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Will New Crisis Legislation Repair Damage from Last Week’s Crisis Legislation?

Sen. Chuck Schumer of New York (D., N.Y.) is bragging about changes he secured to the draft of a bloated federal stimulus bill by delaying its enactment for at least several days. But his delay may only have increased the incentive for businesses to fire their employees amid the coronavirus panic. That’s because another crisis plan he helped turn into law last week added new obligations on businesses without providing the immediate cash to fulfill them.

To be clear, this column endorses neither the current nor the previous…

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