Economy Covid Bailout Plan Misses the Mark on Relief for...

Covid Bailout Plan Misses the Mark on Relief for Americans

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From The Federalist

After a long, arduous process of political agendas taking priority over helping Americans suffering under unending lockdowns, killing their ability to provide for themselves, Congress passed a COVID spending bill on Monday evening, after lawmakers came to a compromise on Sunday. The relief package includes many of the expected items, while also including many bizarre items unrelated to the pandemic and its associated economic issues.

If President Trump signs the bill, direct electronic payments — $600 for individuals, $1,200 for married couples, and $600 per dependent — will be directly sent to every citizen or permanent resident who makes less than $75,000 a year (or $150,000 for joint-filing married couples), with the payment amount phasing out for higher incomes. This proves a substantial change from the CARES ACT this summer, which gave $1,200 per individual and $500 per dependent.

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The bill funds state and federal unemployment benefits at $300 a week, extending the period in which workers can claim government money to stay unemployed to 50 weeks, or nearly an entire year. Further, money is allocated to support various industries and businesses harmed by the lockdowns, including but not limited to airports, cinemas, theaters, farms, and small businesses.

Read Full Article at The Federalist




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