In order to vote, we need to know the issues. Sometimes the issues are a matter of life and death. With 170,000 dead from Covid 19 and the economy reeling, three proposals have emerged to address the problem. Meanwhile people are running out of money, unemployment claims are surging, and evictions are beginning to mount.
Question! These proposals, like the Bush-Obama bailout in ’08 cost trillions of dollars. For years it was claimed that such expenditures would cause runaway inflation and bankrupt the federal government. That does not seem to be the case. SO, does this mean that the funds we have needed to address climate change, poverty, education and health care ARE available after all?
THE PROPOSALS
Democrats’ House Proposal, Republican’s Senate Proposal, and President’s Executive Orders
SUPPLEMENTAL UNEMPLOYMENT BENEFITS
- The Democrats propose a continuation of the $600 per week payment
- The Republicans propose a $200 payment
- Trump's executive order proposes $400 - cash strapped states must shoulder 25% of that cost
AID FOR STATE AND LOCAL GOVERNMENTS
- The Democrats propose $985 billion which can be used flexibly
- Republicans provided no general relief for states
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Trump's executive orders offer nothing on this item
AID FOR SCHOOLS
- The Democrats propose $100 billion for schools
- The Republicans propose $105 billion but reserve 2/3 for schools that physically reopen in fall
- Trump's executive orders offer nothing on this item
SAFETY AT WORK
- The democrats' proposal orders OSHA to establish Covid 19 safety standards for the workplace
- The Republicans protect employers by limiting workers' right to sue them for negligence
- Trump's executive orders offer nothing on this item
CASH RELIEF PAYMENTS
- The Democrats offer the $1200 payment again. Thye include dependents at $500. Students and non-documented immigrants who pay taxes would be included
- Republicans offer the same, but exclude immigrants
- Trump's proposal offers a payroll tax deferment which would increase paychecks. Deferred taxes would have to be repaid in the next tax cycle. Importantly, taxes are the way we fund social security, so this is a direct attack on that program.
FEEDINGTHE POOR AND DISADVANTAGED
- The Democrats offer $10 billion in SNAP payments and a 15% raise in the cap per family
- the Republicans offer aid to farmers
- Trump's executive orders are silent on this subject
ADDITIONAL ITEMS
- The Democrats' bill has funds for highways, elections, pension bailouts, USPS
- The Republicans' bill has additional funds for the military and a new building for the FBI
COST
- The Democrats' bill cost $3.4 trillion
- The Republicans' bill cost $1 trillion
- Trump's executive orders: the cost has not yet been calculated
ADDITION PRESIDENTIAL EXECUTIVE ORDER ITEMS
- Extemded suspension of student loan payments until January
FOR FURTHER READING:
Comparing the Senate and House Covid Stimulus Bills | Ken Berry, J.D. | CPA Practice Advisor
Trump’s latest executive actions have 3 big problems | Andrew Rudalevige | The Washington Post