Money

Even as average personal incomes rose during the pandemic largely because of government aid, millions of people who didn’t receive such help have fallen into poverty, struggling to pay for food and other basic expenses. That group, trying to get by with the help of local charities, may have been excluded from the federal payments because of immigration status, lack of time in the labor force needed to claim unemployment benefits, or just red tape in states that have been slow to pay jobless claims. And lawmakers in some states such as New York are proposing measures that would create relief funds for workers shut out of jobless payments. Houston-area food banks are employing some out-of-work restaurant employees to help with food distribution, regardless of immigration status, through a relief initiative called Get Shift Done. more »

"The negative economic effects of the pandemic come from two sources: capital obsolescence and belief scarring. The pandemic and lockdowns forced consumers to work and consume differently, which can generate persistent changes in tastes and habits for years to come. Capital obsolescence reflects this long-lasting change in the economic value of installed capital. For example, in the post-pandemic world there might be more online shopping instead of in-store purchases. Hence, some installed capital, for example, commercial real estate such as shopping malls, could become obsolete." more »

"The U.S. Fish and Wildlife Service (FWS) finalized a rule change that alters the process for designating critical habitat under the Endangered Species Act. This will weaken the ability to designate critical habitat for at-risk species and prioritize economics over science. The rule gives increased weight in decision making to developers to prioritize oil and gas development and other industries over safeguarding and restoring habitat for endangered species." more »

It will be important for the Trump administration and incoming Biden administration to develop plans to strictly enforce these requirements on insurers and providers to ensure that the public receives the vaccine for free as intended. The federal government should also put mechanisms in place so that any noncompliance that results in a bill to a patient can be resolved without cost or administrative burden for the patient. Laws and regulations ensure access to free COVID-19 vaccines for individuals regardless of their insurance status, although some of these protections are in effect only during the public health emergency or for the initial doses purchased through the COVID-19 Vaccination Program. more »