Congress has already passed one relief bill (the CARES Act) which offers expanded unemployment benefits, cash payments to households, loans to businesses and state or local governments, and other provisions. Discussions continue about further stimulus. Congress would be well-served to consider either direct spending on infrastructure or grants to the states to do the same. As shown in the chart below, investment spending by governments at all levels has been historically low, and infrastructure spending would help economic recovery after the initial collapse and bounce-back in activity has played out. Start a two-week free trial to one of Bespoke’s three premium memberships to see our best and most actionable market analysis.