In a historic agreement on a bill that makes up half of the annual federal budget, the Senate passed the COVD-19 Stimulus Package last night. Now, the House is due to vote on the package on Friday.
Who won when it came to the details, Liberals or Conservatives?
Well, there were some concesssions on both sides. Notably, the Kennedy Center of Fine Arts was left in the bill and will be receiving $25 million dollars. Trump stated that it was necessary to give the Democrats some concessions to get the bill passed, even though it rubs some conservatives the wrong way.
Liberals did not get some of these things in the Stimulus Package; requirements on emissions adjustments by airlines, even though they are receiving 25 million to help with workers salaries. Also 17 Billion would go towards “distressed” governemtn contractors like Boeing. They also did not get diversity-related requests made by Pelosi.
Pelosi also made stimulus package requests also about early voting, ballot harvesting, and government review about using “minority banks.”
None of these were included in the Senate passed bill.
How Will It Help Small Businesses?
Small businesses will receive a large amount in loans that will become grants in the stimulus package and not have to be paid back if used on utilities, payroll or other business related expenses during this time. The total amount alotted to this was $349 billion.
Those receiving unemployment will also get a boost ontop of the total amount to help subsidize other costs as well – likely around $500.
How will it help the individual American / family?
Also in the bill is the paychecks for all Americans, which will work based on the chart below.
To summarize, anyone earning under 100k per year will get some amount in a check. The amount will be reduced by $5 on every hundred dollar per year earning over $75k. The estimates will be based on 2019 tax returns (or 2018 if you haven’t filed 2019 yet.)
What do you think of the bill? Is it appropriate? Is it necessary? Let me know in the comments below.
Progress has been made with the Coronavirus vaccine, also.
The vaccine appears to have a “stable genome,” which just means that it does not mutate at the same rate many other viruses do. This likely means the vaccine will work for longer than some others.
Thanks for stopping by. Let me know your thoughts in the comments below.
Matthew – Stricly News