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Keyword: coronacash

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  • What's in the CARES Act? Part One - Individual Tax Provisions

    03/29/2020 8:24:29 AM PDT · by texas booster · 27 replies
    ISU Center for Agricultural Law and Taxation ^ | March 27, 2020 | Kristine A. Tidgren
    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...
  • Coronavirus: Trump signs into law largest bailout in US history

    03/27/2020 2:38:24 PM PDT · by Berlin_Freeper · 33 replies ^ | March 27, 2020 | BBC
    President Trump has signed the largest-ever US financial stimulus package, worth $2tn (£1.7tn), as the country grapples with the coronavirus pandemic. The House of Representatives passed the cross-party bill two days after the Senate debated its provisions. On Wednesday the number of Americans filing for unemployment surged to a record high of 3.3 million people. The US has more confirmed cases of coronavirus than any other country, with more than 97,000 positive tests. No Democratic lawmakers were invited to the historic signing ceremony, which was held at the White House.
  • President Trump Signs Coronavirus Economic Relief Bill

    03/27/2020 12:56:06 PM PDT · by Artemis Webb · 85 replies
    C-span ^ | 3/27/20 | C-span
    President Trump signs into law the bipartisan $2 trillion coronavirus economic aid bill.
  • House Passes $2 Trillion Emergency Relief Bill by Voice Vote After Hostile Debate

    03/27/2020 11:04:05 AM PDT · by jazusamo · 175 replies ^ | March 27, 2020 | Cortney O'Brien
    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....
  • $2 trillion in debt-financed coronavirus relief will cost future generations dearly

    03/26/2020 8:43:43 AM PDT · by Steve1999 · 34 replies
    Washington Examiner ^ | 03-26-20 | Brad Polumbo
    It makes sense that the federal government is stepping in to provide financial relief to the millions of citizens facing economic ruin due to the coronavirus crisis and subsequent government restrictions on activity. But what’s unconscionable is the fact that, thanks to the way Congress spent the last decade ignoring any sense of fiscal responsibility, coronavirus relief must come at the cost of further indebting future generations and dimming the outlook of our financial future. It’s not the $2 trillion price tag on the coronavirus relief bill, passed Wednesday evening by the Senate, that does this in and of itself....
  • Good News: Relief Bill Saves Kennedy Center For Performing Arts From COVID-19

    03/25/2020 10:43:12 PM PDT · by Helicondelta · 96 replies
    Rachel Bovard ^ | 3/26/2020
  • Here's how much money you're set to receive under the $2 trillion aid package

    03/25/2020 1:42:00 PM PDT · by artichokegrower · 156 replies
    San Francisco Chronicle ^ | March 25, 2020 | Katie Dowd
    Most Americans will be receiving checks from the federal government after President Donald Trump and Congress agreed to a $2 trillion coronavirus relief deal Wednesday. The stimulus is unprecedented in size, and politicians hope it will prevent the country from descending into a recession if a protracted fight against COVID-19 grinds the economy to a halt.
  • White House, Senate strike deal on historic $2T coronavirus relief bill; Pelosi offers tepid endorsement.

    03/25/2020 6:31:53 AM PDT · by carriage_hill · 10 replies
    Fox News ^ | 3.25.2020 | Gregg Re
    White House and Senate leaders reached a historic deal shortly after midnight Wednesday on a massive $2 trillion coronavirus relief package for workers and businesses, and House Speaker Nancy Pelosi offered something of a tepid endorsement of the agreement after previously pushing for her own legislation. The bipartisan breakthrough in the Senate capped days of heated negotiations that had nearly been derailed by last-minute demands from House Democrats. “Ladies and gentleman, we are done," White House legislative affairs director Eric Ueland announced as he left the office of Senate Majority Leader Mitch McConnell, R-Ky., near midnight. "We have a deal."
  • White House, Senate reach late-night deal on massive $2T coronavirus stimulus package

    03/24/2020 10:29:50 PM PDT · by LUV W · 158 replies ^ | 3-25-2020 | Gregg Re
    The White House and Senate leaders reached a breakthrough deal shortly after midnight Wednesday on a massive $2 trillion coronavirus relief package, Fox News has confirmed, capping off days of heated negotiations that had nearly been derailed by last-minute demands from House Democrats. “Ladies and gentleman, we are done," White House legislative affairs director Eric Ueland announced as he left the office of Senate Majority Leader Mitch McConnell, R-Ky., near midnight. "We have a deal."
  • The Trillion-Dollar Bailout May Change Our Politics Forever

    03/21/2020 7:25:06 AM PDT · by Kaslin · 49 replies ^ | March 21, 2020 | Neil Patel
    As members of Congress debate the terms of the trillion-dollar-plus coronavirus relief package for businesses and individuals, they would do well to remember our recent history. Most people in professional Washington hate the populist era we are going through. The populist period exists because Americans already feel like their elected officials are more responsive to large corporate interests than to the individuals who elected them. This played out big-time after the Wall Street bailouts fueled the tea party on the right and Occupy Wall Street on the left. People on the left and right agree that some government assistance...
  • Holy smokes, Trump approval rating pops…

    03/20/2020 11:29:40 AM PDT · by Red Badger · 165 replies ^ | March 20, 2020 2:25 pm | Kane
    According to ABC News, a new Ipsos poll released Friday shows that more Americans approve of Trump’s handling of the coronavirus outbreak than not despite a high number of people saying their lives have been upended. This is a massive jump from what it was last week: In the new poll, 55% of Americans approve of the president’s management of the crisis, compared to 43% who disapprove. Trump’s approval on this issue is up from last week, when the numbers were nearly reversed. Only 43% approved of Trump’s handling of the pandemic and 54% disapproved in last week’s poll. Over...
  • Majority of Americans now say they approve of Trump's handling of coronavirus: poll

    03/20/2020 6:56:28 AM PDT · by yesthatjallen · 44 replies
    The Hill ^ | 03 20 2020 | Marty Johnson
    The majority of Americans now approve of President Trump's handling of the coronavirus pandemic, a change from just one week prior, according to a new Ipsos/ABC News poll.Of those surveyed, 55 percent said that they approved of the president's handling of the situation, while 43 percent said they disapproved. The numbers were basically reversed from one week ago when 54 percent said they disapproved and 43 percent approved. Trump's tone and approach to the outbreak has changed in recent weeks, with the president now appearing at daily briefings at the White House with his coronavirus task force. Trump said this...
  • BREAKING NEWS: Mitch McConnell unveils $1,200 checks for every American earning under $75,000-a-year as part of Republicans' $1 trillion coronavirus bailout plan

    03/19/2020 4:20:12 PM PDT · by Aquamarine · 321 replies
    Daily ^ | March 19, 2020 | Katelyn Caralle, Nicki Schwab
    Senate Majority Leader Mitch McConnell is proposing direct payments of $1,200 per person and $2,400 for couples amid the coronavirus outbreak, according to a copy of the legislation obtained by The Associated Press. The GOP leader was poised to unveil the sweeping response Thursday as Congress raced to draft a $1 trillion measure to shore up for households and the U.S. economy. Among key elements would be the direct payments to Americans, aligned with the Trump administration's push for quick cash aid. Under McConnell's proposal, the minimum payments would be $600, and aid would be phased down at income thresholds...
  • America Will Find A Way

    03/20/2020 3:59:31 AM PDT · by Kaslin · 12 replies ^ | March 20, 2019 | Chris Stigall
    Driving home this week I passed a restaurant near my office in suburban Philadelphia. It was the lunch hour. No cars were in the normally crowded parking lot. Just one lonely tent with their logo and some employees gathered around. I’d forgotten for a second. The governor ordered their dining room closed to customers, just as he ordered all “non-essential” businesses in Pennsylvania to close in the midst of a national pandemic. But that lonely little tent in the parking lot restored some comfort to me during this otherwise surreal time. It was a makeshift drive-through born of necessity at...
  • Trump wants direct payments of $1,000 for adults, $500 for kids in coronavirus stimulus bill, Mnuchin says

    03/19/2020 1:43:44 PM PDT · by Red Badger · 112 replies
    CNBC ^ | Thu, Mar 19 20209:30 AM EDTUpdated 3 hours ago | Kevin Breuninger
    Key Points Treasury Secretary Steven Mnuchin on Thursday laid out details of the Trump administration’s plan to send Americans relief money. The White House is talking to congressional leaders of both parties about a massive stimulus package to blunt the impact of the coronavirus crisis. The proposal includes sending payments directly to Americans totaling $500 billion, broken up into two tranches. “The first one would be $1,000 per person, $500 per child,” Mnuchin said. “So for a family of four, that’s a $3,000 payment. ============================================================================= Treasury Secretary Steven Mnuchin on Thursday laid out details of the Trump administration’s plan to...
  • McConnell says stimulus checks would go to most Americans, as senators eye higher amount

    03/19/2020 12:06:48 PM PDT · by Hojczyk · 126 replies
    Fox News ^ | March 19,2020 | Brooke Singman
    McConnell indicated job status would not be a factor, and that the money would go to unemployed workers and those recently laid off; those still working; and retirees, even if they're already receiving Social Security checks. While officials have indicated the ultra-rich would not be eligible, McConnell said Thursday the checks would still go to everybody "from the middle class on down. Period." How the middle class is defined can be a contentious subject when stimulus checks are on the line. One source told Fox Business Network that the amount would start to reduce for those making $75,000 and above...
  • Republicans split on Americans getting $1K coronavirus checks

    03/18/2020 2:21:24 PM PDT · by ChicagoConservative27 · 67 replies
    nypost ^ | 03/18/2020 | Steven Nelson
    WASHINGTON — Republicans are divided on President Trump’s push to send large checks to all Americans as soon as April 6 to keep the coronavirus from crushing the economy — putting the universal payday in doubt. “I think it makes sense later, not now,” Sen. Lindsey Graham (R-SC) told reporters after a meeting of Senate Republicans on Wednesday afternoon. GOP leaders have three groups of senators crafting a $1 trillion stimulus package that could pass as early as this weekend. But with Republicans holding just 53 seats, even a small number of defections could block the idea of direct checks.
  • Trump’s economic aid could approach $1T, senators say

    03/17/2020 1:01:14 PM PDT · by Oldeconomybuyer · 46 replies
    The Associated Press ^ | March 17, 2020 | By LISA MASCARO and ZEKE MILLER
    WASHINGTON - President Donald Trump is asking Congress to unleash a torrent of emergency economic aid - including direct checks to Americans - an effort unseen since the Great Recession to shore up households and the economy amid the coronavirus crisis. Trump wants checks out to the public within two weeks as part of what officials said could approach a $1 trillion package. Congressional leaders vowed swift action. Treasury Secretary Steven Mnuchin appeared on Capitol Hill to brief Senate Republicans as state and local officials acted more forcefully to restrict gatherings and mobility in the face of growing sickness. “We...
  • A Plan To Save Main Street From The Coronavirus Economic Crisis

    03/17/2020 12:02:44 PM PDT · by Kaslin · 41 replies
    The Federalist ^ | March 17, 2020 | Christopher Bedford
    House Speaker Nancy Pelosi's coronavirus bill is not enough. It is not nearly enough. And if there is any hope of keeping the U.S. economy from free fall, its deficiencies must be addressed this week. House Speaker Nancy Pelosi’s coronavirus bill is not enough. It is not nearly enough. And if there is any hope of keeping the U.S. economy from free fall, its deficiencies must be addressed this week with a combination of immediate and direct aid to the businesses that feed our families, host our celebrations, employ our neighbors, sponsor our Little Leagues, and make our towns our...
  • FREE MONEY? CNBC Boosts Romney’s Coronavirus Plan to Give EVERY American $1,000

    03/17/2020 9:54:59 AM PDT · by JV3MRC · 45 replies
    NewsBusters ^ | 3/17/2020 | Joseph Vazquez
    CNBC apparently had no problem treating Sen. Mitt Romney’s (R-UT) coronavirus plan to give “every” American $1,000 as a rational idea. CNBC came right off the bat to make the senator look like some sort of philanthropist: “GOP Sen. Mitt Romney proposed on Monday sending every American adult $1,000 to ease the financial pain of the coronavirus pandemic that has tanked global markets and threatened to grind U.S. economic activity to a halt.” Did the outlet consider the irony that such a policy could require massive spending and tax increases that would further “grind U.S. economic activity to a halt”?