Speaker Nancy Pelosi said this weekend that House Democrats plan to pass a new $2.4 trillion relief bill “that puts money in people’s pockets.” So it’s worth highlighting how the $2.2 trillion Cares Act that passed in March has disproportionately helped blue states that imposed stricter coronavirus lockdowns and have been slower to recover economically. The Bureau of Economic Analysis on Thursday published its second-quarter state personal income report, and the data show how lockdowns affected earnings and government income...

Source: Wall Street Journal September 28, 2020 23:07 UTC