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.
Shooting their was far too soon.
Should I save the government some time and just print my own?
They would frown upon that......................
A friend of ours on Canada is applying for mortgage relief even though he was already unemployed anyways
How are they identifying people? IRS accounts?
Looks like a huge opportunity for fraud, and Leftist organizations will know how to collect on that fraud.
With the insanity unleashed by Justice Kennedy they may have to define "family".
Many workers are being furloughed without pay. They aren’t eligible for unemployment benefits because they are still employed by the company they work for, but they being forced to stay away from work.
I wish everyone had 3-6 months of an emergency fund, but most people don’t. These checks, while not a huge amount, may allow people to keep their electric and water on for another month.. or buy some food supplies.
I’m one of those workers that cannot go into work, and have no idea if or when I will be allowed back. It may be 2 weeks, it may be 6 months. Either way, I’m cashing whatever check I get and being thankful that it was given.
Notice that the Treasury Secretary used the phrase “The FIRST ONE...”............................
An earlier article I read said under 70k is 1000-1200. Still
Negotiating. 70-90k it gets paired down. Over 99k you get 0.
The over 99K just get to pay for all of this :(
I am in the same boat the shop i work at closed.
Cool! I can buy two nice pistols and some ammo for $1K.
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Only if you’re making under 70K, per one article.
It’s probably based on tax returns. So....1-2-3. What about illegals?
LOL!
You have to have been around awhile to recognize where that film clip is from.
It sums up the situation perfectly: if you can’t figure out what really needs to be done, just start throwing lots of money at the problem and hope that some of it ends up funding useful solutions.
Based 2018 income? or 2019? or 2020 income? (after layoffs, etc.)? My guess...2018 income or 2019 if you filed taxes already.
“Slim chance” my arse. 50% of Americans are pretty damn stupid. But if they’re stupid enough to think that Biden could fix this...they’re catastrophically stupid.
HAHA!!
They’ll still spend it. Or put it in the bank where most of it will become a loan. A big part of this isn’t just helping those that lost money get some of it back. It’s jump starting the movement of money, give the economy some momentum. Money never just gets spent once, a worker gets paid, and he spends, which turns into somebody else’s pay, or go to suppliers, and round and round and round. Pull that plug at any point and the money motion stops. This is a kick start, push some motion. Honestly they’re probably hoping a lot of it goes to folks who don’t “need” it. Those people are likely to see it as “fun” money, splurging at nice restaurants they don’t normally go to, or maybe buying that high end phone they can never justify. Make the wheel spin.
Is that in there? A family? Individual? That’s not much of an income especially if two work.
Easy sign it over to me please.
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