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 ...
ping for later
Sounds good until you realize that the vast majority of those businesses are controlled by family members or front companies.
See my post #17...I saw that stat in another FR thread...
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.
Are Democrat provisions to guarantee voter fraud still included in the package?
How much money will be cycled through Ukraine?
The markets sure didn’t like something there at the end.
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.
It is not legal and should be removed. How wicked of the Demshevicks.
“... 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.
Thanks
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
It’s one big sh*t sandwich.
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?
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!!
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