0 will directly benefit areas that have been hard hit because of the festival and fair cancellations. Here in South Louisiana, we've seen more than our fair share of events postponed or canceled. And of the events that were still held or are still planned organizers will be faced with crowd size limits and a skittish population that just might not show up.
In Natchitoches, if we a secondary surge in Christmas we are not going to have the surge in sales tax revenue because they missed their Christmas festival,
Cassidy says the CARES 4.0 package not only covers losses that have already occurred but will also cover estimated losses moving into the next year.
Cassidy was quick to explain that federal unemployment benefits that are set to expire at the end of July might not be renewed. The same could be said for rental assistance too. That will likely be determined by how many states and local economies are allowed to reopen between now and the end of the month.