The HEROES Act: The House Democrats’ Opening Proposition

You can call it the next phase of COVID-19 relief; call it CARES Act II. Or, call it by its legislative title: Health and Economic Recovery Omnibus Emergency Solutions Act or the HEROES Act, which is how most will refer to it. What it is called is not going to matter, frankly. What matters is that it amounts to about $3 trillion of federal relief, and what matters most to the municipal bond market is that it includes provisions that could potentially bolster credit quality.

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