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Greg Valliere, AGF Investments

The recent Paycheck Protection Program “pig-out” has complicated efforts to pass another stimulus package by early August, according to political analyst Greg Valliere, as the billions of dollars sent to “well-connected firms that didn’t need help” has “embarrassed Congress.”

On July 1, the House and Senate extended the PPP for small businesses until Aug. 8, with more than $130 billion still available.

Valliere, chief U.S. policy strategist of AGF Investments, said in his Wednesday morning briefing that while another stimulus bill will likely get done, “it’s not a slam-dunk, and it will take time — which will be in short supply when Congress comes back in the middle of this month before leaving again for most of August.”

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Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. She also wrote freelance articles for Institutional Investor in New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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