“Why wouldn’t politicians want to give people $ 2,000, rather than just $ 600?” he said on twitter, possibly referring to his own party’s decision on Thursday to block a Democratic House bill that would have increased the amount of direct payments to $ 2,000. “It wasn’t their fault, it was China. Donate money to our people!
Mr. Trump was largely not involved in the negotiations over the legislation, but his Treasury Secretary Steven Mnuchin was supposed to negotiate on behalf of the president.
The aid bill also includes billions of dollars to help states distribute coronavirus vaccines, a replenished small business loan program, and relief funds for airlines. It was passed with a spending measure to maintain government funding for the remainder of the fiscal year, the cost of the combined package is $ 2.3 trillion.
Treasury Department officials, expecting the president to sign the bill this week, had planned to work over the Christmas break to revive the Small Business Paycheck Protection Program and move payments to direct deposit early next week. However, all of this now remains in limbo.
Lawmakers agreed to a plan to issue stimulus payments of $ 600 and distribute federal unemployment benefit of $ 300 for 11 weeks. You can read more about the bill and what’s in store for you here.
- Will I receive another incentive payment? Adults whose adjusted gross income on their 2019 tax return did not exceed $ 75,000 per year would receive a payment of $ 600, and heads of household earning up to $ 112,500 and a couple (or someone whose spouse is deceased). in 2020) earning up to $ 150,000 per year get double that amount. If they have dependent children, they would also receive $ 600 for each child. People with incomes just above these levels would receive a partial payment which decreased by $ 5 for every $ 100 of income.
- When can my payment arrive? Treasury Secretary Steven Mnuchin told CNBC he expected the first payments to be made before the end of the year. But it will be some time before everyone who qualifies gets their money.
- Does the agreement affect unemployment insurance? Lawmakers have agreed to extend the period during which people can collect unemployment benefits and to restart an additional federal benefit that is provided in addition to the usual state benefit. But instead of $ 600 per week, it would be $ 300. This would last until March 14.
- I’m late on my rent or plan to be soon. Will I receive relief? The deal would provide $ 25 billion for distribution by state and local governments to help tenants who have fallen behind. To receive assistance, households would have to meet several conditions: Household income (for 2020) cannot exceed more than 80% of the area’s median income; at least one household member must be at risk of homelessness or housing instability; and individuals must be entitled to unemployment benefits or have experienced financial hardship – directly or indirectly – as a result of the pandemic. The accord said aid would be a priority for families with low incomes and who have been unemployed for three months or more.
Congressional lawmakers and White House officials have indicated they are still unsure whether Mr. Trump will cede and sign the legislation, issue a formal veto, or simply leave it unsigned. While Congress could potentially overturn Mr. Trump’s veto, sitting on the bill – a so-called pocket veto – would require the next Congress to reintroduce and pass the legislation early next year.
California Democrat President Nancy Pelosi said she would hold a recorded vote on Monday on direct payments legislation that would satisfy Mr. Trump’s call for $ 2,000 direct payments and put pressure on Republicans , who oppose such high payments. Congress could also be forced to pass another interim spending measure to avoid a shutdown.
Official figures released this week revealed the lingering stress the economy is facing with falling personal income and unemployment claims remaining high. An additional 398,000 people have requested assistance in the event of an unemployment pandemic, one of two federal programs to expand unemployment benefits that will expire.