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🤑 Making It Rain Again? 🤑

Mz iMac — Sat, 09 May 2020 05:19:21 GMT

New Bill Would Give Americans $2,000 Per Month Until Coronavirus Pandemic Is Over

The plan, offered by a trio of progressive senators, aims to provide struggling Americans with lasting economic security through the public health crisis.

By Igor Bob

A new bill seeks to dramatically increase financial relief for struggling American families amid the ongoing cornavirus pandemic by extending the government’s stimulus checks months after the crisis is over.

The Monthly Economic Crisis Support Act, introduced Friday by Sens. Kamala Harris (D-Calif.), Bernie Saunders (I-Vt.) and Ed Markey (D-Mass.), would provide a monthly $2,000 check to every person with an income below $120,000 throughout the public health crisis and for three months after it officially ends.

In late March, the Senate passed a $2 trillion package called the Coronavirus Aid, Relief, and Economic Security Act, but the trio of progressive senators believes it’s insufficient.

“The CARES Act gave Americans an important one-time payment, but it’s clear that wasn’t nearly enough to meet the needs of this historic crisis,” Harris said in a statement. “Bills will continue to come in every single month during the pandemic and so should help from the government.”

The plan stands a poor chance of passage in the Republican-controlled Senate, which has soured on spending. But with more than 30 million people unemployed over the last seven weeks and no end to the pandemic in sight, Democrats are aiming to up the pressure on congressional leaders as they begin discussions over another fiscal relief package that is expected sometime this month.

The CARES Act provided Americans making up to $99,000 with a maximum of $1,200, with families eligible to receive an additional $500 per child. The checks were limited to Americans with a Social Security number. The new bill offered by Senate Democrats would not impose such a limitation.

The plan would forbid debt collectors from seizing rebate payments. It would also ensure that homeless people and foster children receive payments.

“Providing recurring monthly payments is the most direct and efficient mechanism for delivering economic relief to those most vulnerable in this crisis, particularly low-income families, immigrant communities, and our gig and service workers,” Markey said in a statement.

The senators did not provide a cost estimate for the legislation, though given the expanded timeline and the increased amount per check, it would likely eclipse the cost of the first round of stimulus checks under the CARES Act (about $300 billion).

A couple of House Democrats introduced a similar measure last month that would provide monthly checks to Americans until unemployment falls to pre-coronavirus levels.

The House is expected to take the lead on writing the next coronavirus relief bill, with a draft to come as early as next week. On a call with her caucus on Thursday, House Speaker Nancy Pelosi (D-Calif.) and other lawmakers voiced support for including $2,000 in recurring monthly payments in the next package for Americans.

SOURCE: Huffpost

Re: 🤑 Making It Rain Again? 🤑

germanshepherdlove — Sat, 09 May 2020 05:31:05 GMT

Re: 🤑 Making It Rain Again? 🤑

RoughDraft — Sat, 09 May 2020 05:34:10 GMT

I'm going to bed. My coping skills just went to pot for the night. I'll read it again tomorrow.

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wismiss — Sat, 09 May 2020 05:46:50 GMT

I agree with you, Elmo. How can we leave such an enormous national debt for the future generations to have to deal with? I'm glad I'm as old as I am.

Re: 🤑 Making It Rain Again? 🤑

kitcat51 — Sat, 09 May 2020 06:55:25 GMT

I'd say pie in the sky & laughable BUT no one gives a ---- about the debt anymore, it's just spend spend, spend & pass the crushing debt on to future generations....they're going to despise us & they should.

Re: 🤑 Making It Rain Again? 🤑

Snowpuppy — Sat, 09 May 2020 06:57:36 GMT

We leaning toward that MMT.

Two problems with it.

Your rent, utilities, food, everything you buy will skyrocket because everyone will have extra cash. And every company you deal with will want it.

Like any other program, it won't end.

Re: 🤑 Making It Rain Again? 🤑

Desertdi — Sat, 09 May 2020 07:17:00 GMT

@Snowpuppy wrote:
We leaning toward that MMT.

Two problems with it.

Your rent, utilities, food, everything you buy will skyrocket because everyone will have extra cash. And every company you deal with will want it.

Like any other program, it won't end.

@Snowpuppy Not to mention increased sales, property, and state income taxes............

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Gorgf — Sat, 09 May 2020 13:53:08 GMT

People are still waiting for the first stimulus check of $1200. That hasn't been resolved. Thank God we arent in a major military war.

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Allegheny — Sat, 09 May 2020 14:30:37 GMT

Good Grief, you just don't give money away willie nillie to every person. My husband and I, both retired for twelve years, from our wonderful US Government never made a combined income of $120,000. We lived comfortably, but not extravagent and still do.

Yes, programs need to be established for those unemployed.

What cracks me up is there were people financially struggling prior to this mess and very little was cared about them.

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Kachina624 — Sat, 09 May 2020 16:44:42 GMT

This sounds like an invention of somebody's Fairy Godmother or Santa Claus. Not realistic.

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jonbon — Sat, 09 May 2020 20:35:16 GMT

Universal Basic Income. Lots of interest in it after Andrew Yang's presidential run, but the policy idea itself goes back to the 16th century. I think it has some merit. Here's an article about it from Business Insider:

Universal Basic Income

Re: 🤑 Making It Rain Again? 🤑

noodleann — Sat, 09 May 2020 20:42:58 GMT

The New Yorker also had an interesting article in its July 9/16, 2018 issue on the history of consideration of UBI in this country. It's called "Take the Money and Run" in the print edition and "Who Really Stands to Win from Universal Basic Income?" online.

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CelticCrafter — Sat, 09 May 2020 20:51:54 GMT

I don't know what the eligibility requirements would be but if I met them I DO NOT want it.

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Carmie — Sat, 09 May 2020 21:02:54 GMT

Some people have no intelligence. I wonder how they get their jobs and now they get to keep them. I hope they get fired when they are up again.

They need replaced ...in the worse way.

Since when is anyone making below $120,000 disadvantaged? Many families make well below that and live good lives with no financial help from anyone. That's a lot of income for some states.

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DiAnne — Sat, 09 May 2020 21:01:56 GMT

There was already a large deficit before this virus hit. We will probably be bankrupt before this is done.

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Porcelain — Sat, 09 May 2020 21:02:44 GMT

Trillions of dollars are floating around in the name of COVID-19 and I would certainly prefer that more of the everyday folks, including seniors and parents and genuine small businesses get a bigger piece of the pie instead of the larger corporations that just use the money to buy back stock. It's all money we paid in taxes and most of it is going completely to waste. Ridiculous amounts of corruption and cronyism going on with it right now. And much of it completely unmonitored and unaudited, even though it was supposed to be.

One idea would be if they put this money into traditional savings accounts for people, with some limitations on withdrawing it. Hardly anyone here in one of the richest countries on Earth has a sufficient savings account.

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Carmie — Sat, 09 May 2020 21:10:17 GMT

@Porcelain I'd rather see my taxes lowered, especially real estate and school taxes. many Seniors have lost their home because they can't afford the taxes once they retired or got sick and lost their income. This has been going on for years. Not much has been done to help them.

I don't want my money back. I just want the government to stop taking so much from the get-go.

The coronavirus isn't going to bankrupt the country. The idiots in charge of the tax money are going to. There is zero interest on borrowing money and they are out of control. Even with zero interest, the government must pay it back. They are borrowing from Peter to pay Paul.

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Porcelain — Sat, 09 May 2020 21:12:41 GMT

@Carmie wrote:
@Porcelain I'd rather see my taxes lowered, especially real estate and school taxes. many Seniors have lost their home because they can't afford the taxes once they retired or got sick and lost their income. This has been going on for years. Not much has been done to help them.

I don't want my money back. I just want the government to stop taking so much from the get-go.

The coronavirus isn't going to bankrupt the country. The idiots in charge of the tax money are going to. There is zero interest on borrowing money and they are out of control. Even with zero interest, the government must pay it back. They are borrowing from Peter to pay Paul.

We already had a tax cut.

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Spurt — Sat, 09 May 2020 21:15:39 GMT

@Kachina624 wrote:
This sounds like an invention of somebody's Fairy Godmother or Santa Claus. Not realistic.

@Kachina624

But has that ever stopped them before....why they were talking free college, and forgiving all current student loans, ....medicare for all etc etc....... SANTA HAS ARRIVED!!!

Re: 🤑 Making It Rain Again? 🤑

Melvin-QVC — Sat, 09 May 2020 21:22:10 GMT

This post has been removed by QVC - political