PHOTO: Getty Images
Article by Bryan Howard
March 25, 2019
The Senate leaders and the White House struck a deal on the relief bill for the Coronavirus crisis. The deal is a historic $2 Trillion relief package to help those suffering to get through these hard times.
Senate Majority Leader Mitch McConnell tweeted, “At last, we have a deal. After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic. We’re going to pass this legislation later today.”
At last, we have a deal.
After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic.
We’re going to pass this legislation later today.
— Leader McConnell (@senatemajldr) March 25, 2020
Fox News reported, “Senate Minority Leader Chuck Schumer, D-N.Y., said the bill amounts to “unemployment compensation on steroids,” and that every American who is laid off will have their missed salary remunerated. That provision will enable companies to stay afloat and immediately bring back those employees when things are safe, Schumer said.”
The relief bill that was agreed on was practically the same bill that was initially agreed to before Nancy Pelosi torpedoed the bill with her radical Socialist grab. It now seems Democrats are trying to save face and get back to the original bill since new media (online Conservative pages) exposed them for their nasty trick.
The Washington Post outlined certain aspects of this new bill
The agreement capped five straight days of intensive negotiations that occasionally descended into partisan warfare as the nation’s economy reeled from the deadly pandemic, with schools and businesses closed, mass layoffs slamming the workforce, and tens of thousands falling ill.
The legislation, unprecedented in its size and scope, aims to flood the economy with capital by sending $1,200 checks to many Americans, creating a $367 billion loan program for small businesses, and setting up a $500 billion fund for industries, cities and states.
Other provisions include a massive boost to unemployment insurance, $150 billion for state and local stimulus funds and $130 billion for hospitals, among numerous other provisions.
The new agreed Senate bill does include $4 Trillion in liquidity from the Federal Reserve on top of the $2 Trillion from Congress.
Some of this money will be used to help bail out the small business’s struggling due to the Virus and it will help out industries like Airlines who have been crippled because no one will go on a plane at the moment.
Personally, I am not a fan of huge government spending, but in a rare moment our history we suffer a real crisis that does require mass government spending if they are going to continue to shut down the economy.
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