Putting cash in consumers hands helps keep the businesses running. |
Housing and consumer finance:
-All monetary contributions by renters in "assisted" or "public" housing are suspended -Nationwide moratorium on evictions under 30 days after emergency declaration is revoked -Suspension of consumer debt payments - no capitalizing interest, adding fees, send to collections, negative credit reports until 120 days after end of crisis -Nationwide ban on cutting off utilities for nonpayment (includes telecom and broadband) until 120 days after end of crisis -Creditors will be reimbursed by the Fed for any losses related to nonpayment during crisis -$100B for rental assistance in the form of grants (note - for reference US annual rental income totals around $500B) -$15.5B for emergency homeless assistance grants -$35B in mortgage assistance grants to be administered by the states -Mortgage forbearance: foreclosures are prohibited until 180 days after end of emergency; mortgage backed securities holders will not get paid and should expect to not receive funds; owner requesting forbearance shall not receiving rents from tenants during the forbearance; total length of forbearance no less than 180 days and renewable for another 180 days; 60 days of nonpayment will go into automatic forbearance without request by borrower |
Wonder if $10k in student loan forgiveness ($500 billion cost) can be considered Coronavirus related? It's in Nancy's bill |
Edit - in bold
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No it doesn't, because if everyone is under stay in place orders you can't spend money that easily. Right now, businesses need cash infusions to stay solvent or else all of society collapses and no one has jobs to go back to. |
Pelosi is pure evil. She is purposely adding things to the bill so that it doesn't get passed. Then, she can blame the Republicans. She does not care that people are dying, losing jobs, or struggling to feed their families. |
What about McConnell? Can you even hear yourself? |
You could say the same for Mitch McConnell. It’s a negotiation. |
It puts money right back into the economy. Why not? |
If greedy assholes want to be bailed out, we need protections to prevent them from being greedy assholes with the federal assistance. They can still be greedy assholes with their own money. |
Both can be true at the same time. But there is no reason not to put conditions on money that particularly big business, might be taking. If airlines want money, then the US can dictate that it not lay off anyone and that the money not be used for share buybacks or executive salary. Why is that so hard? |
Small business relief:
-The Fed to establish and manage a Small Business credit facility to provide loans to any small business affected. "Small business" defined as "(A) a small business concern (as defined 7 under section 3 of the Small Business Act (15 8 U.S.C. 632); (B) a family farm; (C) an independent contractor; and (D) any other class of businesses to which the Board of Governors determines loans would promote full employment and price stability." Note - in my view, it looks like the Fed has full flexibility to design and set the amount of loans available, Congress is delegating. -US Treasury to give 0% loan to small businesses equal to its January 2020 one month revenue; loan will be forgiven if head count declines within 1 year (ie, business does not recover); loans funding up to $50B total -Suspension of small business loan payments - no capitalizing interest, adding fees, send to collections, negative credit reports, triggering higher interest rate until 120 days after end of crisis |
I mean, keeping teens from being intimate could help slow the spread of the coronavirus... /s |
ALL PARTIES NEED TO QUIT WITH THE JUNK GODDAMNIT. Stop playing politics with this. Clean bills only that are directly related to pandemic relief only. Congress needs to be nuked from orbit if they don't do something quick. |