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The Daily BeastMar 29, 2020
We Need a New Marshall Plan to Fight the Coronavirus
Photo Illustration by Elizabeth Brockway/The Daily BeastIn order to deal with the coronavirus, "we need a Marshall Plan immediately," Senate Minority Leader Chuck Schumer declared more than a week ago. Schumer has not been alone in invoking the Marshall Plan as a model for dealing with the coronavirus crisis. Jim Cramer, CNBC's most prominent economic analyst, has also called for an updated Marshall Plan, as has Senator Richard Blumenthal, the Connecticut Democrat.

They now have a down payment on their calls for a Marshall Plan in the $2 trillion aid package Congress and the Trump administration have agreed on. In addition to providing $100 billion for hospitals and health systems, the aid package will send direct payments to those earning up to $99,000 a year, expand and enhance unemployment benefits, extend loans to small businesses that will be forgiven if the businesses continue to pay their workers during the crisis, and aid distressed companies on the condition that the companies not engage in stock buybacks both while receiving government assistance for a year after that.

The $2 trillion package will certainly need additional appropriations, just as the Marshall Plan did after its first fis

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