Posted on 04/22/2020 11:21:06 AM PDT by Jane Long
The Senate on Tuesday passed a $484 billion package to bolster small businesses and hospitals ravaged by the coronavirus pandemic and expand testing for Covid-19.
After the unanimous Senate vote, the bill heads to the House, which aims to approve it by Thursday.
The measure injects another $310 billion into a key loan program designed to keep employees on small company payrolls. The initial $350 billion in the so-called Paycheck Protection Program, created as part of the $2 trillion rescue package passed last month, dried up last week. It is unclear how many firms have actually received the money.
(Excerpt) Read more at cnbc.com ...
The bill piles more money into an unprecedented government effort to relieve an economy and health-care system devastated by the coronavirus outbreak. More than 22 million people filed for unemployment benefits over the latest four-week period as businesses in most of the country remain closed to slow Covid-19′s spread.
More at link
Might as well just print money. And print more. Just give everything away.
What a load of crap.
I am certain there will be some other bill, bailing out cities and states, and everyone will just pass it along.
It is just paper money.
Let’s see how many big biz companies have their hand in this till.
Does anyone but me remember the movie The Magic Christian with Peter Sellers nd Ringo Starr?
The big ending was the vat of liquid filth that still had greedy people diving into to grab free money thrown into it.
Too much like the bailout today.
Agree.
It’s pretty sickening, isn’t it?
Yet...we find out that LARGE companies, and Universities, who don’t even NEED this helicopter money, have received some.
Yet, the true small biz’s, who’re barely hanging on, have had loans rejected.
INFURIATING.
Ineligible again. My Business Bank is Chase. So you all know what that means.
And my business doesn’t have a banking relationship with smaller banks or credit unions going back at least to February 15 (a number I’ve seen a lot on banking websites) I wouldn’t have as Chase was as “OK” Bank for my needs in the past. .
I’m NOT impressed with the roll out and lack of check points, with this *RELIEF* $$, so far.
Saw an interview with a gal, last night, on Fox who had the same problem as you....she was dealing with a large bank.
I guess the large banks only made sure their multi-million/billion $$ customers got the 1st round of loans approved.
Disgusting.
It will be immediately looted by banks and big corporations, again leaving true small businesses holding the bag. Just watch.
The House Democrats will pass this boondoggle without resistance.
One large regional hospital here in Florida went from 4 Chicom virus patients to 14 overnight. Turns out they transferred a bunch in from other hospitals. Meanwhile, the hospital is laying off staff due to lack of work due to the Chicom Flu hoax.
We’re still waiting and waiting for the Chicom virus “wave.” Obviously, it’s not happening in nearly all of the country.
After they add their various poison pills.
That’s what I’m thinking, too :-(
We know of so many small businesses who are barely hanging on, with this shut down.
At least Shake Shack gave their $$ back.
I’m surprised Rand Paul would vote for this POS.
More ridiculous debt.
I am just utterly sickened in how government prints NSF checks on the treasury which is empty but keeps printing while bankrupt government accrues more debt. It’s not theory that eventually spending like this will one day lead to a total collapse and Corona will be nothing compared to the American dollar worthless let alone most will have nothing but hunger,despair and rage.
IRRELEVANT. Small business cannot pay back these loans, so there is no sense taking them.
I thought bills like this (spending) have to begin in the House?
I don't want their money any more. We'll re-open on May 1st no matter what the politicians say, and fight our way through it.
Wait, I thought the Bill was supposed to cost $250 Billion. How did that amount nearly double?
Just kidding, I already know how.
Not sure....maybe since it’s not a new bill? Just adding on to the first bill?
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