Update: It will be tied to income. The centerpiece of the Senate Republican proposal — crafted with support from the White House — is a direct payment to qualified Americans of up to $1,200. Married couples could get $2,400. Taxpayers who earn more than $75,000 annually will begin to see that payment reduced by $5 for every $100 they earn over the $75,000 threshold, with those who make more than $99,000 getting nothing. Families with children would get $500 per child, Politico reported.
Graham is opposed. Graham, and like some other Republicans, wants to beef up the unemployment insurance system instead, as well as boosting loans for small businesses.
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“I personally think if we’re going help people we ought to direct the cash payments maybe as a supplement to unemployment, not to the people that are still working everyday,” said Senate Appropriations Committee Chairman Richard Shelby (R-Ala.). “Just a blanket cash check to everyone in America who is making $75,000… I don’t know the logic of that. I could see tying it to unemployment, maybe boosting it for people who are going be laid off for a while.”
Oddly, Graham also wants to pass out permanent residency — EB-5 — to Red Chinese and others in this country.
Watch Tucker discuss it:
Tucker Carlson is America’s voice.
From his demand that Sen. Burr resign over insider trading to calling out Sen. Graham for pushing an immigration scam, Tucker’s fearlessness tonight to take on the elites regardless of party was brilliant.
God Bless himpic.twitter.com/6ZltRaZYak
— Bryan Dean Wright (@BryanDeanWright) March 20, 2020
Original Story
McConnell’s coronavirus stimulus plan would provide payments of $1,200 per person, $2,400 for a couple, but it will be tied to income.
Senate Majority Leader Mitch McConnell on Thursday introduced legislation to provide as much as $1,200 per person and $2,400 per couple in the U.S. amid the coronavirus outbreak.
The draft legislation, obtained by Fox News, would provide minimum payments of $600, and aid would be phased down at income thresholds of $75,000 for individuals and $150,000 per couple. Additionally, there would be $500 payments for each child.
The rebate amount is slated to be reduced by $5 for each $100 a taxpayer’s income exceeds the legislation’s threshold. The amount is therefore reduced to zero for single taxpayers with incomes exceeding $99,000 and $198,000 for joint filers. The IRS will determine income based on taxpayers’ 2018 tax returns.
There are business-related provisions as well, including a delay of employer payroll taxes, a delay of estimated tax payments for corporations, and modifications for net operating losses.
Hopefully, they have a plan for cutting the debt down the road. We are at $23.5 trillion now with a trillion-dollar deficit before the trillion-dollar stimulus.
READ MCCONNELL’S STIMULUS PROPOSAL
McConnell coronavirus stimu… by Fox News on Scribd
Correction: We had to correct this article after publication. The title was misleading.
This is a joke. Its being done to calm the masses. The average income is 56000.00 a year So we are going to those who earn 75000 and down but people making 35000 get less and people under 25000 get nothing. They lower income people are hurt the most .Most of them that work don’t get work from home or payed to stay home or have saving. This is completely wrong . Here we go again protect the well off. Understand if this go’s on for more than 2 or three weeks you are going to Panic in the street . That no one will be able to stop
Shelby is right. This is more than stupid. Will illegals also be getting a check? Will retired people be getting a check? By the time the bureaucratic wheels turn it will be March 2021. I am retired and since I did some careful planning to get where I am, I don’t need a $1000 fresh off the government printing press.
“based on taxpayers’ 2018 tax returns”………..a lot people don’t even make enough to even file a return, what about them Mitch MaGoo ???????
Stop the quibbling about this package and more to come. A few trillion spent to avoid a prolonged recession or Trump’s defeat by a socialist is a fraction of the tens of trillions otherwise lost. Paying It back? No problem, we can seize all ChiCom assets in the USA. That should be worth a few trillion.
The local grocer will be happy. All these new government powers. I’m sure that they won’t be abused.
We’ll just have to sacrifice some more freedoms so that the state can keep us safe.
Will save me be the last phrase uttered from people who still believe in the god that failed known as government?