Post by Dechucka Post by max headroom Post by Dechucka Post by Dechucka
Post by max headroom Post by Dechucka
Love it how nobody is calling Trump a socialist as he hands out a
US$Trillion to the US economy....
He can't; Congress can.
He did get his packet through
Don't you folks have question marks [?] on your keyboards?
Post by Dechucka
... I heard the Senate had passed it
You heard wrong. The Senate is finishing its first draft. The House
isn't that far along-- Pelosi is
determining how much pork she can stuff into any proposed bailout.
Sorry it was Trump's US$250 billion socialist stimulus package to bail
out the capitalists that I was thinking of. We have have the same
situation her with our Liberal Coalition pumping millions of dollars
into stimulating the economy after years of whinging about Labors
stimulus package that kept us out of the GFC.
What Congress is proposing now
The proposals for cash checks being weighed right now are dramatically
more generous, and more inclusive of America’s poorest residents, than
the 2001, 2008, and 2009 stimulus checks were.
The plans are coming so fast and furious that it’s hard to keep track of
all of them, but here are the main proposals from actual politicians
that I’m aware of as of Wednesday:
Treasury Secretary Steve Mnuchin reportedly wants cash transfers to
every American household in two payments, to go out on April 6 and May
18. The size of the transfers are to be determined and will be “tiered
based on income level and family size,” per a Treasury memo that
Bloomberg News obtained. Mnuchin on Wednesday specified he wants $1,000
checks per adult and $500 per child.
Senate Democrats, led by Michael Bennet (CO), Cory Booker (NJ), and
Sherrod Brown (OH), want $2,000 per American to go out immediately, plus
an additional $1,500 in July if the economy is still suffering or if
we’re still in a public health emergency, and an additional $1,000 in
October if the same conditions apply. The payments would be for people
with incomes under $90,000 / $180,000 for couples, and they would be per
individual, so a family of four would get $8,000 at first, then $6,000, etc.
House Financial Services Chair Maxine Waters (D-CA) has proposed
$2,000 per adult and $1,000 per child monthly checks, financed by the
Federal Reserve directly printing money, for the duration of the crisis.
Senator and presidential candidate Bernie Sanders (I-VT), as part
of a much bigger coronavirus relief plan, has proposed universal $2,000
monthly payments per American for the duration of the crisis, with no
reduction in benefits for children or means-testing.
Sen. Mitt Romney (R-UT) proposed a one-off $1,000 check to every
American adult. Romney’s proposal came early in the conversation, which
helps account for its relatively small scale.
Sen. Josh Hawley (R-MO) proposed offering all “families
experiencing school closures or financial hardship” a monthly benefit
worth $1,288 for a family of two, $1,446 for a family of three, $1,786
for a family of four, and $2,206 for a family of five for the duration
of the financial crisis. Single parents making under $50,000 would get
the full benefit, as would married parents making under $100,000. The
checks would be based on 2018 tax data. Childless households would not
Sen. Tom Cotton (R-AR) has proposed $1,000 per adult and $500 per
child or elderly/disabled dependent for single people making under
$50,000 and couples making under $100,000.
Reps. Tim Ryan (D-OH) and Ro Khanna (D-CA) have proposed a plan
under which “every American adult making up to $130,000 would receive at
least $1,000 and up to $2,000 per month for 6 months. Congress could
then renew this again for another 6 month period.” That plan, unveiled
on Tuesday, is already bolder than their initial plan unveiled last Friday.
Rep. Ilhan Omar (D-MN) has proposed $1,000 per adult, $500 per
child payments. Her communications strategist, Jeremy Slevin, told me
that the checks would be sent out monthly for the duration of the crisis.
The idea of cash payments as a response to the crisis was pitched in a
closed-door meeting of House Democrats, and initially Speaker Nancy
Pelosi reportedly expressed skepticism, concerned that rich Americans
could receive benefits. But her deputy chief of staff has clarified that
she’s on board for cash, just averse to distributing it without