The $900B government aid package passed by the U.S. Congress in December will include a roughly $280B lifeline to small businesses, but more will probably be needed while the coronavirus pandemic rages, according to commercial real estate experts.
This week’s election of two additional Democrats to the U.S. Senate increases the chances that additional help will be forthcoming.
“I feel more optimistic now than at any point since this crisis started,” JLL Chief Economist Ryan Severino said. “I think small businesses have a chance to hang in there.”
The switch from Republican to Democratic control makes it more likely the $900B package, which also includes a $300 boost to unemployment benefits for 11 weeks, will be just the first step of many since spending packages can be passed with simple majorities, Severino said. And he believes there really isn’t any other…
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