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BigRedBuster

Covid-19 Legislation

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I would like this thread to be only about what has been passed and what is being proposed.

 

Discuss.

 

So far, there have been some very helpful legislation we have seen come down about paying employees who are self quarantining.  I'll try to find an article on what has been passed.  

Here is a good article on what the House Democrats have proposed.  I'll try to find something on what the Senate Republican bill includes.

 

LINK

 

 

Quote

 

Pelosi is echoing a number of key points Senate Democrats are sticking to: If corporations are to receive federal money, Democrats want to make sure there’s oversight attached to it, and that relief is flowing to employees rather than corporate CEOs. And both Schumer and Pelosi have been adamant they want to expand federal money and resources to hospitals and health care workers on the front line of the coronavirus crisis.

But Pelosi’s bill goes further in a number of different directions and contains priorities Senate Democratic leadership isn’t negotiating on right now, including helping states expand vote-by-mail systems. Here are the main points of the House bill:

  • The House bill would require any corporation taking federal relief money to prioritize their workers’ wages and benefits over CEO pay, layoffs, or stock buybacks. 
  • The bill would give $500 billion in loans to small businesses. It would further expand unemployment insurance, creating a temporary Federal Pandemic Unemployment Compensation of $600 per week for workers impacted by the coronavirus and eligible for unemployment benefits. 
  • For direct payments, the bill would provide each individual $1,500 of government assistance, and up to $7,500 for a family of five. Retired and unemployed Americans would also receive the benefit.
  • It would provide more than $150 billion to hospitals and community health centers for coronavirus treatment and equipment like ventilators, masks, and other protective equipment for health care workers, and calls on President Donald Trump to immediately invoke the Defense Production Act. It also would require the Trump administration to endorse strong Occupational Safety and Health Administration (OSHA) regulations for health care workers.
  • The bill would eliminate cost-sharing for coronavirus treatment and vaccines for all patients, including those who are uninsured. The cost of coronavirus treatment can range from thousands of dollars to tens of thousands, according to a recent Time report. 
  • The bill would put nearly $60 billion into America’s schools and universities; $30 billion would be provided to states to help their school funding, and $10 billion would be directed toward public universities. It would also help student borrowers with debt payments.
  • Finally, the bill would provide $4 billion in Election Administration Grants to states to come up with contingency planning and preparation for their elections, which could expand vote-by-mail and no-excuse absentee voting.

 

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Republican Senate Bill

 

LINK

 

Quote

 

The bill earmarks $500 billion to help out businesses like airlines and car manufacturers, including corporations like Boeing, which economists argue is too big to fail. That amount has been a major point of contention among Democrats, who have called it a “slush fund” and argued that it gives Treasury Secretary Steven Mnuchin the ability to help industries without transparency.

 

The GOP proposal would also send direct checks to Americans who make less than a certain threshold, with $1,200 going to adults and $500 to children.

 

 

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2 minutes ago, BigRedBuster said:

Republican Senate Bill

 

LINK

 

 

 

The problems with the GOP bill, especially with the "slush fund" is:

 

1.  There is no oversight for who gets that money. It's at Mnuchin's discretion.

2.  The recipients are anonymous for six months. Which is a super odd and rather alarming stipulation. Why would we need that?

3.  There are no safeguards that corporations won't use that money for stock buybacks, which they've largely done with past stimulus money.

4.  It does nothing to address the fact that many of these giant companies received massive tax breaks from Trump last year - and they pocketed that money. Why do we need to bail out businesses which just got a huge tax windfall? This is the very definition of corporate welfare.

 

I would like to see a stipulation in their bill that if they retain board members or corporate officers who were around for the 2008 crash, and those people need another bailout, they must be released from the company with no golden parachute. Fool me once, shame on me. Fool me twice, you don't get another bailout.

 

The thousand-or-so dollars for every adult is nice, but I think it's a pipe dream if they believe this would only need to be a one-time deal. And it wouldn't be on par with recent practices from the GOP toward bailing out corporations.

 

 

 

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The Covid-19 legislation that is planning to be implimented.

 

Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave

 

 

 

Quote

 

Key Takeaways

  • Paid Sick Leave for Workers

    For COVID-19 related reasons, employees receive up to 80 hours of paid sick leave and expanded paid child care leave when employees' children's schools are closed or child care providers are unavailable.

  • Complete Coverage

    Employers receive 100% reimbursement for paid leave pursuant to the Act.

    • Health insurance costs are also included in the credit.
    • Employers face no payroll tax liability.
    • Self-employed individuals receive an equivalent credit.
  • Fast Funds

    Reimbursement will be quick and easy to obtain.

    • An immediate dollar-for-dollar tax offset against payroll taxes will be provided
    • Where a refund is owed, the IRS will send the refund as quickly as possible.
  • Small Business Protection

Employers with fewer than 50 employees are eligible for an exemption from the requirements to provide leave to care for a child whose school is closed, or child care is unavailable in cases where the viability of the business is threatened.

  • Easing Compliance

    • Requirements subject to 30-day non-enforcement period for good faith compliance efforts.

To take immediate advantage of the paid leave credits, businesses can retain and access funds that they would otherwise pay to the IRS in payroll taxes. If those amounts are not sufficient to cover the cost of paid leave, employers can seek an expedited advance from the IRS by submitting a streamlined claim form that will be released next week.

 

 

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40 minutes ago, knapplc said:

1.  There is no oversight for who gets that money. It's at Mnuchin's discretion.

2.  The recipients are anonymous for six months. Which is a super odd and rather alarming stipulation. Why would we need that?

3.  There are no safeguards that corporations won't use that money for stock buybacks, which they've largely done with past stimulus money.

These are my big concerns wt the GOP plan as well.   It seems to be a very SWAMP building measure. 

The San Fran Nan's plan has too many unrelated items that need to be removed - this isn't the time to squeeze in climate change stuff or other pet items you can't get passed during normal course of doing business in Congress.  However, I think the Dem plan does a better job reaching down to the person on the street and making sure he/she is taken care of.

 

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Just now, TGHusker said:

The San Fran Nan's plan has too many unrelated items that need to be removed - this isn't the time to squeeze in climate change stuff or other pet items you can't get passed during normal course of doing business in Congress.  However, I think the Dem plan does a better job reaching down to the person on the street and making sure he/she is taken care of.

 

Yes, exactly. Just give us a clean damned bill dealing with THIS CRISIS and stop with the pork-barrel politicking.

 

It's disgusting.

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But here's my question:  Trump says we're all going back to work soon.  Maintain social distancing, take care of the elderly, but get back out there and get busy ramping up the economy.  That's his basic thing right now.

 

 

So... why do we need a bailout if we're all going back outside and the economy's going to ramp back up?

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1 minute ago, knapplc said:

 

Yes, exactly. Just give us a clean damned bill dealing with THIS CRISIS and stop with the pork-barrel politicking.

 

It's disgusting.

Amen.

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So...here is what we have so far:

 

Republicans -

 

Want to help companies through loans.

Tend to key on large public corporations.

No restrictions on stock buybacks. (even though the President tried to act like he wants it in the bill)

Individual payments are a one and done program.

It's all done behind closed doors so we can't see what really is going on.

 

Democrats -

 

Added fluff they couldn't get passed otherwise. (cut that s#!t out)

Put restrictions on stock buybacks and executive pay.

Individual payments are over several payments.

Added help with healthcare costs associated with Covid-19.

It's done more openly and we know who gets the benefit.

 

Both-

 

Direct payments from the government to people.

 

What I don't get is, why don't they do it through company payroll systems like what is already being put in place in my third post in this thread?  The systems are already set up.  It makes sure individual benefits such as healthcare is sustained.  It allows companies to retain valuable workers.  Workers retain their relationship with their job.  If a person is unemployed (prior to the crisis) that benefit could be done through the unemployment system.

 

 

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This is interesting.  Thin skinned trump obviously cannot stand to be corrected or to have his unscientific statements/lies  exposed  -  so now Anthony Fauci is no longer showing up at the press briefings.

I wonder why.   Trump thinks he has to be in charge and at the center of everyone's attention. His weak personality cannot allow a expert in the subject to be at the center of attention.

 

https://www.nytimes.com/2020/03/23/us/politics/coronavirus-trump-fauci.html

https://www.newsmax.com/newsfront/anthony-fauci-daily-press-briefing-nih/2020/03/23/id/959632/

 


 

Quote

 

Dr. Anthony Fauci's absence from the White House coronavirus task force briefing is making news.

Fauci, director of the National Institute of Allergy and Infectious Diseases, was absent from the press briefing Monday for the second day in a row. His disagreements with President Donald Trump on the U.S.'s coronavirus response has made headlines, specifically comments he made to Science magazine over the weekend when he said there was a limit to what he could do when Trump made false statements.

"I can't jump in front of the microphone and push him down," Fauci said. "OK, he said it. Let's try and get it corrected for the next time."

Trump's patience is reportedly wearing thin with Fauci, according to a report in The New York Times published shortly after Monday's press briefing, and the president has become increasingly concerned with Fauci correcting his statements during the task force briefings.  

 

 

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2 minutes ago, BigRedBuster said:

So...here is what we have so far:

 

Republicans -

 

Want to help companies through loans.

Tend to key on large public corporations.

No restrictions on stock buybacks. (even though the President tried to act like he wants it in the bill)

Individual payments are a one and done program.

It's all done behind closed doors so we can't see what really is going on.

 

Democrats -

 

Added fluff they couldn't get passed otherwise. (cut that s#!t out)

Put restrictions on stock buybacks and executive pay.

Individual payments are over several payments.

Added help with healthcare costs associated with Covid-19.

It's done more openly and we know who gets the benefit.

 

Both-

 

Direct payments from the government to people.

 

What I don't get is, why don't they do it through company payroll systems like what is already being put in place in my third post in this thread?  The systems are already set up.  It makes sure individual benefits such as healthcare is sustained.  It allows companies to retain valuable workers.  Workers retain their relationship with their job.  If a person is unemployed (prior to the crisis) that benefit could be done through the unemployment system.

 

 

 

get rid of the fluff from Ds and put restrictions on CEOs and stock buybacks...and we have a winner

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Um... there's fluff from the Republicans too.  Are we ignoring this...?

 

They're giving a free pass to payday lenders to charge exorbitant fees with no oversight.

Weakening the Consumer Finance Protection Bureau (oversight of, among other things, banks) to the point of nonexistence.

Ending protections for special-ed students

 

None of these things belong in this bill. All are pet projects by people like Betsy DeVos and Rep. Jeb Hensarling of Texas.

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I am critical of the Dems including any unrelated measures, like climate change, in this bill.

I do think it needs to include voting procedures since experts have forecasted effects through November.

 

Giving Mnuchin free reign over $500B is a nonstarter. And why would it include a 6-month disclosure exemption?

F THAT NOISE.

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