In the News

EAST LONGMEADOW -- U.S. Rep. Richard Neal, chairman of the House Ways and Means Committee, said work on another round of federal stimulus for the coronavirus-ravaged economy will be public in “a few days”.

It will have money for hospitals, Neal said, as well as money for state and local governments struggling with revenue losses and increased expenses from the coronavirus crisis. It’s possible there will be more payments to individuals as well.

The new package will also likely have a set of tax credits sought by Republican lawmakers who've been hesitant to back payments to state and municipal governments.

“I think that would be a fair trade-off,” Neal, D-Springfield, said Wednesday after touring the Excel Dryer factory in East Longmeadow.

As chairman of the House Ways and Means Committee, Neal has jurisdiction over tax policy, the IRS and managed the passage of the last stimulus bill on the House floor.

Neal defended the need to put money in the hands of state and local government saying impending budget problems are due to unprecedented lost revenue and the cost of providing basic services in a pandemic.

"It's not about mismanagement and bad decision making," he said.

Neal said economists advised lawmakers that the key to a quick, v-shaped recovery, is liquidity meaning the availability of money in the markets to drive demand.

That’s the logic behind the Paycheck Protection Program loans offered through the U.S. Small Business Administration.

“I never said the Paycheck Protection was perfect, but it’s getting better,” Neal said.