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Here’s everything you need to know about the coronavirus stimulus package
nypost ^ | 3/25/2020 | Steven Nelson and Ebony Bowden

Posted on 03/25/2020 12:47:12 PM PDT by bitt

The Senate’s massive economic stimulus deal to counteract the coronavirus includes a massive bailout for New York’s transit system and a ban on aid for President Trump’s holdings and those of members of Congress.

The lesser-known provisions were stuffed into the $2 trillion package during marathon negotiations between Senate Minority Leader Chuck Schumer of New York and Republicans, which ended early Wednesday in a deal.

Schumer’s office said Democrats won a $150 billion boost in hospital funding, a $150 billion relief fund for state and local governments and $25 billion for transit systems.

Of the transit dollars, $4.35 billion is earmarked for New York state, of which $3.8 billion is earmarked for New York’s Metropolitan Transportation Authority, Schumer’s office said.

The MTA, which operates city buses and the subway, is cutting service as demand plunges. Subway ridership is down nearly 90 percent.

The ban on aid to Trump family businesses was heralded by Schumer in an early-morning letter to colleagues. He said the $500 billion business loan program run by the Treasury Department will have an inspector general for oversight and a ban on money flowing to Trump, whose businesses brought in $461 million in revenue in 2018.

SEE ALSO

GOP coronavirus stimulus bill unveils $1,200 checks for public In a bullet-point list of accomplishments, Schumer wrote that the bill will “[p]rohibit businesses controlled by the President, Vice President, Members of Congress, and heads of Executive Departments from receiving loans or investments from Treasury programs.”

The final bill, which still has to be written ahead of an anticipated vote Wednesday, also boosts max unemployment pay by up to $600 a week, which Schumer said in a floor speech Tuesday means that furloughed workers can essentially get a full paycheck for four months during the crisis.

(Excerpt) Read more at nypost.com ...


TOPICS: Culture/Society; Extended News; Government; News/Current Events
KEYWORDS: coronaviru; coronavirus; package; sstimulus; stimulus
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To: bitt

ping for later


21 posted on 03/25/2020 1:22:45 PM PDT by be-baw
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To: Reddy
"bill will “[p]rohibit businesses controlled by the President, Vice President, Members of Congress, and heads of Executive Departments from receiving loans or investments from Treasury programs.”

Sounds good until you realize that the vast majority of those businesses are controlled by family members or front companies.

22 posted on 03/25/2020 1:23:24 PM PDT by fella ("As it was before Noah so shall it be again,")
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To: SuperLuminal

See my post #17...I saw that stat in another FR thread...


23 posted on 03/25/2020 1:24:40 PM PDT by devane617 (Kyrie Eleison, where I'm going, will you follow?)
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To: rktman

You darn skippy!

Months from now reports will trickle out how millions were given here and there that virtually no one knew about. I’m sure some Conservative news outlet will break a story about Paul Pelosi, the Bidens, the Clintons or countless other Pols who will have set up dummy corporations or something and got piles of government largess.

You watch.


24 posted on 03/25/2020 1:25:16 PM PDT by Obadiah (Kill the deep state or lose the Republic.)
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To: bitt

Are Democrat provisions to guarantee voter fraud still included in the package?


25 posted on 03/25/2020 1:27:14 PM PDT by GreenHornet
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To: bitt

How much money will be cycled through Ukraine?


26 posted on 03/25/2020 1:27:50 PM PDT by Obadiah (Kill the deep state or lose the Republic.)
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To: bitt

The markets sure didn’t like something there at the end.


27 posted on 03/25/2020 1:29:30 PM PDT by dfwgator (Endut! Hoch Hech!)
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To: Oldexpat

The issue isn’t so much that as big biz and even big small biz getting big bailouts while the hardest hit—gig and freelance workers don’t get anything. Also, why are we topping off the unemployment of highly paid workers?

What aid we give should be to help people get by, not necessarily to keep the wealthiest the wealthiest at the expense of the whole economy, which means subsidized by Working Joes.


28 posted on 03/25/2020 1:30:22 PM PDT by 9YearLurker
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To: Raycpa

It is not legal and should be removed. How wicked of the Demshevicks.


29 posted on 03/25/2020 1:30:24 PM PDT by madison10
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To: gibsonguy
HMMMMM ! I got laid off in 2011. Think I could still qualify? 😂💸
30 posted on 03/25/2020 1:32:02 PM PDT by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: gcparent

“... With bill you make more money from being unemployed than working.”

This is nothing new. Many on welfare get more by sucking the government teat than they would if gainfully employed. Our welfare programs are way out of control.


31 posted on 03/25/2020 1:32:41 PM PDT by ByteMercenary (Healthcare Insurance is *NOT* a Constitutional right.)
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To: Obadiah

32 posted on 03/25/2020 1:32:50 PM PDT by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: devane617

Thanks


33 posted on 03/25/2020 1:33:06 PM PDT by Reily
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To: SuperLuminal
Pres. Trump is a populists and would concede a bit to get what he desires (Economy kick-started).

Whatever this entails, I hope the have a plan to pay for all of this when things get back to normal, plus shrink the deficit at least.


34 posted on 03/25/2020 1:33:08 PM PDT by rollo tomasi
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To: bitt
The package’s central cash-injecting giveaway would cut checks of up to $1,200 to each taxpayer, with phased out for people who earned between $75,000 and $99,000 in 2018. For each child, there would be a $500 tax rebate.

Seriously, two years ago? What kind of BS is that?
35 posted on 03/25/2020 1:34:15 PM PDT by JoSixChip (I no longer support this government)
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To: dfwgator

Dems are back-tracking as well as time to actually digest what the stimulus enatails. Rat virus in China is spreading too (Hantavirus). Short the dead cat bounce? who knows


36 posted on 03/25/2020 1:36:53 PM PDT by rollo tomasi
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To: bitt

It’s one big sh*t sandwich.


37 posted on 03/25/2020 1:37:11 PM PDT by shanover (...To disarm the people is the best and most effectual way to enslave them.-S.Adams)
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To: bitt

Just more confusing. A check for each adult, or a check for each taxpayer? NY Post article uses “taxpayer.”

Unemployment benefits — for part time employees as well as full time?

My neighbor is 94. He doesn’t pay taxes. No one claims him as a dependant. Does he get a check?

The part time secretary who works no more than 5hrs/day, single no kids. She’s laid off now, can she apply for unemployment compensation?

Oh and how much loot is the Kennedy Center getting?


38 posted on 03/25/2020 1:39:05 PM PDT by Buttons12
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To: bitt
The package’s central cash-injecting giveaway would cut checks of up to $1,200 to each taxpayer, with phased out for people who earned between $75,000 and $99,000 in 2018. For each child, there would be a $500 tax rebate.

Illegal aliens who don't pay taxes but file to get family tax credits will get the full amount. Mere taxpayers like myself get nothing. Thanks gopE.
39 posted on 03/25/2020 1:39:15 PM PDT by JoSixChip (I no longer support this government)
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To: JoSixChip

Its based on last year 2018 irs returns. They dud dimilar in 2008. Plenty have not filed yet. I now read when you file in july based in new numbers they can take money back!!


40 posted on 03/25/2020 1:40:17 PM PDT by gcparent (Justice Brett Kavanaugh)
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