Posted on 03/19/2020 1:43:44 PM PDT by Red Badger
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.
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Treasury Secretary Steven Mnuchin on Thursday laid out details of the Trump administration’s plan to send Americans relief money as part of a massive stimulus package to blunt the impact of the novel coronavirus crisis.
Mnuchin said in a Fox Business Network interview that the plan, which is being discussed with congressional leaders of both parties, would send payments totaling $500 billion directly to Americans.
That money would be divided into two large 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.”
“As soon as Congress passes this, we get this out in three weeks. And then, six weeks later, if the president still has a national emergency, we’ll deliver another $3,000,” Mnuchin said.
The Trump administration’s proposal comes as stocks continue to fall, jobless claims start to rise and the number of Americans infected with or killed by the COVID-19 virus continues to expand.
Mnuchin said the White House’s plan would also allocate $300 billion for small businesses, noting that “there will be loan forgiveness” for employees who keep their workers on the payroll. $200 billion would also be used for “more facilities” with the Federal Reserve, as well as secured lending to airlines and other critical industries being strangled by the crisis.
The administration’s plan may face opposition on Capitol Hill, however. Senate Minority Leader Chuck Schumer, D-N.Y., argued on the floor of his chamber Wednesday that sending one-or-two-time checks would not provide enough to support people who lose their jobs.
Schumer suggested instead that providing expanded and “beefed-up” unemployment insurance would cover Americans “for a much longer time and would provide a much bigger safety net.”
Mnuchin has spoken with Schumer multiple times over the past few days.
President Donald Trump has already approved multiple emergency aid packages aimed at slowing the spread of the virus and helping Americans who could lose their jobs or otherwise be affected. An increasing number of cities and states have banned large gatherings of people and have forced many businesses to limit their services, sparking fears that mass unemployment could follow.
Earlier this month, the president signed into law an $8.3 billion bill that sailed through Congress with near-unanimous support. On Wednesday, Trump signed an additional $100 billion package that includes provisions for emergency paid leave for workers as well as free testing for the deadly virus.
Except self employed can’t get unemployment.
Once Congress gets their hands on it, there will be a few modifications:
Union members get 2x dollars
All military, active and retired not eligible
Transgenders, 3x dollars
All those living in Democrat Congressional Districts get 5x dollars.
It will be.
Yep. I am a single Dad. I make more than $99K so I get nada and get to pay for those who do. Mmmhmmm sounds like a good deal.... not.
Double it and it’s a deal.
They better hurry up. Checks go out in three weeks.
That is what they are hoping for and why the extra hype unlike the swine flu under Obama.
:) “It doesn’t matter how many rifles you buy...they’re still cheaper than one wife, in the long run.”
As you should. Too many holier then thou types around here.
Yes. There are two. One in three weeks and one in six weeks.
So I assume retirees are not included in the distribution.
I’m actually self-employed, and that never even occurred to me. Go figure.
Well that’s bullshit. I better get a tax credit equal to that.
Is that 70k per person? For example if one adult makes $100,000 and the other is a stay at home mom then would only one person get the check? Or since the combined income is less than $140,000 then would both get one?
One of the many details that needs to be worked out I guess.
This should be for verified tax payers only! No bonus checks for welfare queens!
Don’t cash them or destroy them the money will remain in the treasury.
I have been wondering about that all day with all the various “helicopter money” proposals. My income is only about 10% self-employed enough to pay attention.
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$70,000 is just okay for a lot of the US where that amount just gets you by.
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