Show me the (stimulus) MONEY!!!!!
August 12, 2020
- Negotiations, negotiations, negotiations... stalled because Dems want a large stimulus bill (~$3 trillion) which includes big money for state and local governments but the GOP wants a smaller more focused bill (~$1 trillion) to just cover folks until they can get back to work. Why couldn’t they meet in the middle!? 🤷
- Executive orders to chop through the log jam: The last Rona Relief ended on July 31st, so Trump swooped in and signed 4 executive orders over the weekend. Dems are skeptical because they see the orders as too narrow and because it puts pressure on budget-strapped states to chip in $100 of the $400 enhanced unemployment benefits. Plus, the executive order approach might be kicked out by judges if taken to court.
- What did the Executive Orders do for Regular Americans? Enhanced unemployment benefits of up to $400 per week to continue through the end of 2020 for those of us who are still out of work. Plus, extra financial assistance to renters and a moratorium on evictions.
- Time for a Smoke Tax Break? It looks like those dreaded payroll taxes will be deferred for Americans earning less than ~$100,000 a year. Extra cash for now will be nice, but it is just a deferral since we still need that tax money to pay for Social Security.
- AND Student Loans can also be put on the back burner until January as interest and payments are postponed through the end of 2020.
We’ll keep you updated on what happens with these executive orders that will (hopefully)🤞 keep everyone’s head above water.