UPDATE! UNEMPLOYMENT, SECOND STIMULUS CHECK AND STIMULUS PACKAGE 09/15/2020 (HOUSE RESPONDS!)

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UPDATE! UNEMPLOYMENT, SECOND STIMULUS CHECK AND STIMULUS PACKAGE 09/15/2020 (HOUSE RESPONDS!)

Today we had breaking news this morning! As a new bill was released by the problem solvers caucus and included in it is provisions, we have all been waiting to see, including potentially two rounds of stimulus checks. And we have already received a response from Nancy Pelosi and the Democrats from the House on this new proposal.

I for one was very excited about this new proposal and thought it looked like a very good bill. But it should come as no surprise that Nancy Pelosi did not support it and now Democrats in the House are backing her in rejecting this new proposal. This was released by the problem solvers caucus, if you haven’t heard of them, they are a group of 50 members of congress evenly split from both parties that work to achieve bipartisan agreement cooperation on key policy issues. Well they have been working together behind the scenes without political leaders Nancy Pelosi and Mitch McConnel and have released a new bill that has a lot of support and which very well could be our solution to a stimulus package and very much needed provisions.

trillion-dollar bill but it is scalable to as-needed for the pandemic, so if things improve it scales down by 200 billion to trillion but if the pandemic doesn’t improve and we need stimulus for longer it scales out to larger amount of provisions. Specifically, by 400 Billion in additional funding in 2021 to trillion.

We were waiting to see if house members would back this bill and be willing to work with it or if they would side with Nancy Pelosi who was standing firm requiring a trillion dollar stimulus package.

Although they are now saying they won’t support this bill, Nancy Pelosi said the House will not leave session until a stimulus package is passed! Hopefully then they will provide something that is a reasonable compromise like we saw in todays proposed bill.

If no agreement is made keep in mind President Donald Trump is still threatening congress that he may issue executive actions to provide stimulus checks and additional LWA enhanced unemployment benefits on his own. Whatever unfolds I will be sure to share.

Also, although this bill did not make progress it could also be a starting piece for another round of negotiations between Republicans and Democrats to pass another stimulus package.

Included in the bill was…
$1200 stimulus checks, $500 per child and retroactive for adult dependents (with an automatic booster of more checks in needed)
$120 billion to FPUC extension of $450 per week for 8 weeks applied retroactively from when the last FPUC expired. Followed by $600 per week for 5 weeks of wage replacement which could be extended as needed depending on the conditions of the pandemic in the country. Likely to start mid-October (with automatic booster to go through February 2021 if needed)
$500 Billion is state and local government funding – bail out for democratic states
$400 million in election aid
$240 billion PPP
$50 billion EIDL grants/loans
Fix the main street lending program
$1 billion for WIC plus-up
$10 billion for SNAP plus-up (food stamps)
Rental Assistance & Eviction ban to 2021
Student Loan forbearance until end of the year
$100 billion for testing and health care
$15 billion to childcare providers
$100 billion for k-12 schools whether virtual or in person
$30 billion to higher education
$15 billion for post office
$25 Billion for agriculture
Worker Liability protection

As updates come out, I will be sure to share.
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