House Democrats unveil bazooka
Mar. 18, 2020 5:43 PM ETBy: Stephen Alpher, SA News Editor115 Comments
Mar. 18, 2020 5:43 PM ETBy: Stephen Alpher, SA News Editor115 Comments
- The House plan calls for at least $2K per month to be paid to all adults and $1K per month for each child as long as the crisis continues.
- All consumer and small business credit payments would be suspended. The Fed or Treasury would set up a facility to reimburse creditors/servicers in place of those consumer payments. No negative credit reporting would be allowed during this time, and debt collection would be prohibited.
- There's plenty more ... $5B for homeless, $10B for community block grants, forbearance for mortgages on rental properties (while rent payments are suspended), but this gives a taste.