Thursday, 09 April, 2020

What’s in the coronavirus stimulus bill: Checks to Americans and more

New Senate Stimulus Bill Would Ban Companies Owned by Trump or His Children From Receiving Any Bailout Money Schumer makes sure Trump's business can't benefit from rescue package
Cecil Davis | 26 March, 2020, 18:33

"Pelosi is also open to allowing the bill to pass by a voice vote, which would allow the presiding officer to rule in favor of the side that has the most voice votes".

"Let us tell them tonight that help is on the way, that they are not truly alone, that this country, that this Senate, that this government is here for them in a time of dire need", top Senate Democrat Chuck Schumer said moments before the vote.

The pandemic response package would be the largest economic rescue legislation in the country's history. Investors are now nervously awaiting the release later Thursday of United States jobless claims data, which is expected to show a massive rise.

The agreement is an expansion of a Republican legislative proposal issued last week, dubbed the CARES Act - the Coronavirus Aid, Relief, and Economic Security Act - to provide relief to virtually every rung of the US economic ladder. We fought to send much-needed resources to fight coronavirus and to put people and workers first. It will apply to traditional workers for small and large businesses as well as those who are self-employed and workers in the gig economy. New York's governor and its mayor, both Democrats, are happy, Trump said. "Our health care system is not prepared to care for the sick".

The measure also includes $150 billion for state and local authorities and another $130 billion to strengthen the nation's healthcare system, which in hotspots of the epidemic, such as New York City, is beginning to be overwhelmed.

The package will bring an unprecedented $2 trillion in aid to small businesses, workers, and more. Two House members were diagnosed last week with COVID-19, and others are in quarantine.

The sprawling measure is the third coronavirus response bill produced by Congress and by far the largest.

"It's been a long hard road with a remarkable number of twists and turns, but for the sake of millions of Americans, it will be worth it", said Senate Minority Leader Chuck Schumer (D-NY), who negotiated past midnight for days with a White House team. They requested to cap bolstered unemployment benefits at 100 percent of workers' salaries, but a related amendment failed to pass.

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California Gov. Gavin Newsom, a Democrat, reportedly said on Wednesday that he didn't believe the end of the crisis was in sight. "We can not outlaw the virus".

"This bill pays you more not to work than if you were working", Senate Chair Lindsey Graham (R-South Carolina) said. It is emergency relief. "That's what this is".

The White House had originally proposed a 1-trillion-dollar stimulus package, but several rounds of negotiations among lawmakers ballooned the cost of the package to roughly 2 trillion dollars.

That deal was nearly upended at the last minute by Republican senators who said the unemployment benefits - an additional $600 per week for up to four months - would let workers stay home during the pandemic and collect $24 an hour for not working.

House Republicans are strongly behind the measure, according to a senior GOP leadership congressional source.

The deal comes after days of intense negotiations and false starts among McConnell, Schumer and Mnuchin.

House Speaker Nancy Pelosi (D., Calif.) told reporters Wednesday that she is "optimistic" about the legislation, and said no decision had been made about when the House would try to take up the legislation if it clears the Senate as expected. "House Democrats will now review the final provisions and legislative text of the agreement to determine a course of action". In 2008, during the Great Recession, checks weren't mailed until three months after the law was signed approving the checks.

"The sheer size and scope of the stimulus package would have been unthinkable only a couple of weeks ago".