Per WAPO - Deal has been reached..

[57stratdawg]

$2T in total. Added oversight in the lending programs for both foreign and domestic companies. One time cash payment to $1,200 per adult, $500 per child. Added unemployment insurance for workers.

[TWEET]1242679924269424640[/TWEET]

 

[bruiser.sixpack]

Vote scheduled for today (Wednesday) so if there is going to be a vote, instead of unanimous consent, it goes back to the House where Nancy and the Nanettes can try to water it down. I don’t trust them until President Donald John Trump signs the Bill into Law.

 

[57stratdawg]

I have this bill at roughly 10% of our annual GDP. Crazy.

 

[CrazyEyeKilla]

But that’s the Washington Post.*

 

[Jeffreauxdawg]

I have this bill at roughly 10% of our annual GDP. Crazy.

Has there been any mention of how it gets paid back.. I am actually not worried about the corporate stuff, it's a loan and will get paid back with interest... Like last time.

How about the SBA stuff and all the money going to taxpayers? I saw mention before that it will be added back in to the 2021 income tax bill.

 

[Shamoan]

“Unemployment benefits on steroids”. If you get laid off, you get paid your salary by the Fed, businesses Get paid directly To retain employees. Great news.


Also, frick Democrats.

 

[jethreauxdawg]

That’s funny

Has there been any mention of how it gets paid back..

Paid back, good one**

 

[Pars]

Fiscal conservatives will only worry about the payback after President Biden is sworn in

 

[cowbell88]

It’s the government we’re talking about here, where nothing is as it seems. I fully expect this to count as income and we have to pay tax on it.

 

[MrKotter]

“Unemployment benefits on steroids”. If you get laid off, you get paid your salary by the Fed, businesses Get paid directly To retain employees. Great news.


Also, frick Democrats.

On paper it's a great deal. Good luck to the small business owner trying to collect. It won't be easy. A lot of the money promised individual households appears to have disappeared as well without reducing the total figure. Interested to see, if ever released, where the money is actually going. As usual with everything gov't involved there will be huge amounts of unnecessary spending. Hopefully neither side gave in to Pelosi's performing arts fund.

 

[johnson86-1]

It’s the government we’re talking about here, where nothing is as it seems. I fully expect this to count as income and we have to pay tax on it.

You could just give it a haircut to account for taxes, but then a single mom and the wife of an executive that is still employed pay the same "taxes" when they get their unemployment. No clue how it's going to be treated, but it seems reasonable to treat it as taxable income.

 

[paindonthurt_]

Wanna wager on this?
I’ll give 2 to 1 odds Biden won’t be president.

 

[BlueRidgeMtns]

On paper it's a great deal. Good luck to the small business owner trying to collect. It won't be easy. A lot of the money promised individual households appears to have disappeared as well without reducing the total figure. Interested to see, if ever released, where the money is actually going. As usual with everything gov't involved there will be huge amounts of unnecessary spending. Hopefully neither side gave in to Pelosi's performing arts fund.

If you're saying I have to pick between the arts and the economy... Lord, give me the arts.*******************

 

[Hump4Hoops]

Considering both the republicans and democrats first attempt was garbage

I hope this one is as reasonable as it seems at first glance.

 

[horshack.sixpack]

Amen!

 

[The Peeper]

I'd go almost as far to say he won't be the Democratic candidate. Have you seen all these videos of him walking around in a serious funk and just babbling crap that makes no sense? If he gets on a debate stage he is toast, he may not even be nominated if he doesn't get seriously better soon and start making some appearances and making some sense.

 

[BulldogBillyCrash]

Excuse my ignorance but I don’t understand bailing out cruise liners...most are headquartered in the US but their ships are based out of foreign countries to not have to pay US taxes and circumvent employment regulations. So please enlighten me on why we are about to give them millions of dollars

 

[Drebin]

On paper it's a great deal. Good luck to the small business owner trying to collect. It won't be easy. A lot of the money promised individual households appears to have disappeared as well without reducing the total figure. Interested to see, if ever released, where the money is actually going. As usual with everything gov't involved there will be huge amounts of unnecessary spending. Hopefully neither side gave in to Pelosi's performing arts fund.

I don't know that it's a great deal. I think it's just necessary for the times. I worry about the guy who lost his job and is in despair but doesn't qualify for relief because he made 100K in 2018, though, but I guess you have to cut it off somewhere.

 

[horshack.sixpack]

I think you meant to respond to the OP, but I don't understand a lot of what is in the bill, but it is the compromise that those knuckleheads in DC managed to agree to so it means that they both feel they can present it in a way that is helping the people while keeping their most important pork in place. I mean a $2T cash grab. You know they were salivating so hard they couldn't hardly get out of their own way to get their pockets lined.

 

[57stratdawg]

He's almost certainly going to be the nominee. Bernie is basically mathematically eliminated at this point.

And lets be honest, 2016 showed how little the debates matter these days.

 

[Drebin]

He's almost certainly going to be the nominee. Bernie is basically mathematically eliminated at this point.

And lets be honest, 2016 showed how little the debates matter these days.

He will almost certainly be the nominee if the normal delegate process is followed. But these are not normal times. I would not be surprised at all to see an effort launched to nominate someone else. But Bernie would have to drop out first, or there would be a full on civil war in the party. That's why he isn't dropping out.

And let's be honest. Joe Biden would end up being the worst candidate ever nominated for president by either party. The guy doesn't even know what city he's in half the time. Democrats know this as well as republicans and if they're serious about winning in 2020, they will do something about it.

 

[Shamoan]

muh, slush fund!

 

[57stratdawg]

I think Biden is the betting favorite right now.

 

[horshack.sixpack]

Que the private accounting firms lining up to be the ones who help distribute the funds for a fee. That happens with all disaster relief, so I'm sure it will happen here. I've always wondered if the relief packages had provisions in them for paying CPA firms to oversee distribution or if that just came out of some other government pot.

 

[Drebin]

I think Biden is the betting favorite right now.

The Nationals were the betting favorites to beat the Mets on opening day before it all got canceled. It's a long way to the convention and there's a lot of maneuvering to be done. I'm seeing "draft Cuomo" initiatives. I'm seeing "Biden withdrawing" initiatives. Again, if this were a normal process and he were a strong candidate, I would agree that he was a shoo-in for the nomination.

Bernie's really mucking it up right now, though, so as long as Bernie stays in the race, I think Biden will be the guy.

 

[johnson86-1]

The cash stimulus to people seems ill advised to me. Especially if they are doing it based on 2018 taxes like has been suggested. We had some one time issues in 2018 that would probably result in us receiving at least some of the direct payments. Conversely, there are probably people that had high incomes in 2018 that are unemployed now and won't qualify for any of it.

Seems like it would have been much better to focus it on shoring up unemployment benefits and also making it available for people who have reduced incomes, not just unemployment or furloughs.

ETA: Apparently, it will be based on 2019 returns unless those returns have not been filed. So I guess people who haven't filed will maybe have the option of waiting until July to see if they get stimulus checks based on 2018 income, or conversely hurry up and file if they had something like capital gains thath would make them ineligible based on 2018 but eligible under their 2019 income.

 

[Oak23]

I think Biden is the betting favorite right now.

I think Biden would have to be the one but the wildcard will be his VP pick. This maybe a time when people will vote for him based more on his VP choice if anything due to his age. The man would be 81 if he went 4 years. I have some doubt on him going 4. I could see him picking HC, Michelle or even Obama Himself as I was reading somewhere that indicated a ‘loophole’ whereby a previous sitting Prez could be a VP. It would prolly have to go to the Supreme Court but it could possibly get a look. I just read an article on this out of curiosity. Otherwise, from a strategic standpoint, my guess is that he would just pick a young non -white female politician. We’ll see.

 

[Shamoan]

He's almost certainly going to be the nominee. Bernie is basically mathematically eliminated at this point.

And lets be honest, 2016 showed how little the debates matter these days.

 

[Shamoan]

i think something we can all agree on is MOST politicians are as crooked as a bag of snakes.

 

[Jeffreauxdawg]

Just pointing out... If we had a balanced budget law, since 2000. We could have had congress make 3 special provisions since 2000 and thrown $2 trillion at the war on terror. $4 trillion on the financial crisis and $3 trillion on this one.... And we would still have half as much national debt as we do today.

I know that there's an argument that it would have slowed the economy, but over the long run it would grow nearly as well as it has since then.

We can't keep doing this... A healthy economy will have 60-150% of it's gdp in debt. We were at 108% last week. If we add 2 trillion to debt we are and have a 10% decline in GDP, which may be conservative for the year... We are over 130% debt to GDP.

We have to quit adding to the debt when times are good... Otherwise we won't be able to help when times are ******.

 

[NWADawg]

So 3 months from now, when all of the small businesses have died and CV panic has gone away, we will get a check.

 

[JungRebel]

Apparently there is an issue between Graham, et. al. and Bernie holding things up in regards to unemployment benefits for laid off workers and oversight for corporate relief. I'm not sure this thing is going to get done today. Hope it does.

 

[goodknight]

Be honest, Who will qualify

Reading income limit $75000 single, $150000 filing jointly. Decreases by $5 for every $100 over those numbers. Supposedly that will send $’s to 90% of US adults.

Be honest now how many of you knew you’re in the upper 10% of income earners in the US?

 

[hdogg]

Am I the only one who would rather the money only go to those affected? My pay won't change so I don't need anything. I guess I'll just spend it all on business that aren't open?

 

[RocketDawg]

It's my understand that it'll be that way. I am retired, so assuming my pension doesnt change, I'll be more than fine financially.