In this video, Dr. Chhoda explores the current state of negotiations between both sides on the HEALS Act and Dr. Chhoda covers:
1 – Three important things to watch out for
2 – KEY TAKEAWAYS from a recent press conference outlining the HEALS Act
3 – Something to make you smile
1 – Three things to watch out for
EMPLOYEE RETENTION CREDIT
Both sides approve rather significant expansion of the “employee retention credit”. This is a tax credit for businesses that took a big decline in revenues but are bringing workers back. Tax credits are used by governments to promote certain behaviors – in this case – it’s about reopening and bringing jobs back.
INDEPENDENT CONTRACTORS
Normally, people get their unemployment through their states – and the $600 was added on top of that with CARES and independent contractors and gig workers were included. CARES also created a second program – the “Pandemic Unemployment Assistance” program (PUA) – for self-employed, contractors, gig workers. Democratic aides are concerned that the increased reporting requirements associated with the 70% wage replacement in the HEALS act COULD increase reporting requirements in a way likely to shut PUA recipients out of program in the future. Yes, you read that right.
RENTER AND HOUSING ASSISTANCE
Dems have called for more than $200 billion in renter & housing assistance, but the Republicans want to allocate much less.
2 – KEY TAKEAWAYS from a recent press conference outlining the HEALS Act
Senate Majority leader’s underlying rationale, Senate Finance Committee chair on stimulus, unemployment and tax credit for businesses.
3 – Something to make you smile
A FUN FACT about Senator Chuck Grassley and thanks to his cellphone for some comic relief (more details in the video).
Do you want direct, breaking news alerts from Ignition Time? Get your cell phone out and from your cell phone, send an SMS:
TEXT IGNITION TO 70000
or
TEXT TIME TO 70000
FOLLOW INSTRUCTIONS VIA TEXT, ACCEPT OUR DISCLAIMER & RECONFIRM YOUR EMAIL to get breaking news alerts that are fair and balanced. Opt out at any time.
Related Videos
Managing your Money Crash Course
Unemployment Benefits Crash Course
Reference
Reported on Fox Business
McConnell, GOP Senators hold presser on HEALS Act