Americans: AMA about the stimulus package and associated legislation/regulation

[Aegon]

A large portion of my job is tracking and understanding the federal government's response to all this, which includes Congress but also the various government agencies. I receive early drafts and provisions before the news, because I'm very special and cool. 

AMA if you're curious. if I know it I'll tell you.

I'm pretty busy as all of this is just fucking constant, so it may take me a while to come back and revisit this thread.

[Gawdzilla Sama]

Since I know jack shit about it, broad strokes please.

[GenesisNemesis]

Pics or it didn't happen.

[Aroura]

I'm very interested

[jerry mcmasters]

What percentage of the package do you understand to be legitimately "reaction to the current Coronavirus situation to get the US back to normal" and what percentage do you understand to be, from each party, "let's add stuff that fits our agenda but can be passed off nominally as legit reaction to the current Coronavirus situation to get the US back to normal."

I realize that's a question loaded with political connotations and opinion, lol.

[Bucky Ball]

Is it true that the slush fund got changed so the Sec of Treasury can't give it to his friends, and is it true, none goes to the Trumps ?

[jerry mcmasters]

I hope Trump employees don't get screwed.

[Thumpalumpacus]

I hope Trump employees don't get screwed.

Again, you mean?

https://thehill.com/blogs/ballot-box/pre...of-workers

[Minimalist]

I hope Trump employees don't get screwed.

They got that when they went to work for the prick.

[jerry mcmasters]

I hope Trump employees don't get screwed.

They got that when they went to work for the prick.

Come on, that's ridiculous.

[mordant]

When the self employed apply for unemployment, as I assume my son in law will have to (runs a small appliance repair business), are they just taking your last 1040 filing and dividing net profit by 52 to get your weekly benefit? What if you started the business partway through the tax year, or revenue has been on a sharp upward trend in the current year? My guess is that is too quick and dirty to have much nuance and truly replace current / likely revenue during the crisis. It'll be fine if income patterns are steady, less so for seasonal businesses, and potentially way off the mark for recently started businesses or businesses with sharp upward trends in revenue.

[Tres Leches]

Will there be a 2nd stimulus package?

-Teresa

[Tres Leches]

I hope Trump employees don't get screwed.

I hope he doesn't screw them over, either. A self-proclaimed billionaire should not shift the burden of taking care of his employees to the US government.

-Teresa

[jerry mcmasters]

I hope Trump employees don't get screwed.

I hope he doesn't screw them over, either. A self-proclaimed billionaire should not shift the burden of taking care of his employees to the US government.

-Teresa

No, Teresa, fuck them.  The dumb asshole waitstaff who seven years ago was hired at a Trump restaurant in Las Vegas and is now head waiter should have known what she was getting into.

[Tres Leches]

I hope Trump employees don't get screwed.

I hope he doesn't screw them over, either. A self-proclaimed billionaire should not shift the burden of taking care of his employees to the US government.

-Teresa

No, Teresa, fuck them.  The dumb asshole waitstaff who seven years ago was hired at a Trump restaurant in Las Vegas and is now head waiter should have known what she was getting into.

Well, I know that's sarcasm there, jer.
Trump has made a career out of screwing over other people but I wouldn't wish economic ruin on any ordinary person who works full time to support their family.

-Teresa

[jerry mcmasters]

I hope he doesn't screw them over, either. A self-proclaimed billionaire should not shift the burden of taking care of his employees to the US government.

-Teresa

No, Teresa, fuck them.  The dumb asshole waitstaff who seven years ago was hired at a Trump restaurant in Las Vegas and is now head waiter should have known what she was getting into.

Well, I know that's sarcasm there, jer.
Trump has made a career out of screwing over other people but I wouldn't wish economic ruin on any ordinary person who works full time to support their family.

-Teresa

Is not.  

[Aegon]

Is it true that the slush fund got changed so the Sec of Treasury  can't give it to his friends, and is it true, none goes to the Trumps ?

Yes, it barred loans to businesses that were at least 20 percent owned by presidents or their children, spouses and in-laws. The updated language extended the ban to businesses in which several family members collectively have a 20 percent stake, even if each person's individual stake is below the 20 percent threshold.

Personally, I didn't see the big deal if the Trumps did get support. The bill was sending loans to the hotels. They own hotels. ¯\_(ツ)_/¯

[Aegon]

What percentage of the package do you understand to be legitimately "reaction to the current Coronavirus situation to get the US back to normal" and what percentage do you understand to be, from each party, "let's add stuff that fits our agenda but can be passed off nominally as legit reaction to the current Coronavirus situation to get the US back to normal."

I realize that's a question loaded with political connotations and opinion, lol.

The former, really. I don't think there's anything hyperpartisan in here. Even if you think that bailing out corporations is an ideological thing, both parties were cool with it overall. GOP had their original bill which had some partisan stuff in it, Pelosi introduced her own bill that included abortion rights and limits on CO2 emissions. The compromise had none of those.

I suppose you could say limits on what the Trump family business gets, and the increased oversight by inspector general on corporate loans / bailout, were Democrat ideas. But even then, not that crazy.

[Aegon]

Will there be a 2nd stimulus package?

-Teresa

They started working on "Phase IV" as soon as this one (CARES Act) was passed. It will most likely contain additional funding for federal agencies like CDC, HHS, DOL and it may include more direct payments to taxpayers like this one did. The House and Senate are in recess and back in their respective districts/states until the end of April, so I wouldn't expect anything to be passed until then. (Unless we plunge into anarchy in the meantime.)

[Aegon]

When the self employed apply for unemployment, as I assume my son in law will have to (runs a small appliance repair business), are they just taking your last 1040 filing and dividing net profit by 52 to get your weekly benefit? What if you started the business partway through the tax year, or revenue has been on a sharp upward trend in the current year? My guess is that is too quick and dirty to have much nuance and truly replace current / likely revenue during the crisis. It'll be fine if income patterns are steady, less so for seasonal businesses, and potentially way off the mark for recently started businesses or businesses with sharp upward trends in revenue.

A lot of the unemployment benefits will depend upon your state laws. All the bill mandates was that the unemployed would get an extra $600 per week for up to four months, on top of state unemployment benefits. I'm not sure how it will work exactly for your son.

[SYZ]

I hope Trump employees don't get screwed.

They got that when they went to work for the prick.

True.  Trump has been enabling and endorsing shonky corporate and financial deals since he
took over his father's real-estate business in 1971, and renamed it The Trump Organization.

A classic example of Trump's early use and abuse of his financiers was his 1988 acquisition of the
Plaza Hotel in Manhattan with a loan of $425 million from a consortium of banks. Only two years
later, the Plaza filed for bankruptcy protection.  

As of 2018, Trump and his businesses had been involved in more than 4,000 state and federal
legal actions, according to a running tally by USA Today, 17 April 2018.  During the 1980s, more
than 70 banks had lent Trump $4 billion, but in the aftermath of his corporate bankruptcies of
the early 1990s, most major banks declined to lend to him thereafter.


—Of course I could list another dozen of Trump's shady business deals and corporate failures, but
any/all of his employees would've known about these happenings over the past thirty years at the least.

[jerry mcmasters]

I hope Trump employees don't get screwed.

They got that when they went to work for the prick.

True.  Trump has been enabling and endorsing shonky corporate and financial deals since he
took over his father's real-estate business in 1971, and renamed it The Trump Organization.

A classic example of Trump's early use and abuse of his financiers was his 1988 acquisition of the
Plaza Hotel in Manhattan with a loan of $425 million from a consortium of banks. Only two years
later, the Plaza filed for bankruptcy protection.  

As of 2018, Trump and his businesses had been involved in more than 4,000 state and federal
legal actions, according to a running tally by USA Today, 17 April 2018.  During the 1980s, more
than 70 banks had lent Trump $4 billion, but in the aftermath of his corporate bankruptcies of
the early 1990s, most major banks declined to lend to him thereafter.


—Of course I could list another dozen of Trump's shady business deals and corporate failures, but
any/all of his employees would've known about these happenings over the past thirty years at the least.

I doubt the average guy trying to make a living and could get a bit more as a valet for a Trump property than he was making in another place would be greatly aware that Trump's early use and abuse of his financiers was his 1988 acquisition of the Plaza Hotel in Manhattan with a loan of $425 million from a consortium of banks and only two years later, the Plaza filed for bankruptcy protection and as of 2018, Trump and his businesses had been involved in more than 4,000 state and federallegal actions, according to a running tally by USA Today, 17 April 2018 and also During the 1980s, more than 70 banks had lent Trump $4 billion, but in the aftermath of his corporate bankruptcies of the early 1990s, most major banks declined to lend to him thereafter.

[Minimalist]

I hope Trump employees don't get screwed.

They got that when they went to work for the prick.

Come on, that's ridiculous.

You need to pay more attention.  Fuckface has a long history of being a deadbeat prick.

https://www.usatoday.com/story/news/poli.../85297274/

USA TODAY exclusive: Hundreds allege Donald Trump doesn’t pay his bills

[Aegon]

Will there be a 2nd stimulus package?

-Teresa

They started working on "Phase IV" as soon as this one (CARES Act) was passed. It will most likely contain additional funding for federal agencies like CDC, HHS, DOL and it may include more direct payments to taxpayers like this one did. The House and Senate are in recess and back in their respective districts/states until the end of April, so I wouldn't expect anything to be passed until then. (Unless we plunge into anarchy in the meantime.)

One of the biggest problems that needs a legislative solution: insurance premium increases. Health insurers are taking such a massive hit because of all this that we anticipate premium increases as high as 40%. Phase IV needs to ensure that doesn't happen.

I'm curious if support for Medicare for All will increase because of all this. I'm not sure if it will or not. 

[jerry mcmasters]

They got that when they went to work for the prick.

Come on, that's ridiculous.

You need to pay more attention.  Fuckface has a long history of being a deadbeat prick.

https://www.usatoday.com/story/news/poli.../85297274/

USA TODAY exclusive: Hundreds allege Donald Trump doesn’t pay his bills

Seems a little weird your hatred for Trump extending out to hatred for somebody working in one of his properties trying to make a living.  But whatever.