[April 22nd update] The Republican controlled Senate has now passed a $484 billion coronavirus bill for small business and Coronavirus related hospitalization and testing. This is in line with the earlier update below, with the following changes;
- $310 billion to the Paycheck Protection Program (PPP) for small businesses.
- $120 billion to the SBA Aid and disaster assistance loans and grant programs
- $100 billion to hospitals and testing for Coronavirus-COVID purposes
It now goes to the House and President for signing into law. All this is expected to happen this week.
Treasury Secretary Mnuchin and Congressional Leaders are close to reaching an agreement on the fourth stimulus package of 2020. This could be rolled out as early as this week. The only issue is that it seems that this stimulus bill is only going to be focused on small businesses and the healthcare industry. The need to support small business to mitigate the financial fallout and our healthcare workers to fight the Coronavirus/COVID-19 outbreak is fine but it is disappointing to see that there is no additional funding or payments for groups that missed out on the earlier rounds of stimulus check payments. Here is what the new $400+ billion stimulus aid deal will likely contain based on recent reports:
- $100 billion in additional spending for hospitals and coronavirus related testing. Cannot argue with this, but hopefully there is some oversight and the money is not just going to the few big states getting all the media attention.
- Adding to $300 billion to the Paycheck Protection Program (PPP) for small businesses. This program was swamped by demand in the last three weeks and completely exhausted its $350 billion of funding as part of the CARES bill. However there has been a lot of criticism that millions of small business’ have been unable to get access to the PPP loans via traditional banks. Further is seems larger “small business” are actually getting more benefit from these programs. There is also a considerable fraud being reported with now defunct small business claiming these benefits.
- It also would add $60 billion to a separate emergency loan program for small businesses
What the new Stimulus Bill DOES not seem to include
- Additional individual economic impact payments (stimulus checks) or any plan to address the many issues like missing coverage for over 17 dependents which means they don’t get the $500 dependent stimulus
- No explicit federal provision to prevent existing stimulus payments being taken away by creditors if you are behind on debts. This was a gap in the earlier stimulus bill and while some states (like NY) have laws to prevent that from happening it is not comprehensive in other states and many are seeing lower stimulus checks as a result
- No expansion or extension unemployment benefits. This s another blow to millions of unemployed Americans still waiting for unemployment stimulus payments under the enhanced PUA programs now in place.
Do you think the new provisions are fair?
10 thoughts on “The Fourth Stimulus Bill Does NOT help Lower Income Individuals and Unemployed Who Are Left Out in Favor of Business”
I would like to know something, If they include forgiving student loan debt, Can I then apply and attend college for free as well?
giving all people equal shares of all these trillions would be fair. what they choose to do with it will help build thier lives. meanwhile, it goes again to those already having money and life. the rest of us stay down under and get nothing or very little if we do ever get it. I feel discriminated against for i worked years and now illness has me living in poverty. struggling for years now. im discriminated against for being poor. meanwhile, businesses at least some that have the power to get the free money will never know what it is to be hungry. Government discrimination and knowone cares. if we lower income had a chance to get a fresh start too. perhaps we would nt be poor. perhaps we could finally have a home again rather than being homeless, unsettled, pushed around, lack of health care ext. but that would loose jobs for those that control all the goveremnt programs welfare ext. for people wouldnt need to use them. i dont understand . I just want to live a normal live without suffering anymore.
The problem of course is trump.Anybody who says different is not worth listening to.The man is Incompetant!
Amen to that !!! Don’t forget about the people behind him that don’t stand up in fear of loosing their jobs. We don’t allow bullies in schools and the WH should be the same. WTF IDK what he thinks can happen with $1200 after being out of work for 6 weeks plus…that’s an appetizer at his country club. By the way , he has visited several times while this Covid-19 has been going on. # VOTE2020
Yes, you are right, this does nothing for individuals nor really small business. Ask yourself how Potbelly chains and others got 3o million in fuds before the others ahead of the line when they did not change the rule for affiliation for almost a week later? Here is what will happen, soon they will through you all back out to work (way before time) with the Covet-19 and more working class will die off. this is a win win as them as that is less people to support staying at home and they get to recoup a lot of the money back during that time from taxes.
The government take in about 4 trillion dollars a year in just employment tax each year alone. Don’t you find it weird that although there is no cure there is talk of reopen the economy already? How is that, what will be different in reopen it now than the week before closing it down? Nothing, it will still spread….. this is a mater of dollars here, each person is costing the government not only the amount its giving out, but also the amount YOUR NOT PAYING IN TAX, through working, shopping, gas etc…. It needs the fast food and other areas that involve one on one service to spread the Covid-19. Better off dead than continue to foot the bill.
The phrase USA is “built on the back of the working man” is true. USA is not designed to be idled, its a machine from the slave back breaking worker of today, to the jail houses. Its all a profit! Best thing the people can do is call for treason of the United States Government against its people. Just as you pay your home and car insurance, you pay a united TAX to the USA government for insurance of your safety and well being. And its failing you ALL!
No it is not fair at all!!!
what a bunch of self serving idiots! They are totally out of touch with reality, People are out here close to death ,barely surviving,. Those that were left out are literally screwed! While the government is so concerned with businesses and infrastructure , what about the people that has lost sooo much that you screwed out of the first stimulus package? We lost income because YOU IDIOTS ordered us to stay at home! Now we can only get MABEY half our income through unemployment? GET A FREAKING CLUE!!! Parents that PAYS child support and fell behind for one reason or another gets nothing??? Students that works their way through school and were claimed by their parents get NOTHING???? People that were claimed by someone else knowingly or unknowingly get NOTHING??? What a bunch of moronic idiots! I hate the government !!!
These people were elected by us for Us Not BY us for THEMSELVES! America needs to wake up and see the real government and their agenda! I hate these people with every fiber of my being.
While these people are on TV showing 24,00.00 freezers , REAL AMERICANS are sitting at home powerless and voiceless with little to no food , bills stackin up, that little stimulus check did virtually nothing for them and DONT FORGET ABOUT THE ONES YOU SCREWED and didnt give a stimulus check to at all!
BIG MIDDLE FINGER TO BOTH SIDES OF THE ISLE CAUSE THATS EXACTLY WHAT YOU HAVE DONE TO US!!!
Yes you are correct i agree with you 100%
Somehow if you can watch the new documentary on CNN called “Pandemic and The President” all the lies come to light as different professionals and Dr’s are interviewed on facts !! And don’t inject any disinfectant as Trump has recommended. Don’t they see he is off his rocker and plagued with mental health issues? Well , we have an Impeached President running the worst war in USA history. We want our country back !!!
More evidence that there’s a “Revolution Calling” until we all get out into the streets and demand all of these stupid decisions change, we will continue to be stupid sheep following what the heard dogs say. As it stands now this virus is killing just as many as the seasonal flu. So why was this all done? These decision makers need to be held accountable.
Absolutely not!!! Hope they get there crap together for some people it’s life or death Congress doesn’t seem to understand that DEMOCRACIA AND REPUBLICANS ALSO