Why it matters: What happens in Washington is often lost on the rest of the country. But this rescue package is the largest in American history, has the attention of leaders on both sides of Pennsylvania Avenue and matters to Americans back home.
The big picture: Washington leaders have already begun preliminary talks about a Phase 4 stimulus bill.
- Economists predict that we're likely to be in this same situation again — and soon, Axios' Dion Raboin reports. Another stimulus bill may be needed to jumpstart the economy after the virus outbreak has been contained.
- And more immediately, it's possible that a second massive spending bill will be needed just to stop further bleeding.
- “This cannot be our final bill,” House Speaker Nancy Pelosi said on the floor this afternoon, while other lawmakers referred to it as a “down payment.”
What's next: The Senate is now on an extended recess through April 20.
Ã¢ÂÂ Andrew Desiderio (@AndrewDesiderio) March 27, 2020
We probably won’t see curve flattening until the beginning of the silly season which seems to have seen the groundhog rather than the shadow.
— Kaitlan Collins (@kaitlancollins) March 27, 2020
— Ben Rhodes (@brhodes) March 27, 2020
— Richard Hine (@richardhine) March 27, 2020
— Media Matters (@mmfa) March 27, 2020
— The Hill (@thehill) March 27, 2020
Ã¢ÂÂ John Kerry (@JohnKerry) March 27, 2020
— Andrew Kimmel (@andrewkimmel) March 27, 2020
— Jeet Heer (@HeerJeet) March 27, 2020