NEW ORLEANS — The House-approved Heroes Act is designed to kickstart the U.S. economy while extending financial assistance to people and businesses suffering as a result of the Coronavirus outbreak.
The $3 trillion Democrat-backed proposal is now before the Republican-controlled Senate.
Senator John Kennedy, R-Louisiana, says the bill as written is dead on arrival.
“I think the consensus in the Senate is we’ll start over,” Kennedy said. “The only thing I’m certain of at this juncture is that Speaker Pelosi’s bill won’t pass.”
The legislation would provide $200 billion in hazard pay for essential workers; set aside $175 billion to help renters and homeowners make monthly payments; continue the weekly $600 federal unemployment payments through January and send Americans a second round of stimulus checks.
Kennedy said there are a lot of other things in the bill as well.
“It deals with immigration,” Kennedy said. “It deals with federalizing our elections. It deals with marijuana. It would release federal prisoners.”
Ernie Burns from Burns Wealth Management in New Orleans said most families could certainly use a second stimulus check.
“That $1200 or $2400 for the family might be really big to paying some bills they really need to get rid or to take care of,” Burns said.
Burns predicts the economy won’t recover overnight, particularly with 39 million people now out of work.
“We went from a very robust economy, the best one in 30 years, to basically shut everything off,” Burns said.
Sen. Kennedy said we should know in June whether the Senate plans to vote on another Coronavirus relief bill.
“My preference will be, if we do another bill, it will be to give relief to people and to businesses.
Kennedy added while there’s a lot he’s opposed to in the Heroes Act, he does support hazard pay for hospital workers on the front line of the COVID crisis.