5 Fast Facts for Wisconsin’s Paychecks
February 10, 2021
Stimulus Bill Episode 3: The Unexpected Journey
Government negotiations are basically like daytime TV... something always happens but nothing really changes ...until now!
The new relief bill has awakened from it's coma in Congress... but will it remember you, or will it have amnesia when it comes to people who make regular-sized paychecks?
- Here's the situation: President Biden put a ring on stimulus payments as part of his campaign. The Democrats and the Republicans both approve, but there’s still disagreement about who'll get stimulus payments.
- An earlier Republican backed bill (that also had some Democrat support) planned to cut off cash for individuals earning more than $50,000 a year and couples earning more than $100,000. So, in that old version of the bill only about 78% of families would qualify for a relief payment.
- Progressive Democrats raised concerns claiming that by lowering the income requirements working class Americans would get less than what Trump had offered.
- The latest version of the bill offers $1,400 per person… but only individuals earning less than $100,000 and couples earning less than $200,000. So... 95% of American households would be covered.
- Experts predict the Stimulus Bill passes in March and won’t need Republican votes: Congressional Democrats can pass the bill with a simple majority in the Senate (51 to 50 with VP Harris casting the tie-breaking vote.) This is due to the fact that the stimulus is being pushed through as a budget issue. So, this time it falls under the rules of budgetary “reconciliation” and can get through on 51 votes alone.
This week’s 5 Fast Facts are sponsored by Freespoke.com! See the biggest stories of the day from the politically left, center, and right perspectives, side-by-side at Freespoke. It's a cut-to-the-chase, no-nonsense, news website!