Senate Majority Leader Mitch McConnell (R-KY) stated yesterday that he believes that Congress should pass a second COVID relief bill by the end of this year. “We need another rescue package. Hopefully the partisan passions that prevented us from doing another rescue package will subside with the election. We need to do it, and I think we need to do it before the end of the year,” stated McConnell. With the U.S. economy continuing to recover but slowing down, many members of the Federal Reserve have called for Congress to pass economic relief. However in the likelihood of a lame duck administration, some economists believe that a deal is unlikely to pass in 2020. Evercore ISI economists and former Obama official Ernie Tedeschi warns that while the economy would be able to survive the lack of a deal in 2020, the people may not.

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