Looking to the next Stimulus, it will be even harder to get

Congress is about to sign the next stimulus package. Yahoo Finance is researching how it can help the state and local economies, but it may be even more difficult to get the bill signed.
Video transcript
ADAM SHAPIRO: Now let's turn to what is going on in Washington DC and the big discussion about stimuli. Let me hear what we heard from Rep Gregory Meeks, who was at Yahoo Finance Live just this morning.
GREGORY MEEKS: I think we can get a real look at those who, through no fault of their own, have been badly hit because of this pandemic. And hopefully we'll see some light at the end of the tunnel because of the vaccine. And hopefully there will be another upturn in the economy in April, May and June and then we can look at what we know so we can gauge what to do in that particular time.
ADAM SHAPIRO: We are reaching out to Rick Newman to discuss matters that have a political problem. Rick, it's good to see you. And I know Diane was just bringing this up, the teachers, the state and local employees who lost their jobs during the pandemic, there is a number about how many of these state jobs have been lost and what we need to know about these people get back to work?
RICK NEWMAN: I actually looked at that data this morning, Adam, and since February, state and local governments have shed about a million jobs. I don't have a breakdown for you of how many are teachers, how many are cops, firefighters, and so on. However, that's more state and local jobs than during the Great Recession of 2007-2009.
When governors say they really need extra money from Washington, they mean it. Of course, this bill, which was only recently enacted on the full text of the law, has that indirect aid to schools, but not the hundreds of billions of dollars in direct aid to states and cities that Democrats want. So that's what is missing from this bill, and I think it is an open question whether we are likely to see another bill in 2021 that provides for that. It will really depend on whether Republicans or Democrats control the Senate after these two races in Georgia on January 5th.
- Yeah, you know Rick, I should be asking you, it sounds like it's going to be a lot harder to get through another round and you were just alluding to how the Georgia Senate races are going . What do you think? I mean, do you think there's any way forward no matter how that turns out?
RICK NEWMAN: Well, I'm going to hinder this as much as I can based on what my sources are saying today. First, there is a 70% chance Republicans will win one or both of these Senate seats in Georgia, and they only need one to maintain control of Congress. Let's call it a two-thirds chance Republicans will have control of the Senate in 2021 and a third chance that Democrats have.
If the Democrats control the Senate then there is - even if they do, there will be the least wiggle room possible with one vote, but it is possible that they will curl up a huge bill that has much of the stimulus in it, direct aid to cities and states, some other things, and probably just passing that with Democratic votes, or maybe just a few Republican votes.
If Republicans control the Senate, we are unlikely to see direct aid to states and cities because Senate Majority Leader Mitch McConnell and his group of Conservative Senators, they simply - they hate state and city aid because they see it as a bailout for them the blue state. There are a few other things you could do, like the supplemental unemployment insurance, which is $ 300 per week under that bill and which expires in March. In the past there was a bipartisan agreement to continue unemployment benefits and similar things. So my guess is that we won't see another $ 1 trillion bill for stimulus relief in 2021. We could see targeted stimuli, but it will most likely come piecemeal.

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