As an agreement between Congressional Democrats and the White House for another round of fiscal relief was not reached President Trump attempted to take matters into his own hands by issuing a number of executive actions intended to provide relief for the American people.
These actions provide more support for the economy than if nothing was done. However, legal challenges could present issues for implementation and delay disbursement of funds. The executive actions draw on $44 billion appropriated to the Federal Emergency Management Agency (FEMA) in the CARES Act – and if the entire $44 billion was allocated to unemployment benefits, Wells Fargo Securities Economics Group estimates it will only cover four to six weeks of benefits based on current estimates of claims. The power to make a more impactful and substantial fiscal deal ultimately resides in Congress—if an agreement can be reached between the two parties.
This document has been created for informational purposes only, and is subject to change without notice. Information has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed.
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