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Bipratisan Senate Group Unveils $908 Billion COVID Relief Plan
USSA News ^ | 12/01/2020 | Tyler Durden

Posted on 12/01/2020 7:58:07 AM PST by SeekAndFind

While neither Republican nor Democratic leadership has signed on to the plan, a $908 billion bipartisan proposal from moderates has been unveiled this morning.

Under the proposed compromise being pitched, Bloomberg reports, small businesses would get a roughly $300 billion infusion for a version of the Paycheck Protection Program of forgivable loans and other aid, and state and local governments would get about $240 billion, including money for schools, according to three people familiar with the proposal.

Another $180 billion would go to an extension of pandemic unemployment benefits, providing an additional $300-a-week for four months.

Transportation including airlines, airports, transit and Amtrak would get $45 billion in funding, a person familiar with the plan said. Vaccines, testing and tracing would get $16 billion and health care providers $35 billion.

Source: @SarahDWire

The package would include a short-term moratorium on liability lawsuits related to Covid-19.

Backers of the new plan include Republican Senators Susan Collins, Lisa Murkowski, Mitt Romney and Bill Cassidy along with Democratic Senators Joe Manchin, Mark Warner, Jeanne Shaheen and independent Angus King.

Bear in mind that members of the bipartisan House Problem Solvers Caucus, which put forward a compromise during the fall that was rejected by Pelosi, also plan to endorse the new attempt.

The market's reaction perhaps says it all as it rallied on hope that Mnuchin and Pelosi were set to meet at 1pm, and then tumbled back as the "only" $908 billion package details were leaked...

It appears the market is demanding a lot more than around $1 trillion!



TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: covid19; relief; senate

1 posted on 12/01/2020 7:58:07 AM PST by SeekAndFind
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To: SeekAndFind

More massive spending on something there is no delegated power for. Wheee.


2 posted on 12/01/2020 7:59:56 AM PST by Rurudyne (Standup Philosopher)
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To: SeekAndFind

Fire up the Printing Presses, Keep the Colored Coupons flowing. At this rate we all gonna be RICH by Next Year when they add a ZERO to our Colored Coupons.


3 posted on 12/01/2020 8:03:02 AM PST by eyeamok
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To: SeekAndFind

There must be bodies everywhere.

The money handed out from the federal government to the Blackfoot Indian Tribe to help fight COVID was dished out in checks to the tribal members to spend as they please.

That’s how COVID relief works.

It relieves the Taxpayers of more money.


4 posted on 12/01/2020 8:03:17 AM PST by blueunicorn6 ("A crack shot and a good dancer”)
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To: SeekAndFind

It’s called “Raiding the till”


5 posted on 12/01/2020 8:25:07 AM PST by SMARTY ("It's easier to fool people than to convince them that they have been fooled." Twain)
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To: SeekAndFind

Blue states get bail out note first line on major issues list.


6 posted on 12/01/2020 8:43:00 AM PST by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: Rurudyne

No. Your income is property. What government has done, among many other violations of inalienable rights, has deprived people of their property. When government does that in the USA, it’s a “taking” and must be justly compensated by law. Eminent domain applies to all forms of property:

If they don’t want to compensate they shouldn’t have taken away property. These lockdowns are unconstitutional for a few reasons but let’s not forget the 5th amendment, and yes, it does apply here as property was taken, supposedly for “public good.”


7 posted on 12/01/2020 8:43:39 AM PST by apoxonu
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To: SMARTY

Liberals love to pick the winners and losers and do Not believe there are no strings attached when Libs had out cash.


8 posted on 12/01/2020 8:48:51 AM PST by CoastWatcher
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To: apoxonu

The ability to tax does to equate to an ability to spend in all cases whatsoever.

Or, put more succinctly, just because you levy a tax to support an expense (say social security) that does not make the expense lawful.


9 posted on 12/01/2020 8:50:53 AM PST by Rurudyne (Standup Philosopher)
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To: apoxonu

... as for other taking, the same applies.

Two wrongs do not make for amendments to the Constitution.


10 posted on 12/01/2020 8:52:47 AM PST by Rurudyne (Standup Philosopher)
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To: SeekAndFind

That money to state and local governments will go towards bailing out public pensions funds...


11 posted on 12/01/2020 8:54:13 AM PST by mewzilla (Break out the mustard seeds. )
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To: SeekAndFind
Widespread Unemployment Fraud Is Overwhelming State Systems

State government unemployment systems are under attack from fraudulent applications, as Pandemic Unemployment Assistance programs nationwide are being targeted by cybercriminals. And the situation is only getting worse.

12 posted on 12/01/2020 9:27:47 AM PST by 11th_VA (Et Tu Fox News ?)
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To: Rurudyne

Loss of income is not a tax; it’s theft unless compensated. Period. 5th amendment.


13 posted on 12/01/2020 9:49:03 AM PST by apoxonu
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To: Rurudyne

5th amendment is already in the Constitution.


14 posted on 12/01/2020 9:49:58 AM PST by apoxonu
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To: SeekAndFind

I see $4 Billion for Student Loans...


15 posted on 12/01/2020 10:14:27 AM PST by Trinity5
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To: Trinity5

On they are going to be so nice to us now that think pissy bide n will be president. Not happening.


16 posted on 12/01/2020 10:45:41 AM PST by Cowgirl
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To: SeekAndFind

Please don’t tell me they have hidden a bailout for big cities in this porkulus bill.


17 posted on 12/01/2020 11:53:56 AM PST by SharpRightTurn (Chuck Schumer--giving pond scum everywhere a bad name.)
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To: apoxonu

Yes. It is.

But income you didn’t earn yet when something happened to prevent it or will not earn because of circumstances beyond your control is not actually your property because of the implied “yet” in the equation. No one is in arrears to you or anyone else because earnings fall short of expectations.

And here is something else to consider: when the federal prints up money the value for it comes from the wealth people already hold ... if you balk (and rightfully so) at the federal acting lawlessly to shut down the economy why give them a pass when they rob savers for their “gifts”. It’s like with social security: just because someone was defrauded of their means to provide others with unlawful benefits beforehand does that give them the right to demand others be similarly defrauded so that they too may later receive their illegitimate benefits?

Moreover, there is no delegated power in the Constitution to spend money on individual welfare just because they are here (which is distinct from something because of current or previous service) or their lot was somehow affected by government actions no matter how desperate that person’s straights may be. Same with the welfare of communities or even whole states (why I oppose federal disaster welfare ... er, “relief”).

Sadly Mr No Repeal Eisenhower, who could have saved us from the looming ruin we now face, didn’t but rubber stamped FDR’s high handed lawlessness instead.


18 posted on 12/01/2020 2:38:48 PM PST by Rurudyne (Standup Philosopher)
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To: apoxonu

If you didn’t earn it, it was never yours.


19 posted on 12/01/2020 2:40:43 PM PST by Rurudyne (Standup Philosopher)
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