Warren Releases $400 Billion Stimulus Plan to off Set Economic Impact of Coronavirus

Presidential hopeful Elizabeth Warren has criticized President Donald Trump for his response to the coronavirus outbreak.

In January, Warren released a plan to prevent and contain the spread of infectious diseases, as IJR has previously reported

Now, Warren has unveiled a $400 billion stimulus plan designed to limit the economic impact on businesses and individuals who may have to miss days or weeks of work for the treatment of the virus. 

“While it’s important that our leaders communicate calmly and clearly about the situation to avoid unnecessary panic, it’s just as important that we take decisive action to keep American families healthy and stabilize our economy as the virus spreads,” Warren’s plan reads.

The first part of Warren’s plan addresses healthcare and making sure Americans are able to get treatment for the coronavirus if they are showing symptoms of the virus. 

“Our response must ensure that every person in this country can get recommended evaluation, diagnosis, and treatment for coronavirus for free. Congress should dedicate sufficient funding to reimburse health care providers and hospitals for uncompensated care relating to coronavirus.”

Warren also calls for an increase in funding for research for the development of a vaccine for the coronavirus. Her plan also calls for making the vaccine free.

To help offset the financial strain individuals, Warren also calls for mandatory paid time off for individuals who are showing signs of the virus or who have family members who are showing signs so that they can get tested and treated.

“Create an emergency paid leave program so that anyone presenting with the symptoms of coronavirus, or who has a family member or other dependent presenting with the symptoms of coronavirus, can get fully paid time off of work to see a doctor, get treatment, or provide care.”

However, Warren does not provide specifics about how much those initial parts of her plan would cost.

Finally, Warren cites experts who state that the coronavirus outbreak could lead to a three-point drop in the Gross Domestic Product. To counteract the impact of the outbreak, Warren calls for a $400 billion stimulus package to help businesses that are affected by disruptions to the supply chain. 

“Based on those factors and the range of projections for the economic impact of coronavirus, we should immediately enact a stimulus package that represents an authorization of at least 2% of GDP, or roughly $400 billion.”

Warren calls for offering low or no-interest loans to businesses, as well as expanding unemployment insurance for individuals.

Trump on Monday slammed Federal Reserve Chairman Jerome Powell for being “slow to act,” when it comes to lowering the interest rates. 

Published in IJR, News

Responses

  1. Here’s a thought for Lizzie and the other “backseat drivers”.
    Instead of criticizing and undermining the president’s efforts HOW ABOUT HELPING?

  2. “Warren does not provide specifics about how much those initial parts of her plan would cost. ”

    I’d like Lyin’ Liz to provide specific examples where a person was denied healthcare due to the coronavirus. Crickets chirp. This is NOT the PRC or Iran, where government-run healthcare fails.

    Liz is right that globalism can hurt the economy, but how does she recommend treating “scared” investors and Wall St.?

  3. Talk about “economic impacts”!

    Wait until YOU get quarantined. You will have THOUSANDS of dollars in medical bills waiting for you when you get home.

    If a co-worker starts to feel sick, what are the chances of them going to work anyway because they can NOT afford the doctor or hospital bills. Then they make YOU sick and then YOU get even more big medical bills.

    Voting has consequences.

    #outnow “refusefascism.org”

    1. It’s going to be interesting here, compared to other places. Even for something as simple as testing for the virus, we are failing hard. South Korea can test tens of thousands of people, China can test millions, and our great nation was running at a 400 per day limit, turning away people because they didn’t fit the criteria for tests.

      We’ve lost 6 people so far out of around 100 known infected, and that’s with our hospitals running at full strength. There are probably a lot more infected, but with our pitiful testing process, they won’t know until they’re either very sick or have infected a whole lot of other people.

      Whatever happens, the next few months are going to be a rollercoaster, and I’m legitimately interested to see how we fare compared to other countries.

      1. There is also the very real effect in this election could be how Dear Leader’s response is compared to Bush’s failure to respond well to the destruction from a hurricane.

  4. Hey, it’s only money – – someone else’s she’s adding (to waste) to her growing list of economy busting proposals. We’re already standing at over $100 TRILLION to be spent by the Socialists/Communists over 10 years. Try and subtract that amount from the $47 TRILLION the IRS takes in in 10 years. #Idiots.

  5. Perhaps the Fed was “slow to act” because Trump repeatedly professes that this is the greatest economy ever! In what world does the Fed use the tools they have “in the greatest economy ever”? If they used them in “the greatest economy ever” WHAT tools would they have to address an impending downturn?

    1. This bugs me. If there is a crash, and I’ve been told one is brewing, it most likely won’t be the President’s fault.

      But him using all the safety nets to boost his numbers now with no thought on long term impacts will be his fault.

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