Update, 12/27: President Trump has now signed this bill into law.
Update, 12/22: President Trump is threatening to veto this bill unless the stimulus is raised to $2,000 per person, among several other changes he is requesting.
If he vetoes it, Congress can still override the veto with 2/3rds voting to pass the bill as is. If members keep their original vote, they would be able to override the veto. What do you think will happen?
— Donald J. Trump (@realDonaldTrump) December 23, 2020
Update, 12/21: This has been passed by the House 359-53 and by the Senate 92-6. It will now be sent to President Trump to be signed into law!
The House and Senate are now voting on $900 billion in Coronavirus stimulus benefits. It is expected to pass tonight and President Trump should sign it into law.
You can read through the 5,593 pages of it here, but here are some of the things that it will do:
- Stimulus checks of $600 per adult and per child.
- This will set the government back about $166 billion. The checks will be phased out for single filers making more than $75,000 and married filers making more than $150,000 AGI. That amount is phased out at a rate of $5 per $100 of income until a single filer makes $87,000 or a married couple without children makes $174,000, at which point it is completely phased out. The phaseout with children will be $12,000 higher per child, so a couple with 2 kids will phase out completely at $198,000. A couple with 4 kids will phase out completely at $222,000.
- Don’t forget that if your income drops on your 2020 tax return, or if you had a child in 2020, you can still claim additional funds from the March stimulus and for this stimulus on your 2020 tax return!
- Joint returns, where one filer is not a US citizen or resident, will now be eligible for stimulus checks. This is retroactive to the March stimulus as well. Only legal residents will get stimulus funds.
- Unemployment benefits of $300 per week for up to 11 weeks, on top of state benefits will be funded with $120 billion. These will not only cover regular employees, but also gig economy and other self-employed workers who lose work due to coronavirus. This will run through 3/14/21. Also extended through March 14 for up to 50 weeks are Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation programs for assistance after state benefits run out. Employers will have to inform states of employees refusing an employment offer.
- A federal moratorium on evictions will be extended from 12/31/20 to 1/31/21. $25 billion will be funded for people to use to pay past due and future rent or utilities payments.
- PPP forgivable loans have been funded with an additional $284 billion. 501(c)6 nonprofits are now eligible for PPP loans. To qualify, a company must make a good faith certification that they need the loan based on current economic conditions. They can get a loan of 2.5 times the monthly payroll, capped at $20,833 in funding per employee and can spend it over 24 weeks with at least 60% going towards payroll. If they didn’t take the full PPP previously, they can claim it now. Allowable expenses now include supplier costs, PPE, and property damage due to looting. If they are taking a 2nd PPP loan they must demonstrate a loss of 25% of greater in any quarter of 2020 as compared to the same quarter in 2019.
- If you received forgiveness on a PPP loan, you can deduct the expenses paid with that loan.
- You no longer have to deduct EIDL grants from PPP forgiveness.
- Loans under $150,000 can be forgiven using a 1 page form.
- Accommodation and food establishments can take a forgivable loan of 3.5 times monthly payroll.
- Employee Retention Tax Credit can now be taken by employers in addition to PPP loans, whereas previously you had to choose one or the other. The refundable payroll tax credit is increased from a cap of $5,000 to $14,000 by changing the calculation from 50% of wages paid up to $10,000 to 70% of wages paid up to $10,000 for any quarter.
- EIDL grants for an emergency grant for small businesses of up to $10,000 in low-income neighborhoods.
- Earned Income Tax Credits and Child Tax Credits will allow you to use your choice of 2019 or 2020 earned income for qualification on your 2020 tax return, though you will need to include unemployment income when calculating your 2020 AGI.
- Business meals will be 100% deductible in 2021 and 2022.
- Vaccines will be funded with $69 billion to make them available for free to those who need it.
- Food stamps will be funded with $13 billion and will give 15% more benefits from 1/1/21-6/30/21.
- K-12 schools will receive $54 billion in funding, higher education will get $23 billion, and child care providers will get $10 billion. Child care assistance will be given to essential workers.
- Airlines will get $15 billion for 4 months of “payroll assistance.” That comes out to $375,000 of assistance per furloughed job!
- Amtrak, airports, buses, state highways, and other transportation also will receive bailouts, as will live event venues like theaters and museums.
- $7 billion to increase broadband access.
- The post office gets a $10 billion grant.
- State and local governments can spend their 2020 CARES funding throughout 2021.
- $1.3 billion in federal student loan forgiveness for historically Black colleges.
Which of these items will you benefit from?
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228 Comments On "[Update: President Trump Signs Bill Into Law] Here Are The Coronavirus Stimulus Benefits That Congress Is Voting On Today!"
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Why can’t the airlines go thru the PPP like every other industry that was effected by COVID ? Hotel groups small business etc equal treatment for all !!
Much better lobbyists. From both owners AND labor. Its a clear winner for both sides to support.
Hey Dan,
Thanks for reading those 5,593 pages for us! 🙂
Speed reader
What about ability to take money out of retirement funds without penalty? It was part of CARES act, but expires on 12/31/20. Was it extended?
Just to be clear, @Chaim, I agree with you.
Non-profits were included in the first PPP
no
My nonprofit clients received PPP Loans
We had a baby in oct 2020 , can we claim the March $1200 for her ?
Also will we get this stimulus for her automatically this time or do we need to request it on the tax returns ?
You would get $500 from the March stimulus and $600 from this one.
You’ll have to request it on your return.
Thanks!
1. Why only $500?
2. How do you request?
Thank you!
1. Because that was the per-child amount in the first bill.
2. Notify your accountant (it will be a tax credit).
I tried turbo tax and it gives you an adjustment on amount not received in March Stimulus payment.
if my child is not a us citizen will i get also retroactive for march ?
Do they have a valid US Social Security number?
no
What’s the link to apply for it?
Please give us the direct link so we can apply for it before the illegals go ahead & get the website crashing!
Thanks in advance for all your help & savings!
I’m Davening to Hashem Yisbarech to repay you & your wife, children, Sh’Yichyu and Tzeétzaéi Tzeétzaéicha!
Any idea when the checks will start to be distributed?
As soon as next week!
Thanks!
When will stimulus checks be sent?
Airlines will get $15 billion for 4 months of “payroll assistance.” That comes out to $375,000 of assistance per furloughed job!
What?!
Outrageous. Why should we bail out these greedy thieves? They treat us like trash. They cram us like sardines in the middle seat. They nickel & dime us for luggage. They no longer give us meals on flights from NY to Miami. They make us sit with a mask covering our nose 24/7 gasping for air. Etc etc
It is beyond absurd. The taxpayer gets stuck paying 7 figures (annualized) for each saved job. Never mind that the airlines don’t need those jobs as fewer people are flying and that there are other stimulus benefits for those furloughed.
Flights between New York City and Miami are less than three hours. Am I unusual in that I can get by without a full meal for three hours and that I find a mask (obviously covering my nose; if it’s not over my nose, then what’s the point?) a minor inconvenience for three hours? I agree that $15 billion is outrageously high, but your specific complaints are pretty shvach.
Here are my complaints:
https://www.dansdeals.com/more/dans-commentary/bail-airlines-hotels-boeing-ask-return/
I agree with some of your complaints and disagree with others, but none of them strike me as outlandish. Complaining about no meals on a sub-3 hour flight is absurd. Complaining about having to wear masks in an enclosed space during a global pandemic is beyond absurd.
My 3 hour flight had all seats filled including middle ones and when drinks were handed out masks were taken off. It isn’t very logical and very much feels like a power grab.
On another note though I don’t have an issue wearing a mask but my asthmatic son does and THERE ARE NO MEDICAL EXEMPTIONS. I don’t want to be the next viral video. I told him he must as Orthodox obvious Jews we would get thrown off if he didn’t.
Just for my own understanding…does the mask exacerbate his asthma? Or is it something else?
Breathe in your own Co2 for hours on end for a 99.8% survival rate virus.
Really scary pandemic we have on our hands.
Agree
It’s insane. This Bill and more like it will probably cause runaway inflation soon
“If you received forgiveness on a PPP loan, you can deduct the expenses paid with that loan”
Deduct it for what purpose?
As a business expense. Before this bill the IRS said that you could not deduct expenses paid for with PPP funds.
Oh….. so kind of a double dip here ?
Correct, it makes the loan completely tax free.
Yup! It’s a crazy world we live in.
Not to mention airlines have already terminated dozens of airports from their service schedules. Would love to see them forced to offer service back to these smaller cities.
Is it taxable income or gross income? Which line on the 1040 do they go by?
AGI
I believe its Adjusted gross income. Line 8b on 2019 return
Why are we giving out money again to people that haven’t been adversely impacted by the pandemic? I understand struggging businesses and the unemployed or those with pay cuts, but why everyone? Seems ridiculous.
So that we can spend it at those franchises that were effected.
Stimulate .
I agree. Bh my family hasn’t been affected too much financially (but may see a lagged effect on our professions) so have used previous stimulus money to support local businesses that have been affected. We have been eating waaaaay more takeout
So why not give the money straight to them ?
This whole stimulus has nothing to do with logic.
Good morning.
Because they bribe the congressppl. (Duh)
So last time around american citizens who live and work abroad got checks. Which I think was ridiculous. What’s going to be this time?
Why are we less american than you?? Don’t we file taxes every year?
The question is, are these checks made to help the citizens of the country, or to help the people effected by the lockdowns etc. that the government makes.
The same I
What is the maximum age for “children”? Is it any child that are claimed as a dependent or even those that are still living in my basement?
I hope that older children have an income of sorts or can file their own return they’d get more money that way $1200 for round 1 and $600 round 2. Otherwise if you claim them it’s $500 plus $600. Anyhow it goes according to if you can claim them on your return and that depends on if they qualify or not based on certain criteria.
My 19 year old daughter filed on her own for 2019 and never got the $1200. I wonder if she’ll get the $600 now
She probably didn’t request it on time – al it is is a tax refund, so she’ll tell whoever is filing taxes for her this year, and she’ll get it as a refund…
Does it matter if we claim her as a dependent in 2020? ie will she get the credit based on her 2019 filing when she files for 2020?
That’s a question for your accountant. I filed 2019 with a dependent and didn’t get the $500 officially I should be getting it with my 2020 return.
So if my AGI for 2019 was below the EIC limit but in 2020 my AGI was above the limit, I can still claim an EIC for this year?
No.
So then what do you mean by that paragraph for what does the choice of 2019 2020 apply ?
For EIC
So can Dovid claim it or not ?
What am I missing ?
same q. anybody have any info on this? tried searching online but got nowhere. I’m trying to decide whether i shoud deduct from my ira befor the end of the year
The beauty of an IRA is that you specifically don’t have to make a decision by the end of the year-the IRS gives you until April to make your determination
Are you sure thats even for deductions? I thought thats only for contributions
Do you know the requirements for eidl. Is it just more funds or each business can get more funding?
can you explain better the earned income credit part? for 2020 does all unemployment even the extra 600 per week count?
For the part about the EIDL no longer being deducted from the PPP forgiveness…is that for past loans or only for future loans? the sba already approved my loan forgiveness minus my EIDL amt. Will that be reassessed or is it too late for that? Thanks
Why loan forgiveness only black colleges I. Have two daughters with families very hard to pay back now can’t work hav children home
Hopefully that will be addressed in the next administration. It’s on the list and can be done with an executive order.
If the great Donald trump didn’t do it sleepy Joe is not gonna get it done.
The future of the Dem party.
Not a rabblerouser but it’s the truth
None of this makes sense.. it’s all just political pandering
Once you know that, there are no more questions
This isn’t student loan forgiveness. The $1.3b forgives loans HBCU’s had for other expenses taken on by the schools.
Why isn’t there anything whatsoever being demanded of the airlines as a condition for receiving these funds?
Because they bribe the ppl in power.
Great post Dan! So helpful! Lots of terms I think are absolutely absurd; however looks like we will be eating some fantastic business meals in the next 2 years!
Is the RMD arequirement for IRAs waived in this stimulus Bill, like the last?
my freind had a child in may 2020 he told me he got 2400 but couldn’t get the other 500 for the newborn are you saying that he can get the additional 500 from the first round? is it to late to go back and claim it?
You can claim both rounds on your 2020 tax return.
Is the income threshold based upon the 2019 taxes (I qualified for part of the stimulus in 2019) or 2020 (I won’t qualify on 2020 income) for the new baby we had this year?
Nope- it’s actually too EARLY for him to claim it. He will be able to claim the additional funds for the newborn ($500 from first round and $600 for this one) when he files his 2020 taxes (due April 15, 2021).
can one still get unemployment benefits retroactively applied in ny. i was temporarily furloughed and was to spaced out to realize that i was eligible for unemployment . is it to late to sign up for unemployment and fill out the docu sign on april may and june etc
You should be able to still get the unemployment
I think the deadline is 12/31 so hurry up and apply online. Super easy to do so and you don’t have to pay 1k for someone to help you.
Am I crazy or does the text of this bill state that PPP will be monthly payroll multiplied by 4?
If I qualified for EIC last year 2019, but my income was higher this year- I am able to use last years income to qualify for the credit?
No.
You can use last year’s EIC, but not AGI.
dan I have a an idea , lets offer michel ohayon from the waldorf Jerusalem 130 million dollars 30 million dollars less then what he paid for the whole hotel back in October 2019, the money and use it as a down payment to purchase the hotel. and work out trying to get loan forgiveness on it. that would leave us with 120 million dollars mortgage for 30 years at 4 million a year, and we hock up the ceo of Hilton to get rid of the contract with Hilton so Hilton stops taking their ten percent cut, and then we have less of a payroll because we don’t have to keep waldorf standards of employee amounts . we then unfortunately do some staff cutting and figure out how to keep our mortgage and expenses at 7 or 8 million a year and the rest would be profit and we have free apartments in israel for shavous and succos! instead of buying an apartment there thank you for taking the time to listen
This post is amazingly done with so much info broken down, but the best part, is the DD plane as the picture for this. Hope DD airlines gets some stimulus….
DD clearly identifies as an airline, so I’m sure we’ll do quite well with this bailout!
“Identifies as a airline”
Line of the century!!
If I got the full amount of PPP last time around can I get again now?
Yes, as long as revenue is down 25% in a quarter.
Which year(s) will they look at AGI for? Last time it was 2018 OR 2019. Still the same, or only 2019 now? If someone hasn’t filed 2019 taxes, is there a deadline they have to file by to get this second payment? (I won’t qualify for as high a payment based on 2020 income unfortunately).
I have the same question, my 2018 tax return was much lower than my 2019. I figured there might be another stimulus package so i held out on filing my 2019 to get a higher amount based on 2018. Reading around it looks like I was correct and they will base your stimulus on the 2018 if that is all you have. I saw Dan wrote that they will base on 2020, that I think is forsure incorrect, since they will be giving out this stimulus in the next few weeks, before anyone can file their 2020 Return.
If I just had a kid and not planning on filing taxes how could I get the extra money?
I think you need to file 2020 taxes to claim it.
But I am not an accountant and most of the questions in this thread should e directed at an accountant.
Thank you for the reply and for everything else. Hopefully they will add a way to claim it..
I, as an accountant who dealt with lots of varying EIP scenarios, anticipate that the IRS will reopen the non-filer applications.
@ jack out of the box / accountant
Q i filed the non-filer form but for some reason the irs claims that i only listed 4 of my children [even though i have a copy of the form that i saved that lists 6 children] and therefore only got the stimulus for 4 of the children and not the other 2 is there anything to do to get for the other 2 children for last stimulus? [and what about this round of stimulus will i get again only for the 4 children?] thnx
That happened to many people.
See if the IRS has any answers for you here. https://www.irs.gov/coronavirus/economic-impact-payment-information-center
You may end up having to file a very basic 2020 tax return and claim the missing refund there.
How is the $300 unemployment working? Is it for retro? I finished all weeks of unemployment as of Dec 2020 will I be getting these benefits or is it only for going forward?
Have same question, last time with Trumps executive order the additional $300 was retroactively wondering how it will work now
@Joe I definitely hope so.
Wait and see and let us know.
I dont think it’s retro but it can be on the extra 11 weeks you’ll now get.
@MoG I really hope you’re wrong cuz I don’t think there is an extra 11 weeks there was a max of 59 I think weeks due to Covid, originally its 26 weeks (6 months)
You still should be getting unemployment. Were you signed up for pandemic unemployment?
Yes I was. I had stated unemployment in April of 2019 till October 2019- 6 months. Once the pandemic hit they extended it and since I was within 6 months or so I was eligible to continue receiving benefits. However at this point it’s maxed out.
All of this, plus the Fed’s activity, is just making our dollars worthless
Do bochurim also get money for learning?
Yup. Its called Kollel.
I assume that just like last time both myself and my wife will receive stimulus checks even though neither of us are american but rather are here in the US on religious work visas.
Are students from any college eligible for forgiveness or only specific ones?
Also is there any grants for college students in this bill?
“$25 billion will be funded for people to use to pay past due and future rent or utilities payments.”
Any idea how this will be distributed? Was this also in the first stimulus package?
This bill describes D.C in a nutshell.
They do this all the time – take a critical issue which pulls on people’s heartstrings, kinda-sorta address the issue….. and then tack on every pet project by every politician under the sun to come up with a final bill where only a small fraction of it has anything to do with it’s supposed intention.
And then if you vote against the issue, you’ll be attacked for being against that critical issue.
The COVID relief bill has very little to do with COVID, just like the bill a few years ago to extend health benefits for 9/11 first responders had very little to do with 9/11 first responders.
The only bipartisan issue in D.C. is to never let a crisis go to waste.
So well put.
Not smart to disrespect 9/11 responders who are sick and dying heroes. Maybe I misunderstood you. Try again?
The phaseout with children will be $12,000 higher per child, so a couple with 2 kids will phaseout completely at $198,000 and with 4 kids at $222,000. Hi I haven’t seen this info posted anywhere else. Can you please direct me to where I can get more info?
Does that mean that you can get the full payment with a higher income? E.g. 5 kids making 200k getting $3600?
A couple with 5 kids would get the full amount up to $210K AGI and will phase out completely at $234K AGI.
Are you sure? A 24k phaseout range at 5% implies a total phaseout of $1,200. A couple with 5 children would be left with a net $3k in that se at full phaseout. Makes more sense to me that the lower limit of 150k does not increase for each child and only the upper limit increases. Unless you are saying the 24k range phaseout is proportional to the full stimulus you would have gotten (but that would not be 5%).
Our children and grandchildren will inherit this country’s $27 trillion debt because of decisions like this.
Because of decisions like the 2017 tax cuts for the wealthy, including corporations with 35% foreign ownership.
They worked for their money, they should be able to keep it.
What about those 17+ yr old dependants/full-time students who were completely excluded from the last bill? Are they considered dependants/family members this time, or will they still get no benefit? The last bill only considered dependants up to age 17, so my three children in HS/Yeshiva got $0
Kids still have to be under 17.
Wow. I guess they don’t need to eat, wear clothing, etc.
so not fair. There was talk that this time around dependants over 17 would be eligible, apparently the Republicans couldn’t add a meager 10 billion to the 160 billion for unemployed students with no money. My heart goes out for these young ppl. It’s a terrible feeling to be the only age group left out of this free handout. If i were in this deprived age gap, I would protest and campaign to change this. I think if all people in this age group grouped together and made “noise”, things might change. (The Torah teaches us that sometimes we should cry out “Lama Nigara?”) Granted that the package for Universities has this age group in mind, but it’s really up to the School to administer funds to students based on the school’s discretion, and in many cases many students have not received any $ or if lucky just a couple hundred dollars. What a shame!
They deserve the money.
Same as last round.
🙁
dont claim them as your dependants and they can claim the 1200 and 600 for themselves either w/their own return or if the IRS reopens the non-filer applications
Do you know how the payment assistance for renters will work? I put a one year pause on rent for tenants but would not mind having them apply for this money.
Nice of you
+1
Just wondering what a pause means, will they have to pay double rent next year as in to make up for this year or is it a year of forgiveness?
Why can’t they just wait a few more days for all the mom’s due in 2021…
Hi Dan is the unemployment benefits taxable?
yes they are, and if you didn’t deduct taxes from them, you may end up being hit with a big tax bill next april.
DAN what does the unemployment up to 11 weeks mean does it mean11 weeks from now and I’ll also get retroactively for what I had filled previously or it means 11 weeks altogether?
Going forward.
@Dan Where does it say going forward? Is this only for those that didn’t max at? I’m maxed out as of now.
I benefit from the student loan forgiveness for historically black colleges. Thanks for asking!
Looking at the comments here, trying to figure out why no one is writing about how much the post office bailout helped them!
A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury.
Bingo
100% deductible meals!! French Laundry, here I come!!
Anyone know if sba loans have to be paid or they don’t like the first stimulus?
when can we apply for a 2nd PPP loan? Also, anyone know the answer to my question about deducting the EIDL I asked earlier above?
You’re more likely to get a correct answer on the PPP forum, than here.
My unemployment just ran out including the extension in CA, will thay extend now for another 10 weeks or will I only receive the $300 from the feds?
My question is will we get the $300 for 11 weeks if we can’t certify benefits anymore since we’re maxed out.
i still never received my first stimulus check! Tried checking online and they have no information for me! Any suggestions?
Claim it on your 2020 tax return Line 30.
I would love to know this too! My older teen filed her own 2019 taxes so she could get the 1200 (and we didn’t get dependent credit for her) and never got it! We both lost out.
That’s what happens when you break the law.
What law?
If according to the law which determines dependent status, she COULD be claimed as a dependent on someone else’s return, then she is not permitted to claim her own EIP refund even if nobody actually claims her and she chooses to file on her own.
See https://www.irs.gov/pub/irs-pdf/p501.pdf page 11 for rules of claiming a dependent.
@Rivka when did she file her 2019 return? It’s possible at that point it was too late for 2019 and she’ll have to file for 2020. I know I received the stimulus 4/15 but only filed 8/15 (a month late) so since it was my first time filing for my daughter born in 2019 the IRS didn’t count her when they gave me the refund on 4/15 since they “didn’t know she existed.” I will be claiming her on the 2020 return and claiming my stimulus for her. Obviously speak to an accountant at this point they should have a lot of information.
Anyone know what the ‘child care expenses for essential workers’ represents?
@Dan,
Thank you for the overview, here are my questions:
1) Is this only PPP or EIDL also?
“Loans under $150,000 can be forgiven using a 1 page form”
2) I saw that you wrote about “Renter Assistance”, is their any “Mortgage Assistance” like last time?
3) “Student loan forgiveness”, is it only decided by race or by school?
Thanks again
The one year extension for bonus depreciation on racehorses helps me the most.
well said #deepcut
How do I get money for a child born in 2020?
“Joint returns, where one filer is not a US citizen or resident, will now be eligible for stimulus checks.”
Will the non-U.S. citizen receive $600 in additon to the U.S. citizens on the return? Will these U.S. citizens receive the March stimulus they were excluded from?
Only the US person will get $600.
The spouse or child without a valid SSN will not receive the $600. In the first round, a nonresident alien spouse would disqualify the rest of the family. Yes, the change is retroactive so the citizens/residents will now receive their payment from the first round.
Wow thats good to know. Did you see that information about getting retroactively anywhere? Myself and my children are U.S. persons, but not my wife. It would be amazing to know for sure that we are getting retroactively.
A non-resident alien spouse would indeed disqualify the related US citizens too from these $1200/$500/600 payments, but that disqualification is primarily in the situations where the married US citizen has a joint filing status with the non-resident alien spouse. I would have to assume that a slice of married US citizens living abroad with a non-resident alien spouse have the US citizen filing tax returns without it being a “married filing jointly” status.
never filed individual tax returns
any way that i can get the stimulus check?
anyone had experience with this by the first round?
Yes.
pls explain
because the first round i didnt get anything
Behind your 600 dollar check
$300,000,000 for Migrant and Refugee Assistance pg.. 147
$10,000 per person for student loan bailout
$100,000,000 to NASA, because, who knows why.
$20,000,000,000 to the USPS, because why not
$300,000,000 to the Endowment for the Arts – because of it
$300,000,000 for the Endowment for the Humanities/ because no one even knew that was a thing
$15,000,000 for Veterans Employment Training / for when the GI Bill isn’t enough
$435,000,000 for mental health support
$30,000,000,000 for the Department of Education stabilization fund/ because that will keep people employed (all those zeros can be confusing, that’s $30 BILLION)
$200,000,000 to Safe Schools Emergency Response to Violence Program
$300,000,000 to Public Broadcasting / NPR has to be bought by the Democrats
$500,000,000 to Museums and Libraries / Who knows how we are going to use it
$720,000,000 to Social Security Admin / but get this only 200,000,000 is to help people. The rest is for admin costs
$25,000,000 for Cleaning supplies for the Capitol Building / I kid you not it’s on page 136
$7,500,000 to the Smithsonian for additional salaries
$35,000,000 to the JFK Center for Performing Arts
$25,000,000 for additional salary for House of Representatives
$3,000,000,000 upgrade to the IT department at the VA
$315,000,000 for State Department Diplomatic Programs
$95,000,000 for the Agency of International Development
$300,000,000 for International Disaster Assistance
$90,000,000 for the Peace Corp pg. 148
$13,000,000 to Howard University pg. 121
$9,000,000 Misc. Senate Expenses pg. 134
$100,000,000 to Essential Air carriers pg. 162. This of note because the Airlines are going to need billions in loans to keep them afloat ($100,000,000 is chump change.)
$40,000,000,000 goes to the Take Responsibility to Workers and Families Act This sounds like it’s direct payments for workers pg. 164
$1,000,000,000 Airlines Recycle and Save Program pg. 163
$25,000,000 to the FAA for administrative costs pg. 165
$492,000,000 to National Railroad Passenger Corporation (Amtrak) pg. 167
$526,000,000 Grants to Amtrak to remain available if needed through 2021 pg. 168 (what are the odds that doesn’t go unused) Hidden on page 174 the Secretary has 7 days to allocate the funds & notify Congress
$25,000,000,000 for Transit Infrastructure pg. 169
$3,000,000 Maritime Administration pg. 172
$5,000,000 Salaries and Expensive Office of the Inspector General pg. 172
$2,500,000 Public and Indian Housing pg. 175
$5,000,000 Community Planning and Development pg. 175
$2,500,000 Office of Housing
What DOES ALL of this have to do with the Virus?
exactly
This is the ‘‘Consolidated Appropriations Act, 2021’’ which if I understand correctly is basically the main Federal budget plan. It’s not just stimulus matters.
What DOES ALL of this have to do with the Virus?
They combined an annual appropriations bill for much of the government with another bill specifically directed at Covid relief. I bet your cable bill also is based on bundling.
The dollar will soon be worthless
Do you have a page number on the $10k student loan forgiveness?
TIA
Dan can you post the link to the 1 page for the PPP loan forgiveness application. Thank you very much for all that you help us with.
If I didn’t take a PPP loan last time, do I still have to show losses to get it this time?
If you make between 175k and 198k and have 2 kids. Do you get any money?
I don’t think so – I read that since the stimulus amounts are smaller than the spring the phase out happens faster
You must live in the US to get the Stimulus? or you can get it also if you live outside the US as long you are a US Citizen?
You can live outside the US and get the disaster-relief payment (it’s not meant to be a stimulus, they don’t want you spending it at restaurants and bars yet) even if you only have a green card. Which is only fair, because you also pay the same US taxes as US citizens overseas.
If you pay taxes, it automatically will go to your account, so even non-naturalized green card holders receive it.
Stay strong Mr President
Wait till all the Congress critters go home, then Veto and force them back to Washington.
I can’t believe more Americans are upset that Congress is spending $95 Million on new furniture, and $40 M on the Kennedy center, and I could on about all the insane grants globally.
At least $2K in direct payments would help people suffering the most and be injected back into the economy.
Personaly It’s not going to change our lives one way or the other if we got $2kpp but it would help tons of people, that I can support.
I’m kinda in favor of him letting it sit on his desk till tommorow night or let the Gov’t shutdown if he Pocket Veto’s – just doesn’t sign it it expires when the new Congress is sworn in – but the Gov’t would shutdown.
Then the new Congress has to start from scratch on the bill.
This guy is amazing. America lost their hero.
Hut bitachon!
I fully agree with the veto. Too many unnecessary stuff added to a COVID relief bill.
Do I get anything if I’m a on a student visa? All my friends are raking it in with all these stimulus cheques…
I hope it gets vetoed and republicans get their special interests out of the a$$ and vote against the bill in the revote…
Do I get anything if I’m on a student visa? All my friends are raking it in with all these stimulus cheques….
Congress likely will not be able to override, as Trump will probably not veto, but wait for the clock to run out on this year’s congress. Read more here: https://threader.app/thread/1341550658332340225
Thanks!
Yeah, but it goes into law after 10 days automatically – he could then veto on NYE – then they would have to scramble – I am not sure how long g the the budget extension passed last Friday – continuing resolution.
Thiink we should send 55 gallon drums of Tar to the Congress critters offices in DC, with a side order of feathers –
No, it is vetoed automatically if he doesn’t sign it within 10 days and Congress has adjourned. Different from some state laws.
Four more years !!!!!
You may want to clarify that the president never used the word “veto”. He sure hinted at it, but you’ll notice that even the left wing news story’s out there do not use that word.
By next week he’ll be denying that $2,000 was anything more than a bargaining chip to get the payments raised to something like $1,200. What he really wants, though, is another CR that takes him past January 6, and a new bill that he doesn’t have to sign until after the Electoral College votes are counted. This has nothing to do with Covid relief; it’s still all about the election. If anyone cared about hardworking people, they would allow more than $300 a week in unemployment payments for just 11 weeks.
Sure , so that people should be incentivized not to work… as is what happened while it was 600…
Thanks Dan!!
What other changes Trump requesting? Anything relevant to joint tax returns with ITIN holders??
They snuck in there a provision that nullifies the presidents use of the resurrection act.
I’m sure he doesn’t want that there, though I doubt he would kill the whole stimulus bill just for that
https://nypost.com/2020/12/22/covid-19-bill-contains-billions-of-dollars-in-foreign-aid/
Pelosi and Schumer back Trump 100 on raising the payment to $2,000. It’s going to be tricky for the deficit hawks to thread the needle and support Trump but not his proposal. One of the candidates in the Georgia Senate races has already endorsed $2,000. If Trump doesn’t sign it, Congress has to adjourn before the ten days expire for him to act — the clock doesn’t start running until the package is delivered to the White House, and it’s not printed yet. So it is a “pocket veto.” And the government funding ends before that, next Tuesday. The guy’s crazy, but he sure knows how to grab headlines. His video mentions “hardworking Americans” — not the billions going to retirees whose Social Security goes up as usual next month, and whose comfortable pensions have not been affected. Or to the investors who have been clipping coupons all their life. $150,000 in dividends and capital gains, another $150,000 in municipal bond income that is not counted — nice people, but not “hardworking.”
what is Trump grumbling about 500 million aid for Israel?
It is not part of 5,593 pages of part of pandemic relief to US citizens!!
$500 million earmarked for Israeli defense purchases, including to equip the Iron Dome missile defense system.
Dan why didn’t you say something about all those millions and millions of dollars going to foreign countries. Did you forget
That’s in the omnibus bill, not the Coronavirus stimulus.
Lets not forget to Thank the Creater for this money and lets give at least maaser to our local orginazations and Tzedakahs
It’s law.
“Trump also noted that the House will vote to increase direct payments to $2,000 per person and $5,200 for a family of four on Monday, and that the Senate will also start the process for a vote”
“The president said Sunday that along with signing the bill, he will invoke the 1974 Impoundment Control Act to demand “rescissions” be made to the spending measures. Under the Act, if the president wants to spend less money than Congress provided for a particular program, he can seek congressional approval to rescind by sending a special message to Congress identifying the amount he proposes to rescind, reasons for it, and the economic effects of the rescission.
“I will sign the Omnibus and Covid package with a strong message that makes clear to Congress that wasteful items need to be removed. I will send back to Congress a redlined version, item by item, accompanied by the formal rescission request to Congress insisting that those funds be removed from the bill,” he said.
House Speaker Nancy Pelosi urged the president to “immediately call on” Republican lawmakers to stop blocking legislation to increase the direct payment checks. But her statement was silent on actions regarding alleged voter fraud and legal protections under Section 230 of the 1996 Communications Decency Act for internet companies that have engaged in censoring or political conduct.
Trump said Congress has promised to review the law, which largely exempts online platforms from liability for content posted by their users although they can be held liable for content that violates anti-sex trafficking or intellectual property laws.
Section 230 currently allows companies to block or screen content “in good faith” if they consider it “obscene, lewd, lascivious, filthy, excessively violent, harassing, or otherwise objectionable.”
Trump and his administration have repeatedly underscored the risks of unbalanced policing of user content on social media platforms, claiming that many Big Tech companies are engaging in conduct that limits conservative viewpoints and stifles free speech. The president has urged Congress to roll back the liability protections and went so far as to veto a defense-spending bill over lawmakers’ failure to do so.
“Congress has promised that Section 230, which so unfairly benefits Big Tech at the expense of the American people, will be reviewed and either be terminated or substantially reformed,” he said. “Big Tech must not get protections of Section 230!”
Meanwhile, Trump also said that both houses of Congress agreed to “focus strongly” on the slew of evidence of voting irregularities that allegedly occurred during the 2020 presidential election. The president noted that the Senate will now be starting “an investigation into voter fraud.”
The president and his legal team are fighting against the clock to seek a determination from the courts over mounting evidence they say raises questions over whether the 2020 election was stained by fraud and last-minute unconstitutional rule changes due to the measures introduced during the pandemic. If so, the president is seeking to invalidate ballots and allow state legislatures to decide on which electoral college votes should be counted on Jan. 6 during the joint session of Congress.
[Update] it seems he just signed the bill
This least dangerous virus disease with cure rate of 99.8 % is being used by evil and dumb politicians to destroy people’s livelihood , immense mental suffering and children’s future . Then the politicians passed a bill with billions of our money for foreign countries for their border walls , new boats, road , pay off their debts etc. how many millions to Sudan and Pakistan! Hundreds of millions and these Islamic radical country politicians will take away all. people of other nations will never allow this kinda of reckless waste of money if this was done by other countries!
I would have thought the common cold was the least dangerous virus disease. Thanks for clearing that up. What’s next? Maybe we’ll find out the Holocaust deniers know something we don’t. But what I want to know, is why did Trump request all that foreign aid in the budget he sent to Congress in the first place?
why are you being disingenuous, do you really believe he wanted it there?/
He was for it before he was against it before he was for it again.
I think @cgr deserves a shoutout for all the amazing info and help she has provided on DDF and her website.
Absolutely!
Do you know if TurboTax will have an field to request the stimulus check based on 2020 return if I didn’t Qualify in 2019? Not sure where in their program that would be and that’s how I normally file my taxes.
It will be claimed on Line 30 of Form 1040. TurboTax will compute it based on your input of what you received, if anything, this year.
”’If they didn’t take the full PPP previously, they can claim it now. ”’ Does this mean if I got partial last time I can resubmit for the missing amount plus a second draw? Where did you see this information?
for ppp.
how can a self employed show 25% loss? i only get paid from my c corp at the end of the year… will I need to show my a decrease on my personal statement? or on my business ?
He signed for $600 or $2000?
$600.
US House votes 275-134 to increase #COVID19 checks to $2,000.