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Donald J. Trump @realDonaldTrump Covid Relief Negotiations are moving along. Go Big! 8:48 AM · Oct 9, 2020·Twitter for iPhone 20K Retweets 2.2K Quote Tweets 112.2K Likes MatthewJshow @MatthewJshow · 4h Replying to @realDonaldTrump GREATEST PRESIDENT EVER!

The $3 trillion coronavirus aid package Democrats introduced Tuesday calls for the Treasury to make payments of up to $10,000 per student loan. The proposal, which Democrats plan to vote on Friday, calls for Treasury to make student loan payments until September 2021. Any unused portion of the $10,000 would be applied to the outstanding loan balance if it’s not reached by the 2021 deadline. Senate Democrats earlier this year proposed the cancellation of student loan payments during the coronavirus pandemic in addition to wiping out at least $10,000 in student loan debt.

Treasury Secretary Steven Mnuchin said Monday the Trump administration is prepared to back additional stimulus money to blunt the economic pain of the coronavirus pandemic if necessary. "If we need to put more money out to support American business and American workers, the president is absolutely prepared to do that," Mnuchin told FOX Business' Maria Bartiromo on Monday.

WASHINGTON - The financial conditions of the government’s two biggest benefits programs remain shaky, with Medicare projected to become insolvent in six years and Social Security on track to no longer be able to pay full benefits starting in 2035. And that’s without accounting for the impact of the coronavirus, which is sure to impose further pressure on the two programs. For Social Security, the projected 2035 date for exhausting the trust fund reserves means that it would be able to pay only 79% of benefits at that time. The projected timetables, which remained unchanged from last year’s estimates, were...

Most Social Security recipients will be paid automatically, but there are some big exceptions. The U.S. Treasury Department recently announced that Social Security beneficiaries who aren't typically required to file a tax return won't need to take any special action to get a $1,200 stimulus payment. Because of this, most Social Security beneficiaries don't have to take any special action -- the payment will be automatically paid in the same manner as their Social Security benefits. On the other hand, there are some Social Security recipients who may still need to take action, especially if they want to maximize the...

The Department of Agriculture will implement a new $19 billion COVID-19 coronavirus relief plan for food producers that includes direct payments to farmers, as announced by President Trump during the White House briefing on Friday.

Prior to the economic downturn—or collapse—that we’re now experiencing, the trust fund was projected to run out of money by 2035. This has, practically overnight, gotten worse. Why? Because some 16 million Americans have lost their jobs in the last three weeks. This means there are a lot fewer—millions fewer—people paying those payroll taxes into the Social Security system. And on top of a lot less money coming in, a lot more will soon be going out. That’s because people who are now out of work and eligible to draw benefits may soon do so, out of sheer economic need....

House Democrats introduced legislation Friday that would allow illegal immigrants to receive money from the coronavirus relief package. . . . Several Democrats have expressed dismay that the initial coronavirus relief package didn’t include financial benefits for illegal immigrants, including Rep. Alexandria Ocasio-Cortez, who called it “inhumane.”

The Treasury announced late Wednesday that Social Security beneficiaries who typically do not file a tax return will automatically get the $1,200 payment. The announcement is a reversal from earlier in the week when the Internal Revenue Service said everyone would need to file some sort of tax return in order to qualify for the payments. Democrats and some Republicans criticized the IRS for requiring so many extra hurdles for this vulnerable population to get aid when the government already has their information on file. The reversal came as the Trump administration tries to rapidly get stimulus payments out to...

Rebates for Individuals (§ 2201)The most wide-reaching provision in the law provides “2020 recovery rebates for individuals.” These rebates, which are characterized as credits against 2020 taxable income, will be issued in the amount of $1,200 for “eligible individuals” or $2,400 for “eligible individuals” filing a joint return. In addition, “eligible individuals” will receive $500 for each “qualifying child,” as defined by IRC § 24(c), for purposes of the child tax credit. This generally includes dependent children under the age of 17 for whom the individual has a social security number. “Eligible individuals” include “any individual” except for: Nonresident alien...

During the debate on the $2 trillion coronavirus stimulus bill, one of the most consequential pieces of legislation in contemporary history, Speaker of the House Nancy Pelosi (D-CA) did something appalling. With the agreement of both Republicans and Democrats in House leadership, the Speaker blocked a recorded vote on the bill. It is an old leadership trick to protect members from controversial votes by not forcing them to take a position. In retrospect, this is going to be one of the most important votes the sitting members of Congress will ever take, yet they came up with excuses not to...

President Trump has signed the largest-ever US financial stimulus package, worth $2tn (£1.7tn), as the country grapples with the coronavirus pandemic. The House of Representatives passed the cross-party bill two days after the Senate debated its provisions. On Wednesday the number of Americans filing for unemployment surged to a record high of 3.3 million people. The US has more confirmed cases of coronavirus than any other country, with more than 97,000 positive tests. No Democratic lawmakers were invited to the historic signing ceremony, which was held at the White House.

As you may have heard, our nation's most successful social program is in a bit of a bind. Every year since 1982, the Social Security program has generated a net cash surplus. By bringing in more revenue than is paid out in benefits each year, the program has been able to build up a $2.9 trillion reserve. However, according to the 2019 report from the Social Security Board of Trustees, the program is about to hit an unwanted inflection point. You see, more than a half-dozen ongoing demographic changes are expected to result in Social Security expending more than it...

As the government shutdown loomed over the holidays, heads of federal agencies and departments overseeing health and public assistance services tweeted that, regardless of what was happening in Washington, they were attending, as much as possible, to business as usual. In a statement over the holiday weekend, Secretary of Agriculture Sonny Perdue said, “There may be a lapse in funding for the federal government, but that will not relieve USDA of its responsibilities for safeguarding life and property through the critical services we provide.” According to the statement, 61% of the Department of Agriculture’s employees would continue to work through...

Social Security is running out of money. You may not believe that, but it's a fact. That FICA money taken from your paycheck was not saved for you in a "trust fund." Politicians misled us. They spent every penny the moment it came in. This started as soon as they created Social Security. They assumed that FICA payments from young workers would cover the cost of sending checks to older people. After all, at the time, most Americans died before they reached 65. Now, however, people keep living longer. There just aren't enough young people to cover my Social Security...

The Trump administration announced Tuesday that it will grant up to $12 billion in emergency aid to farmers hurt by retaliatory tariffs in the ongoing trade fight with China and other American trading partners. Secretary of Agriculture Sonny Perdue said that the plan, which will provide direct assistance and other temporary relief for farmers through the USDA’s commodity program, is meant as a stopgap to give Trump time to negotiate a long-term policy with China, the European Union and others. The plan was announced as Trump spoke at the Veterans of Foreign Wars national convention in Kansas City, where he...

In his first major speech since leaving office, former President Barack Obama endorsed the idea of providing a universal basic income. Speaking at the Nelson Mandela Annual Lecture in South Africa on Tuesday, Obama raised the notion of guaranteed income as a way to reduce what he called "yawning disparities" in wealth, education, and security across different socioeconomic groups. "It's not just money that a job provides," said Obama. "It provides dignity and structure and a sense of place and a sense of purpose. So we're going to have to consider new ways of thinking about these problems, like a...

( Full Title )While Everyone Was Focused on SCOTUS Pick, US Judge ELIMINATED Work Requirements for Welfare Programs Over the last month or so, people have been wondering who Trump would appoint to replace Justice Kennedy on the Supreme Court. Obviously, that’s an incredibly important news story to follow and it’s nice to know that Trump ultimately picked a solid conservative in Brett Kavanaugh. However, there’s still a lot of other stuff going on that Americans should be paying attention to. For example, an Obama appointed judge recently ruled against work requirements for welfare programs. Here’s more on that. From...

If you read the latest Social Security Trustees Report, you're aware that the program's combined trust funds are expected to run dry in 2034. And clearly, that's not great news. But before you start panicking about your benefits, it's important that you understand the implications of those trust funds running out.Social Security won't go broke The most important thing you should know about Social Security's trust funds is that they're not the program's primary source of funding. Rather, the bulk of the revenue that Social Security takes in comes from payroll taxes. Now for the first time in multiple decades,...

Aging population is boosting the costs of Social Security and Medicare as growth projections ease The Social Security program’s costs will exceed its income this year for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits. This is three years sooner than expected a year ago, partly due to lower economic growth projections, according to the latest annual report the trustees of Social Security and Medicare released Tuesday. The program’s income comes from tax revenue and interest from its trust fund. The trust fund will be depleted in 2034...