In a new interview this morning (original link to the interview below), Former White House Chief of Staff Mick Mulvaney talks about what to expect from the GOP relief bill.
Meadows, Mnuchin push for narrow coronavirus relief bill – The Trump administration’s lead negotiators floated the alternate approach in media appearances Sunday.
The proposal will come as part of a broader $1 trillion stimulus bill aimed at dealing with the economic fallout caused by the illness. Republicans plan to release the legislation later on Monday and start negotiations with Democrats. The $600 weekly jobless benefit expires in a few days, and House Democrats have proposed extending it until January because the unemployment rate remains very high.
McConnell says the second set of $1,200 stimulus checks will follow the model of the first but have “more support” for adult dependents. It appears the GOP bill will provide $500 per dependent regardless of age, rather than capped at 17 under Child Tax Credit parameters outlined in Cares.
The pandemic is exacerbating inequities across America, especially in housing. This summer is one of the best times for home buyers and worst for many renters. Americans with money in the bank are buying bigger homes, while renters increasingly worry about eviction.
Kudlow said today that the next round of coronavirus relief will include $1,200 stimulus payments to Americans and said the Trump administration will lengthen the federal eviction moratorium.
“There’s a $1,200 check coming, that’s going to be part of the new package,” Kudlow said in an interview on CNN’s “State of the Union.”
There are THREE things that can be done with money, regardless of where it comes from (wages, stimulus checks and unemployment benefits).
1. Spend Money
2. Save Money
3. Invest Money
Unemployment – There will be some type of extension of the enhanced benefit, but likely not $600 a week. There will be a transition period during which there will be a flat amount of extra UI per week. After that, there will be a new policy that better aligns with an individual’s lost income(possibly by multiplying a person’s state benefit) but will cap out at 100 percent of income.
1. Summary of the TWO Unemployment Benefit Extension Plans Being Considered by the Republicans RIGHT NOW including the President’s Preferred Option
2. How Long it Will take to Implement – The FINANCIAL and STRUCTURAL Issue with State Unemployment Benefits
3. What if states can’t make the shift? What if the $200 bonus is not enough? Response from Mnuchin and Meadows
The “Jobs and Neighborhood investment Act” was JUST PROPOSED by by Senator Mark Warner from Virginia, Cory Booker from New Jersey and Kamala Harris from California, they hope to get it included in the upcoming stimulus relief package.
1. States Reinstating “Work Search Requirements”
2. What are “Work Search Requirements”
3. What You Should Do Now for CONTINUED Unemployment Benefits
A new article in the Washington Post states “McConnell says stimulus deal could take ‘a few weeks,’ putting millions with expiring jobless aid in limbo”
“Hopefully we can come together behind some package we can agree on in the next few weeks,” McConnell said at an event in Ashland, KY.
Cincinnati’s NBC affiliate WLWT5 reported that some pandemic unemployment payments suddenly paused during a ‘potential fraud investigation’, leading to mounting complaints regarding Ohio’s Pandemic Unemployment Assistance, or PUA program, and stalled payments.
