By a vote of 96-0, the Senate passed a massive $2 trillion coronavirus stimulus compromise package just before midnight Wednesday, ending days of deadlock and sending the bill to the House of Representatives — which House Speaker Nancy Pelosi said will soon take up the historic measure to bring relief to individuals, small businesses, and larger corporations “with strong bipartisan support,” Fox News reports.
The 880-page legislation is the largest economic relief bill in U.S. history. Senate Majority Leader Mitch McConnell, R-Ky., appeared somber and exhausted as he announced the vote. He released senators from Washington until April 20, though he promised to recall them if needed.
“96-0 in the United States Senate,” President Trump wrote on Twitter. “Congratulations AMERICA!”
Now to figure out what does this mean for those who are affected by the virus lay offs.
- Provides a one-time direct payment to Americans of $1,200 per adult making up to $75,000 a year, and $2,400 to married couples making up to $150,000, with $500 payments per child. After a $75,000 threshold for individuals, the benefit would be reduced by $5 for each $100 the taxpayer makes. A similar $150,000 threshold applies to couples, and a $112,500 threshold for heads of households. (Senate will use 2019 tax returns, if available, or 2018 tax returns to assess income for determining how much direct financial aid individuals receive. Those who did not file tax returns can use a Form SSA-1099, Social Security Benefit Statement or Form RRB-1099)
- U $349 billion in loans to small businesses — and money spent on rent, payroll and utilities becomes grants that don’t need to be paid back.nemployment insurance to more workers, and lengthen the duration to 39 weeks, up from the normal 26 weeks. $600 extra a week would be provided for four months. No mention of how or when this will be added to the unemployment payments people receive.
96-0 in the United States Senate. Congratulations AMERICA!
— Donald J. Trump (@realDonaldTrump) March 26, 2020
Fox News stated, payments, according to the bill, will be made “as rapidly as possible” and no later than Dec. 31, 2020. They will be made via direct deposit to an account that the person has authorized for tax refunds or federal payments on or after Jan. 1, 2018. Notice will be sent to the person’s last known address within 15 days of payment informing them of the method and amount of payment. A phone number will also be provided so people can call the IRS in the event they did not receive it.
I find it infuriating that the bill bails out big companies and provides extensive finances to Democrats and their accounts all the while people who struggle weekly will continue to struggle and sometime before the end of the year, will get a little check that will not put a dent in their struggles.
At some point and time the government will have to address the facts, that being of people still have monthly bills that just because they cannot be shut off does not mean the bills do not stack up. Once the pandemic passes those bills will come down like a ton of bricks on people. We have to hope that some form of relief bills will be passed to allow the bills to be wiped and the companies can apply for federal emergency recovery funds. We The People should not be crushed because we were laid off during the pandemic.
Chris “Badger” Thomas is a Veteran who served our country as an Army Combat Medic.
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Dean James at Right Wing Tribune
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