Tags: Coronavirus | Trump Administration | david mcintosh | virus rescue bill

David McIntosh to Newsmax TV: Virus Rescue Payments Won't Boost Economy

By    |   Friday, 27 March 2020 08:59 PM

The direct payments to families as part of the coronavirus rescue package signed into law Friday fall short of actually helping the economy, Club for Growth president David McIntosh told Newsmax TV.

McIntosh was on Friday's "Greg Kelly Reports" to discuss the bill that first passed in the Senate late Wednesday evening before the House approved it Friday. President Donald Trump signed the legislation into law Friday evening.

"When we looked at this bill, we knew Congress would do something. They were getting a lot of pressure from the financial markets to have policy-driven spending put into the economy," McIntosh said. "So we urged them to do as much as you can as loans, so the government can be repaid, they've done that."

McIntosh then addressed the payments to families, which will range from $1,200 to individuals making less than $75,000 a year to families of four receiving $3,400 if they make less than $150,000 a year.

"I would say the individual payments are not a problem they're causing, but they're a wasted opportunity," McIntosh said. "That's not gonna add any growth, any effort to actually create new jobs to help all the people who are being laid off and put on unemployment come back to work.

"So, it's a mixed bag. Something had to be done, that's clear. The government, let's face it, is creating this economic crisis in reacting to the coronavirus. And they feel they need to, the health experts are saying we need to shut down people going to work in order to flatten the curve and help us be able to treat those who get it. But at some point, the government has to reopen the economy so that we can get back to work."

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The direct payments to families as part of the coronavirus rescue package signed into law Friday fall short of actually helping the economy, Club for Growth president David McIntosh told Newsmax TV.
david mcintosh, virus rescue bill
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2020-59-27
Friday, 27 March 2020 08:59 PM
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