White House, Senate reach historic $2 trillion stimulus deal amid growing coronavirus fears

[wishstar]

Source: CNN

"Ladies and gentleman, we are done," White House legislative affairs director Eric Ueland said right before 1 a.m. after leaving Senate Majority Leader Mitch McConnell's office following negotiations that have gone around the clock since last Friday. "We have a deal."

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.
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.

The package, if it passes Congress, would be the most significant legislative action taken to address the rapidly intensifying coronavirus crisis, which is overwhelming hospitals and grinding much of the economy to a halt.
Schumer called it "the largest rescue package in American history," in remarks on the Senate floor in the early hours of Wednesday morning. "This is not a moment of celebration -- but of necessity," he said.


Read more: https://www.cnn.com/2020/03/25/politics/stimulus-senate-action-coronavirus/index.html

[msongs]

1. trump will take all the credit on this nt

[Brother Buzz]

2. Of course he will....

But from the preliminary details, it looks like a huge victory for the Democrats....and the country.

[Bengus81]

56. Credit for another give away to Corporations and squat for those who truly need help

Let him brag his ass off. This POS package won't stimulate jack shit.

[Cryptoad]

3. And there is already talk that,,,,,,,,,

it aint going to be enough to keep us afloat!!!!!! Seems that many of the GOP tin foil hat crowd may well have before this is all over , an understanding and appreciation for what FDR did!

[duforsure]

4. It isn't even close to being enough going directly to the American people

trump and the gop are now driving us into a depression if the early numbers are correct , they''ll regret not giving people enough direct cash , and they failed the American people when they needed help the most . This is going to backfire very badly on all who voted this through. Especially for trump and the gop. I think there will be a lot of unhappy people in this country and they will take it out on those that did nothing to prevent this from being so bad, and causing them financial ruins, and little help.

[Bengus81]

21. I agree,it will help but not by much

[Baclava]

5. $1200 Direct Deposit for those who filed 2018/19 tax returns, better than physically mailing a check

[Keth]

41. I like the direct deposit idea..

but what if you changed banks since 2018 and 2019? Will my check, if I get one, go to my old account that has been closed? Is there a way to update your bank information? Just curious how this will work if you changed banks. I'm sure I'm not the only one.

[Bengus81]

42. It's the bank that was on your tax return if you got a refund

Better make sure it's been updated or it will be refused and "returned".

[jayfish]

52. How Is It Supposed To Work For Those...

who didn't file for 2018 and don't have a PIN to file electronically for 2019 or owe for 2019? ...asking for a friend.

[Baclava]

59. That gets trickier, if u got yur return via DirectDeposit from 2018/19 u should get money in 3 wks

According to latest reports, thats 70 million people or 50% of Americans filing

If they dont have your latest info on file it could be delayed many weeks, according to MSNBC

[gab13by13]

6. I'm a doubting Thomas

that Trump's businesses won't get any of the bailout. Raw Story is reporting that his hotels and golf courses are losing money, even his golf course in Scotland is about to be shut down. If it is true that Trump and his spawn can't profit from this then Trump should be enraged today. I just don't see Mnuchin stiffing Trump. Someone tell me what I'm missing?

[duforsure]

8. You're not missing anything

And I'm with you , because trump will have Mnuchin funnel money somehow to trumps pocket from this stimulus payout.

[Dios Mio]

10. Yep

I may be paranoid but that doesn’t mean they won’t figure out a way to screw us.

[still_one]

27. It is more than trump. No one in Congress will be allowed also

[LastLiberal in PalmSprings]

58. You can't spell Trump without "crook."

I'll bet he's already got his lawyers looking for loopholes in the bill that will divert a huge chunk of the money into his pocket.

[duforsure]

7. Expecting this paltry amount to help people

While foods and goods pricing jump up if you can get them has increased dramatically, so this is not nearly enough, and it won't work like they think it will at all. trump and the gop are stiffing the American people when they need help the most in a national emergency , and in a serious major health and financial crisis.

[Bengus81]

22. All these Corporations like COX will look at peeps em..."windfall" and RAISE rates

Happening in 5...4...3...

[James48]

9. STOP STOP STOP

Folks - read the story again

That’s an announcement of a deal
BETWEEN THE GOP SENATE and THE WHITE HOUSE.

It is NOT a deal that includes the HOUSE at all.

It’s NOT a “deal” at all if they can’t get 60 votes in the Senate, AND can pass with a majority in the House.

It could be simply “fake news”, intended to prop up Wall Street for a day.

Don’t count your chickens before they hatch- let’s wait to see if the Senate can pass it, AND IF THE HOUSE WILL AGREE.

[abqtommy]

11. Thanks for keeping it real.

[Hoyt]

12. Schumer -- who has been in constant contact with Pelosi -- says it's a deal. Pelosi is talking

about the possibility of unanimous consent -- although one member of House -- could force everyone returning to Congress.

It sounds like more than fake news to me.

[Ponietz]

13. A reasonable take but Schumer is backing it

[link:https://www.washingtonpost.com/us-policy/2020/03/24/trump-coronavirus-congress-economic-stimulus/|

The $500 billion corporate slushiebucks were never in question, it seems.

[Bengus81]

23. Sorry but it's a deal........

I wish it was FAKE. That amount for individuals and married couples in lower incomes should have been at least DOUBLE or the same amount paid now and again in six months.

Now reading that amount drops to a paltry $800 for those who need it the MOST,while married couples with no children who make a combined $3,800.00 per week will still qualify to get something....SERIOUSLY??

Some have said there will be two payments,I hope that's true but haven't read that anywhere.

[IthinkThereforeIAM]

36. Yep, my sentiments...

... too. Anyone following the put share options? (betting that certain stocks are going to dive)?

[Sugar Smack]

40. This we know:

Shrump's throwing a giant party at one of his hotels a couple of weeks from now. Promises kept!

https://www.washingtonian.com/2020/03/24/president-trumps-dc-hotel-promises-a-huge-celebration-soon/

[WhiteTara]

49. They should all pass the virus from one to another

while they celebrate and have a good time toasting their new found money. I hope they hug and kiss and dance slow dances all night long.

[gab13by13]

14. I want 2 questions answered,

1. Is there a provision in the bill that creates an independent Inspector General? If there isn't then that means that Mnuchin/Trump have control over 1/2 trillion dollars.
2. Is there a provision in the bill that states that the administration doesn't have to disclose who got the money for 6 months?

If Trump has control of the money and doesn't have to show who got the money for 6 months, then he has 6 months to cook the books.

[caber09]

15. Answers..

Yes it appears there is an IG and Congressional oversight...and no companies related to Trump, Pence, Congressional Leaders, Dept Heads etc are eligible to receive this money...It appears Dems got just about all they wanted...Pelosi wants unanimous consent, the Rs think they will object to that...thats speaks volumes

- $500 billion corporate relief program will include inspector general, oversight board
- The Treasury secretary will also be required to testify about transactions to provide stability to the credit markets, the senior official said
- the White House made a significant concession to Democrats’ demands, agreeing to allow enhanced scrutiny over the massive loan program that is a centerpiece of the Senate’s $2 trillion coronavirus economic package.
- Schumer secured a provision in the agreement that will prohibit businesses controlled by the President, Vice President, Members of Congress, and heads of Executive Departments from receiving loans or investments from Treasury programs
- A companion appropriations package ballooned as well, growing from a $46 billion White House proposal to more than $300 billion

[turbinetree]

16. I am going to be real greedy.......just like a CEO .........I want $1,000,000 out of the 250 billion

not some $1200.00 dollars (twice) that isn't shit.............................

My mortgage payment stay's the same, my student debt stays the same, my rent payment stays the same, my car and credit card payment stays the same, and my health care stays the same and my drug cost stay the same................

[caber09]

17. Bernie??

Where was Bernie during all this wouldn't it be the exact type of bill for him to take a stand on and throw in his ideas to show what he can get done?

[gab13by13]

19. Democrats don't need to be divided right now.

Bernie is doing the right thing by staying out of this and letting Joe have the stage.

[Marrah_Goodman]

18. I wonder if there is anything for those of us on SS and SSDI who dont file taxes anymore

[gab13by13]

20. Yes there is but I don't know the details.

I heard talk last night that you may have to file a return even if it's not required, but that was what I heard last night.

[Bengus81]

24. Now reading only 2/3 or $800.00 for lower wage people

Total fucking BS while millionaires still keep their Trump tax cuts and Corporations are still getting their 14% Trump tax cut. $800 bucks not paid till into May won't do SHIT for the poor,SS people and low income/part time people.

IGNORED once again...................

[Hoyt]

25. On the bright side, tax cuts don't help much if they are losing money in a

recession, maybe depression.

Odds are those tax cuts will have to be repealed to pay for this.

As someone on SS, at least for now, my SS checks are still coming in. I’m more worried about those suddenly unemployed and at the lowest end of SS.

[Bengus81]

29. Maybe some individuals but AMAZON is making BILLIONS over CV

They could have that 14% cut back to 2-3% and STILL make BILLIONS and give those savings to those TRULY in need. Repealed for Corporations---ROFLOL,not unless Joe Biden would do it if elected President and Dems get the Senate.

It will NEVER happen under Trump and an Republican Senate. Those tax cuts could be for decades to Corporations.

[Marrah_Goodman]

50. Not until may?

[Bengus81]

54. Yep...probably have to hand out BILLIONS to Corporations first

[Marrah_Goodman]

57. Yup- I bet you are right

[tavernier]

26. Where's the $200 raise to those receiving social security ?

[Turin_C3PO]

28. I don't think that part

made it into the final bill. I’ll try and find out for sure.

[Bengus81]

30. Don't see it and KNEW it would never happen....

But BILLIONS for Corporations that don't need it after they ALREADY received a 14% tax cut--NO PROBLEM!!!

[Hoyt]

37. They are already talking about next stimulus package. Plus this is a 4 month

package, then the $800 check for SS beneficiaries works out to $200 a month.

[tavernier]

43. Thanks

Maybe they’re waiting to see how many seniors will no longer need benefits before they start doing that. No, I wish I was being sarcastic, but in fact this just might be what some up there are thinking.

[Hoyt]

47. LOL. The thing that saves us is that seniors tend to vote for Republicans.

Don’t know why, but they do

[tavernier]

51. Not the ones I hang around with.

Of course my friends are all intelligent!

[Bengus81]

45. Never happen if it's only tied to those who need it......

Nope..way to much spent already,inflationary,no can do,blah...blah...blah....

[lark]

31. I fear this is a really big step in the rw take-over.

Drumpf still gets to pick winners and losers and the losers will be the American people, and any and all Democrats, including Democratic states which he's trying to kill and any green companies. He also picks the oversight committee - fuck! Yeah Senate gets approval, but so fucking what, Russian Repugs stick together to fuck us up and Dems can't stop them at this time. There's rules that each contract has to be published, but drumpf follows no rules and I guarantee you this will not happen. He's supposed to get zero money from this but you know damn well he will personally profit a ton. It's a pure robbery to set up the theft of Social Security, Medicare & Medicaid which will come immediately after he steals the election. Public education, all labor laws including overtime and 40 hour work week, and all environmental laws will be cut and if hundreds of thousands of Americans die due to lifting Coronavirus restrictions too soon. He thinks he will only be kiling people in CA, NY & IL, and approves of that - but what happens when FL, TX or AZ cases explode, which they will? Just shows he doesn't even care about his "own" people in the red states, he just wants the bribes he's been offered, so he will absolutely kill us so churches can have their Easter Sunday.

[Maxheader]

32. $500 billion in loans for distressed companies...

I can see a need...just like Obama's tarp payments...and were there
any words about the corps repaying ??

[Hugin]

35. Most of President Obama's TARP Stimulus ended up in the round-file. Thanks to the Republicans.

If I remember correctly, it was exactly opposite of what is being lovingly handed to the wanna-be dick-tator/psycopath-in-chief poseur President who's currently installed in office.

[Hoyt]

38. Most of money is guaranteed loans, I believe.

[gab13by13]

44. I thought TARP was done under Bush?

[Maxheader]

53. Tarp was done by obama....

because of bush....

[Yavin4]

33. I see a block President Donald Trump and his family. Does that include Kushner?

I don't want to read how Kushner's net worth went up $500 billion.

[empedocles]

34. Seems like the extensive blocks, woud block ivankner

Certainly blocks trump. Given trump's whole being is about grabbing, getting stealing - that block trump provision must feel like a hard kick in the nuts to trump.

[Sugar Smack]

39. Yes. And trump's going to throw a giant Coronavirus celebration

in one of his hotels in a couple of weeks.

https://www.washingtonian.com/2020/03/24/president-trumps-dc-hotel-promises-a-huge-celebration-soon/

[UncleNoel]

46. Do people on social security have payments made through their social security account?

Irrespective of tax returns or Tax ID?

[old guy]

48. I'm going to reserve judgment.

If there is a devil here it will be in the details.

[Bengus81]

55. Some people might be "missed" as stated on CNN

Really....ya think?? NOT ONE adult should be missed.