While the vast majority of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law late last week is devoted to domestic response and relief, the measure does include modest supplemental foreign aid funding and pending authorizations for international financial institutions to support the international response. These provisions, combined with the foreign aid funding provided as part of the initial supplemental legislation, are important.
CGD Policy Blogs
President Trump’s FY2020 budget request landed with a thud on Capitol Hill Monday. Once again, the administration is proposing deep cuts to the international affairs budget and, once again, members of Congress on both sides of the aisle have pledged to reject the proposed reductions in US development and diplomacy spending.
Demand for development finance as a key complement to traditional aid is growing, but despite the impressive strength of the US private sector, the US government’s ability to respond—to date— has fallen short. The good news: Congress got the memo.