While leaders on Capitol Hill thrash about on replenishing their own program to protect small-business workers, a bipartisan group in the Senate have begun work on Phase 4 of COVID-19 pandemic relief. The new focus for federal cash will fall on state and local governments that have seen revenue streams dry up as businesses shut down. Senators Bob Menendez (D-NJ) and Bill Cassidy (R-LA) have crafted a $500 billion bailout package that attempts to provide baseline cash while adjusting for both population and outbreak size. Perhaps we should be surprised that the price tag is as low as it is....