CBS News
The surge in coronavirus cases across many U.S. states will come with a big price tag. The next bailout package will need to be at least $1.5 trillion, compared with an estimate of $1 trillion before the rise in COVID-19 cases, according to Moody's Analytics chief economist Mark Zandi. "A few weeks ago I thought $1 trillion would be enough," Zandi said on a conference call hosted by the Center on Budget and Policy Priorities. But now, he added, a fiscal package of $1.5 trillion in stimulus aid is needed in large part because of the virus' resurgence across swaths of the U.S., which is causing economic headwinds in those states. States that reopened early — such as Arizona and Texas — are suffering from surges in coronavirus cases, leading to rollbacks of economic activity as local officials try to stem infections. Nevada on Thursday tightened rules for bars and restaurants, effectively closing bars that don't serve food, for example.