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Pelosi forecasts House OK of Senate's $2.2T virus aid plan
ANDREW TAYLOR and ALAN FRAM
March 25, 2020
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$600 extra a week would be provided for four months. Plus $1,200 one time payment. Unemployment extended up to 39 weeks from 26.
$349 billion in loans to small businesses -- and money spent on rent, payroll and utilities becomes grants that don't need to be paid back. Many hotels would qualify as small businesses under the plan.
Passenger airlines would receive $25 billion for workers' "salaries and benefits," plus up to $25 billion more in loan guarantees and loans. Contract workers would also receive $3 billion in assistance.
About $17 billion will go to other distressed companies like Boeing, which is seen as essential to national security. And, approximately $200 billion would be provided in tax assistance to small businesses, including through payroll tax deferrals.
Page 524 of the bill text indicates that many businesses that take a government loan would be obligated to remain neutral in any "union organizing effort" during the loan -- a major giveaway to unions. Affected businesses would have between 500 and 10,000 employees.
And, Page 781 of the bill provides $25 million to the Democratic-controlled House of Representatives to cover "salary and expenses."
Also in the final bill text, $25 million would still be allocated for the Kennedy Center for the Performing Arts.
"Hell is for (our) children" - (Pat Benatar) ... who will have to pay this off.
I am well over the income threshold to receive a check, but I worry more about the people for whom that relatively small amount of money will do little to offset the devastating and perhaps permanent loss of their livelihoods. I live in one of the states on lockdown, but because I work in an essential field, I am an absolutely no danger of being out of work. I feel a little guilty for actually wishing I could take time off when there are some people worried that they might never have a job again. I've tried to do my part, stepped at my donations to Meals on Wheels, and making sure some of my older neighbors are able to get groceries. I've made it a point to continue patronizing our local businesses that are still open; at my favorite Chinese restaurant the owner was almost in tears the first time I went there after the lockdown, prompting me to order take out from them so often, my husband just assumes that's what we're having for dinner. Yes, this help from the government will help, but we all need to look out for each other.
Trump and his point man on the bill, Treasury Secretary Steve Mnuchin, are seen at a briefing on Wednesday
One of the last issues to close concerned $500 billion for guaranteed, subsidized loans to larger industries, including a fight over how generous to be with the airlines. Hospitals would get significant help as well.
A huge cash infusion for hospitals expecting a flood of COVID-19 patients grew during the talks to an estimated $130 billion. Another $45 billion would fund additional relief through the Federal Emergency Management Agency for local response efforts and community services.
The package is intended as relief for an economy spiraling into recession or worse and a nation facing a grim toll from an infection that's ...ed nearly 20,000 people worldwide.
Treasury Secretary Steven Mnuchin, asked how long the aid would keep the economy afloat, said: 'We've anticipated three months. Hopefully, we won´t need this for three months.'
Senate passage leaves final congressional approval up to the Dematic-controlled House on Friday. House members are scattered around the country and the timetable for votes in that chamber was unclear.....
Senate passes $2 TRILLION coronavirus stimulus bill
$300 mil for the Corporation for Public Broadcasting
$500 mil for the Institute of Museum & Library Services
$300 mil for Migration & Refugee Assistance
$23 mil for Howard University
$7 mil for Gallaudet University charter school in D.C.
$35 mil for JFK Performing Arts Center
$100 mil for NASA
$100 mil for "Construction and Environmental Compliance"
$278 mil for the IRS
$33 mil for NOAA facilities
$90 mil for an HIV program
$36 mil for "National Center for Advancing Translational Services"
• Expansion of wind & solar tax credits
• Conducting risk-limiting audits of results of elections
• Requires early and online voting
• Requires same-day voter registration
• Prohibits voter ID requirements
• Legalizes ballot harvesting nationwide (can't require witness signature or other methods of ensuring secure chain of custody)
• Cancels "any outstanding debt" of US Postal Service
• Ensuring federal taxpayers pay salaries of labor union officials
• $15 minimum wage
• Unprecedented collective bargaining powers for unions
• Requires airlines to fully offset carbon emissions by 2025
• Modifies retirement plans of community newspaper employees
• Expands use of minority banks and minority credit unions
• Diversity & inclusion initiatives for corporate boards
• Automatic extension of non-immigrant visas
• Restrict colleges from providing information about citizenship status
A big spending bill that politicians love and all agree on. Makes me very nervous.
So what is the plan to repay it?
My $1,200 check will cover my $445 State auto registration and a small portion of my annual County property tax. Easy come - easy go. The government eventually gets it right back in the kitty.
“Furloughed workers would get whatever amount a state usually provides for unemployment, plus a $600 per week add-on, with gig workers like Uber drivers covered for the first time.“
So what’s the point of working if you make more money unemployed?
Now they will be working on a 5% pay raise for themselves. It's a lot of responsibility spending 2.2 billion dollars of other people money.
Does anyone know if senior citizens are ones on Social Security is included in the package? I haven't read it anywhere yet.
So Americans get $1,200...to cover rent for a month?
Meanwhile we are bailing out industries that SHOULD have some sort of contingency plan for disruptions in business.
We tell everyday people, you should have 3-6 months of expenses saved up for unknowns.
Yet, we don't hold companies to the same standard, even as we watch them pour profits into stock buybacks...
How many companies that have touted record profits for last 10 years are getting a piece of that? If you've been making billions in profit and can't plan ahead with savings, why should we save you?
Remember every dollar the government gives out is paid by YOU THE AMERICAN TAXPAYER. No free handouts, we are paying for it.
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