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Old 03-25-2020, 12:10 PM   #305 (permalink)
Xist
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The Senate passed the $2 trillion stimulus bill!

Apparently they voted on it just before 0100.
Quote:
The full details have yet to be released. But over the last 24 hours, the elements of the proposal have come into sharper focus, with $250 billion set aside for direct payments to individuals and families, $350 billion in small business loans, $250 billion in unemployment insurance benefits and $500 billion in loans for distressed companies.
Quote:
The stimulus bill also has a provision that would block President Donald Trump and his family, as well as other top government officials and members of Congress, from getting loans or investments from Treasury programs in the stimulus, according to Minority Leader Chuck Schumer's office.
Quote:
Under the plan as it was being negotiated, individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400 -- and an additional $500 per each child. The payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.
So, Mom, my brother, and I each receive $1,200?
I hope that we won't need it!
Quote:
There was intense partisan debate over the $500 billion proposal to provide loans to distressed companies, with $50 billion in loans for passenger air carriers. Democrats contended there was not enough oversight on how the money would be doled out, but the Trump administration agreed to an oversight board and the creation of an inspector general position to review how the money is spent.
Quote:
Negotiators also discussed providing four months of unemployment benefits, extending to self-employed workers. Also, the bill would ensure the Small Business Administration could serve as a guarantor for loans of up to $10 billion for small businesses to ensure they can maintain their payrolls and pay off their debts.
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In addition, the bill would provide a major amount of funding for hard-hit hospitals -- $130 billion -- as well as $150 billion for state and local governments that are cash-strapped due to their response to combat coronavirus.
Quote:
Schumer also suggested that the trillion-dollar stimulus plan may not be enough to offset the economic damage given the uncertainty of the pandemic, and that negotiators might have to "come back in a bipartisan way and do more if we need."
Quote:
Once a deal is released, the next question will be how quickly it can be approved by both chambers -- a challenge made more daunting by the fact that Congress is now operating in a scenario where several of its members have tested positive for coronavirus while many more have self-quarantined after contact with infected individuals.
A Democratic leadership aide told CNN that the House still has emergency convening authority and could quickly come back into session Wednesday. But the aide said it's "more likely" the House vote would wait until Thursday since it's still unclear when the Senate will act on the legislation, which has yet to be released.
Pelosi suggested on Tuesday that she is hoping to avoid bringing the full House back to Washington to vote on the package, seeking to pass it through unanimous consent instead. But any individual member can block such a move, creating uncertainty over whether that will be feasible.
Another option may be for the House to approve the package by voice vote as opposed to holding a recorded roll call vote.
Quote:
After conferring with the various factions of the House GOP Conference, the source said that it is a "possible outcome" for the House to voice vote the package when the chamber eventually considers it.
White House, Senate reach historic $2 trillion stimulus deal amid growing coronavirus fears
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