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According to congress.gov, H.R.748 Coronavirus Aid, Relief, and Economic Security Act or the CARES Act, was introduced in January of 2019 by Rep. Joe Courtney (D). If this COVID-19 is an unexpected outbreak, how is it that this bill was introduced nearly a year and a half ago? https://www.congress.gov/bill/116th-congress/house-bill/748?q=%7B%22search%22%3A%5B%22Hr748%22%5D%7D&s=1&r=1

Congress passed and President Donald Trump signed into law the CARES Act to provide emergency measures to help us get through the economic crisis caused by the COVID-19 shutdown. A crucial objective was to provide funds to the many individuals who suddenly found themselves cash-strapped and unable to pay bills because, through no fault of their own, they were out of work. Two major provisions are $1,200 cash payments for individuals, and relaxing rules to allow withdrawal from or loans against IRAs, 401(k)s and other defined benefit retirement plans without penalties or tax consequences. The cash payments received most...

Senior Editor Chris Bedford interviews Congressman Chip Roy on federal bail outs and reopening the economy amid the coronaviurs shut down. No dime of bailout money should go to state or local governments that continue “to lock down commerce,” Texas Rep. Chip Roy told The Federalist Radio Hour in a far-reaching Friday interview now available in its entirety. “Frankly, I’ve got to think about [giving money] at all, but if we think it’s appropriate to help them from losing some of their tax base, I sure as hell don’t want money to [state and local governments] who are continuing to...

State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to pass Congress this week. In many places, those painful reductions are already taking shape: Los Angeles plans to force city workers to spend 26 days on unpaid leave as revenues are forecast to drop as much as $600 million next fiscal year. Detroit has proposed laying off 200 workers and furloughing thousands more. In Ohio’s Hamilton County, Commissioner Denise Driehaus is taking a 10% pay cut alongside county workers. “We are really struggling,” Driehaus...

With so many needing help after the one-two punch of the virus and attendant economic woes, universities, which have already drained trillions without fulfilling their promises, should be at the back of the line. Even before the coronavirus crisis, universities were living large on taxpayer largesse. The entire foundation of their business model is the government-backed student loan. More than 90 percent of the dollars that trundle freshmen to their institutions each September originate with or are owned by taxpayers through the U.S. Department of Education.If, as projections suggest, enrollment takes a nosedive this fall due to changing financial situations...

was unaffected by the coronavirus, appeared virtually on a late-night television show to flaunt her mansion and personal stockpile of gourmet ice cream. "I like it better than anything else," the speaker mused, in the middle of a viral outbreak that has killed tens of thousands of Americans and left millions unemployed. The PPP was part of the CARES Act, the relief bill passed after the government shut down businesses they deemed nonessential. Small businesses, which employ a majority of the workforce, were depending upon the PPP for funding to retain workers and keep their businesses afloat as the government...

Rarely has a word been subject to so much misuse in recent years as “stimulus.” The Coronavirus Aid, Relief, and Economic Security Act (CARES), overwhelmingly passed by Congress and signed by President Trump on March 27, represents an apex of this language malpractice. The stated purpose of this $2.2 trillion “stimulus plan” is to boost our economy in the wake of virus-induced mass layoffs and business closings. But the implicit purpose is paying people not to work. Section 4022, a residential landlord bailout, effectively does that. And it may prove very expensive. Fear of COVID-19 has triggered an economic downturn...

I own a grocery store in Northern Michigan. Or I did until today. 80% of my staff just quit because the CARES Act pays them more for sitting at home than to come into work. I pay them on average $600-700 per week. The CARES ACT will give them 80% of that (regular Michigan unemployment 480-560) plus an additional $600 through the cares act. So $1100 to sit at home or $600 to come to work. But if they quit they don't get unemployment right? Wrong the CARES ACT says if the employee is uncomfortable working because of the Covid-virus...

While it looks like everyone is taking seriously the average worker’s needs, no one at the decision-making level has thought of the small business owner. If you’re a small business owner like I am, you’ve been closely following the stimulus efforts of the federal government, looking for a lifeline out of the mess of delayed payments, lost revenue, and furloughed employees. Unfortunately, while it looks as though everyone is taking seriously the average worker’s needs, no one at the decision-making level has thought of the small business owner. Congress passed the Families First Coronavirus Response Act on March 18, providing...

The $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a vast array of spending provisions, including an additional $100 billion for the Public Health and Social Services Emergency Fund. This new funding is designed to provide an influx of money to hospitals and other health care entities responding to the coronavirus pandemic. This $100 billion averages out to about $108,000 per hospital bed in the United States... The $100 billion fund was established to help hospitals ramp up quickly, in response to new demands, giving the Secretary of Health and Human Services broad discretion over how the...

Two weeks ago, President Donald Trump signed the largest stimulus bill in U.S. history: more than $2 trillion. For once, both Republicans and Democrats agreed. The Senate voted 96-0. The House didn't even bother with a formal vote. At the White House, a reporter asked the president, pointing out that the bill includes $25 million for the Kennedy Center, "Shouldn't that money be going to masks?" "The Kennedy Center has suffered greatly because nobody can go there," Trump responded. "They do need some funding. And look -- that was a Democrat request. That was not my request. But you got...

Of all the industries feeling the fallout of the Coronavirus pandemic, America’s airlines are likely the hardest hit. The Transportation Security Administration estimates that air traffic is down 90 percent as President Trump is purportedly considering domestic travel restrictions on top of the international bans already put in place. Congress sensibly stepped in to protect the struggling airline industry in the Coronavirus Aid, Relief, and. Economic Security (CARES) Act, providing aviation businesses $29 billion in loans and loan guarantees and $32 billion in direct grants to defray payroll costs. But in exchange, Congress empowered the federal government to demand access...

This has got to be the stupidest thing I've heard yet out of our gubermint. First paragraph, last sentence: "However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment." SERIOUSLY??? We're all locking down, seniors are the most vulnerable, and the IRS is going to send them out to file a tax return they otherwise are not required to file??? What nimrod came up with that idea?

Late Friday afternoon, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), or “Phase 3” of the coronavirus relief packages, into law. The bipartisan $2.2 trillion COVID-19 relief package passed in the Senate by a unanimous 96-0 vote on Wednesday, followed by a voice vote in the U.S. House Representatives Friday afternoon. The CARES Act aims to financially assist American families and businesses in the wake of the economic disruption of the COVID-19 (coronavirus) pandemic sweeping the nation and world. The Act provides direct cash payments of $1,200 to most American adults, and an additional $500...

Rebates for Individuals (§ 2201)The most wide-reaching provision in the law provides “2020 recovery rebates for individuals.” These rebates, which are characterized as credits against 2020 taxable income, will be issued in the amount of $1,200 for “eligible individuals” or $2,400 for “eligible individuals” filing a joint return. In addition, “eligible individuals” will receive $500 for each “qualifying child,” as defined by IRC § 24(c), for purposes of the child tax credit. This generally includes dependent children under the age of 17 for whom the individual has a social security number. “Eligible individuals” include “any individual” except for: Nonresident alien...

Oval Office   4:10 P.M. EDT  THE PRESIDENT:  Well, thank you all very much.  This is a very important day.  I’ll sign the single-biggest economic relief package in American history and, I must say, or any other package, by the way.  It’s twice as large as any relief ever signed.  It’s $2.2 billion, but it actually goes up to 6.2 — potentially — billion dollars — trillion dollars.  So you’re talking about 6.2 trillion-dollar bill.  Nothing like that.  And this will deliver urgently needed relief to our nation’s families, workers, and businesses.  And that’s what this is all about.And it...

The CARES Act, the $2 trillion coronavirus emergency relief bill that serves as Phase Three of Congress's coronavirus relief efforts, has passed the House of Representatives. It is the largest stimulus package in U.S. history and aims to provide funding for hospitals, and targeted relief for small businesses. The successful vote comes after hours of cantankerous debate, in which one unhinged Democratic representative was ruled " out of order " on the House floor. Once the measure finally passed, the entire House erupted - in a positive way. Lisa Desjardins ✔@LisaDNews WOW and just like that, the motion is adopted....

The federal government is poised to send checks — or make direct deposits — to most Americans to help people survive financially in the wake of the COVID-19 coronavirus pandemic. The health crisis has evolved into an economic crisis as businesses and schools shut down to slow the spread of the virus. Based on the CARES act approved by the U.S. Senate late Wednesday, many American would receive a payments of $1,200, and families would see an extra $500 per child they claim as a dependent on their tax returns. Want to know how much you are projected to receive?...

Believe me, these ten minutes are worth your time. Here's Sen. John Barrasso (R-WY) absolutely ripping House Speaker Nancy Pelosi (D-CA) and the Democrats for sneaking in a laundry list of progressive, environmental provisions into the CARES Act, the third phase of Congress's coronavirus response intended to provide aid, relief, and economic security for individuals and businesses during this unpredictable era. Barrasso kicked off his remarks by condemning "the demands by the Democrats to muck up a bill that is designed as a rescue operation for the American people." He next identified the culprit. "Nancy Pelosi flew back from California...