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After $2 Trillion Stimulus, a Call for Another U.S. Rescue Fund

  • Fund would stem ‘unprecedented systemic, economic crisis’
  • Groups seeking help represent insurers, hotel owners, theaters

The U.S. government is being urged by more than 30 industry groups to establish a recovery fund for businesses hurt by the spread of the coronavirus, less than a week after the enactment of a $2 trillion stimulus package.

The proposed fund, to be managed by a special administrator, would give relief to businesses to help them retain and rehire employees, maintain benefits, and keep up with expenses, according to a letter sent Tuesday to President Donald Trump, Treasury Secretary Steven Mnuchin and congressional leaders. It would augment the stimulus package, known as the CARES Act. The groups didn’t specify a dollar figure for the new fund.