OK, this happened on Friday but I've not seen anyone post it here at CCC yet. Also, I'm deliberately putting it in here as this is the forum with most traffic. Trump Signs $2T COVID-19 Relief Bill Into Law - Law360 US people: Good thing or bad thing? Other folks: Good thing or bad thing?
Our family owns a restaurant and the incentives associated with the bill should keep it going without additional cash from me. Overall I cannot imagine that the US economy will come out of 2020 in very good shape. Too many sectors are getting hammered and no end yet in sight.
Agreed. It'll probably survive... in the way that someone survives a knife-fight. Meaning, it'll take a while for all the damage to scar over.
Along with the Democrats ridiculous pork in the bill, I cant say that I agree with large corporations getting a half trillion dollars. If they are ran so poorly that they cant survive for a couple of months, why do their CEO's make millions? That money should go to small and medium size business who employ more people, which includes self employed people who employ others. $25 billion for airlines?? Why? File bankruptcy like other American business has to do and keep flying. Those CEO's will figure out a way to get some of that in their pocket like they did with the stock buybacks when they got those huge tax breaks. The "rules" put on those "loans" can be rescinded by hedge fund hatchet man Mnuchin at the Treasury Dept. These $1200 and $2400 checks will be appreciated, but are a drop in the bucket compared to what big business is getting.
I somewhat agree with the above. The biggest benefit, in my opinion, is helping individuals who were furloughed, fired etc... Any loan should have stipulations of repayment. Thus, when the economy improves and businesses become profitable, they have a payment plan, just like us ordinary folk. Keeping any business out of bankruptcy will help the economy recover. But, 2 trillion is 1/3 of the federal budget. I hope that this is near the end of federal assistance. If President Trump would have objected to all of the pork and vetoed the bill, it would be goodnight for him. Stay safe all.
Where did you see that, Len? We, of course, don't get one. Once again punished by the guvmint for making decent life decisions, LOL!
Many newspapers have published “FAQ’s about the checks. All of note the payments are not taxable. Here is one link: F.A.Q. on Stimulus Checks, Unemployment and the Coronavirus Plan
This a good thread but let’s not make this political. Both parties have pork in the stimulus package. This was hammered out in Congress in a bipartisan way. Just buy signing it, in no way does it give credit to anyone. It isn’t just about the checks we will receive. The unemployment benefits are also a way for people to try to keep their heads above water. What is unfair about these checks is that $1200 pp will help but for a person living in New York or San Francisco it is not near enough. A family living in, let’s say, Nebraska will be able to stretch that money much further. We have been warned for a long time that we should have 3-6 months of savings in case of emergencies. We have an emergency. I know it is hard to save for some people. We must at sometime take responsibility for or own lives. To many people live paycheck to paycheck. I understand why they do. The first years of our careers, we couldn’t scrape two nickels together. This is all about where you are in your careers and families. We are retired now and don’t need the government sending us more money. Thankfully! The stimulus package is to broad. I am not smart enough to know of a better way to do this. If needed we will support our kids and grandkids. That is what family is about. Please be safe everyone. We will get through this together.
