Trump’s Executive Action- Not Legal as only Congress can do it as it controls federal spending.
- It Does Not Include Stimulus Checks ($1200)
- Offers $400 for unemployed but 25% or $100 of that has to come from states that can’t fund it given high (and going to be higher levels of unemployment) and there are currently 30 million people on unemployment aid. This aid would last through December 6 or when funding runs out. However, $44 billion would cover less than five weeks of payments for 30 million unemployed Americans unless the number of people on unemployment falls dramatically.
- Has a payroll tax deferral for those earning under $104,000 a year-meaning these taxes will be due at a later date. Payroll taxes fund Social Security and Medicare (and says he will permanently delete payroll taxes if elected again).
- The moratorium on evictions expired on July 24 and that was only for those with a federally owned mortgage. Implied he was suspending evictions- there are 110 million renters- BUT his executive order does not ban evictions but asks Health and Human Services Secretary Alex Azar to “consider” whether an eviction ban is needed.
- Has a short term relief for student borrowers until the end of the year allowing delayed payments with principal payments starting again on January 1.
- Funding for this $44 billion –coming from FEMA- disaster relief fund used for hurricanes, tornadoes and massive fires.
It does not include funding for schools, local and state governments and $1200 stimulus checks and funding for the postal service.
Difference between what Republicans and Democrats want in stimulus package.
https://www.nytimes.com/interactive/2020/07/30/upshot/coronavirus-stimulus-bill.html
