Stimulus: Here’s what’s in the GOP’s ‘Skinny’ bill


The so-called “skinny” bill includes a $ 300 federal incentive for unemployment benefits and fresh relief for small businesses, but cuts funding for a second round of incentive checks that were previously included in the GOP proposal. It does not offer new funding for cash-strapped states that Democrats support.
The law could face a procedural vote as soon as Thursday, but there is very little chance of it ever becoming law. There are still many Republicans threatening to vote against the new proposal and are unlikely to garner any support from Democrats – much integrated with the $ 3 trillion stimulus package that the House passed in May.

Republicans also placed a $ 1 trillion stimulus bill in July, but it never came to a vote.

Benefits of unemployment

GOP Skinny Bill: Will offer federal unemployment benefits of $ 300 through the week ending December 27, which Congress included in its March coronavirus relief package. Payments will be retroactive until the end of July, when the original $ 600 weekly supplement expired.

If approved, this $ 300 benefit would likely be in addition to the $ 300 weekly payment authorized by President Donald Trump in August. However, Trump’s gains are being paid from the Federal Disaster Relief Fund and is expected to last only five weeks or more. Also, not all people currently receiving unemployment benefits are eligible for Trump’s payment.

Previous GOP Bill: Will reduce the weekly federal increase to $ 200 for August and September. Beginning in October, the unemployed will receive a payment, when 70% of their lost wages are replaced at the end of the year combined with their state benefits. Supplement cannot exceed $ 500 a week.

House Heroes Act: Weekly will extend $ 600 Federal Boost until January 31. But it would allow workers in the traditional State Benefit Program to continue to collect federal supplements until the end of March.

However, temporary federal expansion programs include – including the Pandemic Unemployment Assistance Program, which Congress created in late March to allow freelancers, some of the self-employed and epidemic-affected people to qualify for unemployed benefits – A $ 600 increase after the end of January.

Money for small businesses

GOP Thin Bill: Some will allow small businesses to apply for another loan from the paycheck protection program. It will be limited to those with fewer than 300 employees, who have seen their revenues fall by at least 35% during the first or second quarter of 2020. It can also reduce a borrower from $ 10 million to $ 2 million. Gives businesses more flexibility in how they spend money.

Previous GOP bill: Will open paycheck protection programs for second-round loans. But this would have limited the program to businesses that lost at least 50% of their revenue.

House Heroes Act: Additional funds for small business loans were not included – because the program did not end when this bill was passed in May.

Education funding

GOP Skinny Bill: Will provide $ 105 billion in education funds, about two-thirds of which will be reserved for schools that will reopen for individual instruction.

It will also provide funding for school choice scholarships that parents can use to send their child to a public or private school outside of their home district and make a grant to eligible child care providers so that they can make the cleanup Pay for supplies, safety equipment and other expenses.

Previous GOP Bill: Like the Skinny Bill, it called for $ 105 billion in education funds, about two-thirds of which would be reserved for schools that reopen for in-person instruction.

House Heroes Act: Will provide $ 100 billion in education funds. It does not fund the way to reopen schools.

What’s missing: Stimulus test

GOP Skinny Bill: Americans do not include money for the second round of direct incentive checks.

Previous GOP bill: Includes money for a second round of direct incentive payments of up to $ 1,200 for individuals and $ 2,400 for families. This will send an additional $ 500 per dependent, regardless of their age. The first round excluded dependents who were over 17 years of age.

The payment size will increase again – starting with individuals who make more than $ 75,000 per year and married couples who make more than $ 150,00 – and phasing them all together for higher income individuals.

House Heroes Act: The incentive will provide for a second round of payments that will be more lenient than the first. It calls for $ 1,200 per family member, and is over $ 6,000 per household.

The payment size will increase again – starting with individuals who make more than $ 75,000 per year and married couples who make more than $ 150,00 – and phasing them all together for higher income individuals.

What’s missing: additional state aid

Previous GOP bill: Would not provide more funding, but would increase the time window and flexibility for states to use the initial $ 150 billion to meet the revenue shortfall. Currently, those funds can only be used for coronovirus-related expenses.

State and local governments have been pressuring Congress for months to send more money to avoid massive spending cuts and layoffs.

GOP Skinny Bill: State and local governments will not provide additional assistance, even if they have been pressuring lawmakers for months to send them more money to avoid massive spending cuts and layoffs. The skinny bill extends the time that state and local governments can use the $ 150 billion Coronavirus Relief Fund money provided in the coronovirus package, which was passed by Congress in late March. The new date is September 30, 2021.

House Heroes Act: Will provide $ 500 billion to states and $ 375 billion to local governments, which can be used to replace lost tax revenue and shore up its budget amid the epidemic.

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