A Memo from Rep. Maxine Waters Suggests Stimulus Priorities, Ceasing Debt Collection

In response to the overall economic uncertainty in this, our time of quarantine, House Financial Services Chairwoman Maxine Waters published a set of proposals— "proposals" is a key word here—on Wednesday evening, 18 March, for the next fiscal stimulus bill that Congress plans to take up to soften the huge damage the coronavirus is inflicting on the economy.

Waters is suggesting direct cash payments—larger and longer lasting than in other proposals—and suspension of nearly all consumer and small business debt payments, supported by reimbursements to creditors through the Federal Reserve.

(An excellent rundown of the various proposals being suggested is over at Roll Call: In memo, Rep. Maxine Waters lists stimulus priorities, ignoring industries.)

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