Saturday, August 2, 2025

Latest

New Pandemic Relief Bill to Include Another Round of Direct Payments, Payroll Tax Relief, No Aid for Cities and States

As the US continues to battle soaring coronavirus infections and reductions in unemployment, the White House, along with Senate Republicans, have been drafting a second pandemic bill to address the current economic turmoil.

The new bill is expected to cost approximately $1 trillion – a significant decline compared to the $3 trillion passed by House Democrats back in May. The bill is slated to include another round of direct payments to Americans, with amounts similar to the $1,200 in the Cares Act. In addition, there will also be a payroll tax deferral, which is supposedly aimed at incentivizing companies to keep or rehire their workers.

Source: Statista

In the meantime, Mnuchin addressed some of the concerns surrounding the $600-per-week additional employment benefits. Considering that many Republicans have been arguing that some Americans are making more by staying at home in lieu of working, as a result, the employment benefits will be scaled back with the difference replaced by tax credits for businesses as well as tax credits for personal protective equipment.

The new bill is also slated to include liability protection for healthcare providers and businesses in order to prevent lawsuits related to the coronavirus pandemic. In addition, the funding repeatedly requested by the Democrats for states and cities will not be included in the new bill. Instead, local leaders and governors will have the option to tap into a reserved $150 billion to address their shortcomings in much-needed revenue.

Information for this briefing was found via the Washington Post. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Another Gold Deal! Aris Mining Sells Assets To McFarlane

Royal Gold Goes Big | $3.5 Billion Sandstorm Acquisition

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Tax Loophole Tucked Away in CARES Act: America’s Wealthiest Are About to Become Even Wealthier

An analysis report from the Joint Committee on Taxation (JCT) regarding tax provisions in the...

Saturday, April 18, 2020, 03:00:00 PM

It’s A Coronavirus Economy, We’re All Just Planning In It

It’s been a few hours now since Canada’s Federal government announced a plan for $82...

Thursday, March 19, 2020, 09:00:29 AM

EU Leaders Finally Agree on $858 Billion Bailout, $1.3 Trillion Budget to Rebuild Coronavirus-Stricken European Economy

Since the beginning of the coronavirus pandemic, the European Union has been dealing with a...

Wednesday, July 22, 2020, 06:54:00 PM

S&P 500 Soars To 4,000 Following Biden’s Infrastructure Spending Plan Unveiling

Technology shares were sent soaring to new highs as investors’ optimism lifted amid increasing confidence...

Friday, April 2, 2021, 04:40:00 PM

State Unemployment Benefits System Outsmarted by Foreign Scammers, Unemployed Americans

When the coronavirus suddenly impaired almost the entirety of the US economy, Congress had to...

Tuesday, June 2, 2020, 04:14:00 PM