The dollar is already under pressure from the enormous deficit spending our government has taken on this year, (and previous years frankly) and the implications of a similar follow-on program would be further acceleration of that downward trend, with resulting rising bond yields, commodity prices, general cost of living, you name it. With Republicans maintaining control in the Senate, I'd say the chances of any stimulus of trillion dollar scale passing again are slim.
There was also remarkable fraud in the PPP program; it was rolled out with such haste that there weren't sufficient safeguards for taxpayer capital. The number of new businesses registered the month that program became active was off the charts. Frankly, even with weakness in the economy, unless the stock and credit markets rolls over bigtime, you're not going to see real urgency out of our government. A market at all time highs does not signal distress to these people.