Above photo: Alex Bandoni/ProPublica. Source Images: Getty Images. IRS records reveal that 18 billionaires and some 250 other ultrawealthy people received aid intended to help middle-class Americans. In March 2020, as the first wave of coronavirus infections all but shut down the U.S. economy, Congress responded with rare speed, passing a $2.2 trillion relief package called the CARES Act. The centerpiece of the law was an emergency payment to over 150 million American households that needed help. Congress used a simple filter to determine who was eligible for assistance: The full $1,200 was limited to single taxpayers who’d reported $75,000 a […]
stimulus
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US Treasury Shelves $455 Billion In Unspent Stimulus November 26, 2020 US Treasury Shelves $455 Billion In Unspent Stimulus2020-11-262020-11-26https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/11/mnuchin.jpg200px200px Above photo: Steve Mnuchin/ New York Times. Last week the US Treasury and the US Federal Reserve Bank engaged in a rare public disagreement. US Treasury Secretary, Mnuchin, in a letter to Jerome Powell, chair of the Federal Reserve, last week directed the Fed to return $455 billion that the Fed was holding in reserve should future lending to banks and non-bank businesses become necessary if the US economy and markets further deteriorate in 2021. Fed chair Powell initially balked at Mnuchin’s […]
Prisoners Won The Right To Stimulus Checks By Keri Blakinger and Joseph Neff, NBC News. October 24, 2020 Prisoners Won The Right To Stimulus Checks2020-10-242020-10-24https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/10/prison.jpg200px200px Above photo: Advocates in several states have raised concerns that some prisoners do not have access to the forms they need to apply for the stimulus money. NBC News; Getty Images. Some prisons are standing in the way. A federal judge ruled prisoners can get the $1,200 checks many Americans received. Some prison systems are putting up roadblocks, lawyers and prisoners say. This article was published in partnership with The Marshall Project, a nonprofit news organization covering the U.S. […]
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin narrowed their differences over a proposed pandemic relief package in a phone call Monday afternoon, her spokeswoman tweeted. The two sides are racing to get a package approved before the Nov. 3 election. Source link
Bitcoin was lower, tracking what appears to be a new range between roughly $11,200 and $11,700. It’s a step up from levels that prevailed over most of September, between $10,100 and $11,000. “As the bulls push for a return to a $12,000 handle, resistance will be found just below, at $11,900,” Matt Blom, head of sales and trading for the cryptocurrency exchange owner Diginex, wrote in a daily newsletter. In traditional markets, US stock futures rose on fresh optimism that lawmakers might reach agreement on a new federal stimulus package. Gold strengthened. Happening Monday: Federal Reserve Chair Jerome Powell is scheduled to […]
After giving a deadline to the Trump administration to reach an agreement for a Covid-19 stimulus plan, Rep. Nancy Pelosi (D-California) slammed officials for wording changes she says are “unacceptable.” In a letter sent out to House Democrats on Sunday, the House Speaker did not sound optimistic on a stimulus deal being reached anytime soon. The specific disagreement at the moment appears to come down to funding for coronavirus testing and contact tracing. “The White House had assured Democrats that they would accept our language on testing with a ‘light touch,’” Pelosi wrote, presumably referring to a Saturday talk with Secretary […]
The Democratic House Speaker said if a deal isn’t reached by Tuesday evening, a package won’t be likely before Nov. 3. Source link
Activists Mobilize To Help Incarcerated People Get Stimulus Checks By Mike Ludwig, Truthout. October 16, 2020 Activists Mobilize To Help Incarcerated People Get Stimulus Checks2020-10-162020-10-16https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/10/check.png200px200px Above photo: President Trump’s name appears on the coronavirus economic assistance checks that went out earlier this year. Chip Somodevilla/ Getty Images. For months incarcerated people and their families heard conflicting messages about whether they were eligible to receive the pandemic stimulus payments provided by Congress as the Trump administration attempted to block prisoners from receiving their checks. Last week a federal judge slammed the administration with an order to provide the stimulus relief, and now […]
There’s still a chance a stimulus package can be passed before the presidential election, but those chances are fading, said the U.S. president. Source link
The talks on the next coronavirus relief package have stalled between Republicans and Democrats, as they have so far failed to reach an agreement concerning the amount of aid. US Treasury Secretary Steve Mnuchin said on Wednesday that he and the House of Representatives, namely House Speaker Nancy Pelosi, are “far apart” on the next COVID-19 stimulus. “We continue to make progress on certain issues, but on certain issues, we continue to be far apart”, Mnuchin said at the Milken Institute Global Conference in Washington. “I’d say at this point, getting something done before the election and executing on that would be difficult […]
House Speaker Nancy Pelosi lost her cool on Tuesday during an interview with CNN anchor Wolf Blitzer, calling the veteran newsman a Republican “apologist” and claiming he didn’t know what he was “talking about” after he pressed her over the long-stalled stimulus package. With the White House, House Democrats, and Senate Republicans still at a stalemate over the much-needed coronavirus relief funds—made worse by the president’s off-again/on-again approach—Pelosi rejected the Trump administration’s latest $1.8 trillion proposal, which is $400 billion less than what the House passed this month. The speaker further scoffed at it on Tuesday, saying President Donald Trump “only […]
The House Speaker says the president’s recently boosted proposal still doesn’t go far enough. Source link
Democratic House Speaker Nancy Pelosi rejected the White House’s recently boosted $1.8 trillion stimulus offer, saying it doesn’t provide enough in the way of coronavirus testing, worker safety and child care, the Financial Times reported, setting back hopes for an imminent breakthrough in talks. Source link
Optimism for the prospects for a U.S. stimulus package rose after the White House boosted its offer to Democrats on a pandemic relief package Friday. Source link
Bitcoin is up 54% this year on speculation that trillion-dollar stimulus efforts by governments and central banks will lead to inflation. Source link
US President Donald Trump said he would sign a bill approving another round of Covid-19 relief checks if one crossed his desk, apparently backtracking after saying he’d ended stimulus talks with Democrats until after the election. “[If I sent] a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy?” Trump tweeted on Tuesday evening amid a flurry of posts, tagging his own chief of staff Mark Meadows and leadership in both parties. Some 7 hours earlier, the president said he had instructed his […]
The next time you’re in the presence of someone who tries to tell you that Donald Trump is a political genius, I’d like you to grab the nearest copy of Men’s Hairstyles magazine and whack them upside the head. Maybe not too many people are saying that these days, as he’s clearly in the early stages of a ’roid-driven meltdown. But people have remarked many times on Trump’s supposed genius. It has never been true. He didn’t win his massive following by being a political genius. He won it by lying his ass off and being a racist. That’s not political […]
Nearly 130 Austrians have been stunned to receive $1,200 cheques signed by none other than US President Donald Trump. Washington’s sudden generosity appears to be a result of a mistake in its Covid-19 relief package system. Citizens of the small Alpine nation, located thousands of miles away from America, were baffled by the envelopes containing what was described as economic relief money from the US. One of the recipients, 73-year-old retiree Manfred Barnreiter, told local media he initially thought it was some sort of a scam. However, a local bank confirmed the cheques were genuine, and the man was able to […]
https://cdn1.img.sputniknews.com/img/07e4/09/04/1080370900_0:0:3217:1809_1200x675_80_0_0_8e52657137f1fad2888b13254d051aa6.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/us/202009041080370931-trump-says-willing-to-use-300-billion-of-unspent-money-for-covid-19-stimulus/ WASHINGTON (Sputnik) – US President Donald Trump said he wants to release an unspent $300 billion to use for coronavirus financial relief if Congress approves the plan. “We have $300 billion in an account that we didn’t use. I would be willing to release it, subject to Congress, and use that as stimulus money, and it will go right to the American people”, Trump said in a press briefing on Friday. According to Trump, the money is “sitting” in an account that the government ended up not needing because of the positive economic indicators. […]
Trump Scuttles Economic Stimulus Negotiations By Jack Rasmus, Popular Resistance. August 8, 2020 Trump Scuttles Economic Stimulus Negotiations2020-08-082020-08-08https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/08/covidtalks-e1596890242609.jpg200px200px Above photo: Treasury Secretary Steven Mnuchin, center, and President Donald Trump’s Chief of Staff Mark Meadows, second from right, leave following a meeting with House Speaker Nancy Pelosi of Calif. and Senate Minority Leader Sen. Chuck Schumer of N.Y. as they continue to negotiate a coronavirus relief package on Capitol Hill in Washington, Friday, Aug. 7, 2020. AP Photo/Andrew Harnik. What’s Next? Today, August 7, 2020 negotiations on an economic stimulus package between US House Democrats and the White House broke down and broke […]
Stimulus checks are prepared on May 8, 2008, in Philadelphia. In 2020, stimulus checks again went to many Americans, this time during the pandemic’s economic fallout. But some of that money went to thousands of foreign workers not eligible to receive the funds. Jeff Fusco/Getty Images hide caption toggle caption Jeff Fusco/Getty Images Stimulus checks are prepared on May 8, 2008, in Philadelphia. In 2020, stimulus checks again went to many Americans, this time during the pandemic’s economic fallout. But some of that money went to thousands of foreign workers not eligible to receive the funds. Jeff Fusco/Getty Images Thousands of […]
Amazon and Apple have reported major quarterly gains, with the Jeff Bezos brainchild posting its biggest-ever profit while Apple saw strong earnings, even as Covid-19 drives the US economy into its worst contraction on record. The two tech giants announced their second quarter results on Thursday, both topping expectations on Wall Street as online sales and virtual products see a surge amid the ongoing health crisis. Amazon revenue jumped to $88.9 billion, up 40 percent from 2019, and the company brought on some 175,000 new employees in recent months. Though it had predicted it would lose money after dropping billions on […]
White House economic adviser Larry Kudlow has said that more stimulus checks are coming, along with an extension of the current eviction moratorium. However, he was slammed for claiming that all is well with the US economy. The $1 trillion bill will include another round of stimulus checks – to the tune of $1,200 per person, Kudlow told CNN on Sunday. In addition, the relief bill will extend unemployment benefits, provide funding for schools to reopen, and allocate $16 billion for coronavirus testing. Read more “It’s a very well-rounded package,” Kudlow added. “It’s a very well targeted package.” Senate Republicans plan […]
The Breakdown Weekly Recap covers growing U.S.-China tensions, worsening job numbers and the next casual $1-$3 trillion in stimulus. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
The European Union has found hard-won agreement on a Covid-19 stimulus package, reaching consensus on a “historic” €750 billion aid package to keep the continent’s embattled economies afloat following days of debate. The 27 EU leaders inked the massive agreement early on Tuesday morning, with summit chairman Charles Michel simply tweeting “Deal!” to mark the occasion. He was joined by French President Emmanuel Macron, who hailed the move as “historic” for Europe in a tweet of his own. Jour historique pour l’Europe ! — Emmanuel Macron (@EmmanuelMacron) July 21, 2020 Officials from the regional bloc met in Brussels late last week for what was intended […]
New Delhi (Sputnik): Indian Prime Minister Narendra Modi announced a $266 billion stimulus package on 12 May to help the economy and businesses get over the crisis posed by the COVID-19 pandemic. India’s banking regulator too has infused about $80 billion into financial markets in its efforts to deal with the fallout from the pandemic. With global financial agencies revising growth projections of the Indian economy further downwards, the Modi government is holding top-level internal consultations on further macro-economic measures required in the wake of the COVID-19 pandemic. The central Cabinet, a group of key ministers, has held series of […]
Leave it to the government to “accidentally” send out coronavirus stimulus checks to over one million dead people. According a report from the Government Accountability Office, the IRS sent out approximately 1.1 million checks to deceased people, because of course they did. That amounts to approximately $1.3 Billion dollars. Apparently these were sent to people who had died after filing last year’s taxes. Forbes reports: TRENDING: UPDATE: RADICAL LEFTIST GROUP Threatens Christian Prayer Rally Planned on Saturday to Save the Iconic St. Louis Statue in Forest Park The Trump Administration sent more than a million stimulus checks worth $1.4 billion to […]
Stocks are up on fresh government stimulus expectations but when it comes to bitcoin, things are uncertainty in the near term. Bitcoin (BTC) was trading around $9,500 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. At 00:00 UTC on Tuesday (8:00 p.m. Monday ET), bitcoin was changing hands around $9,414 on spot exchanges such as Coinbase. It then climbed 2% to as high as $9,591 before sell volumes pushed bitcoin back down. The price is now above the 50-day moving averages but below the 10-day moving average. For technicians, this signals prices […]
Some members of Congress want to let tech startups access federal stimulus loans. But venture-capital-backed startups aren’t like other small businesses — they fail even in good economic times. LULU GARCIA-NAVARRO, HOST: Like many small companies, tech startups have been laying off employees – more than 40,000 people by one count. Yet tech startups backed by wealthy investors are not eligible for federal stimulus loans. But about a dozen members of Congress are urging the Small Business Administration to rethink its rules. Rachael Myrow of KQED in San Francisco reports. RACHAEL MYROW, BYLINE: Silicon Valley Congresswoman Anna Eshoo says her experience […]
Bitcoin prices look to be struggling with buyer exhaustion, having put in a negative performance in the last 24 hours despite positive developments on both the macro and technical fronts. The top cryptocurrency by market value fell from $9,760 to $9,100 during Wednesday’s U.S. trading hours, even though major investment banks like JP Morgan and Goldman Sachs called for an increase in the size of the inflation-boosting government bond purchase programs run by the Federal Reserve and other major central banks. Bitcoin is increasingly eyed as an investment alternative that isn’t prone to inflation. “The level of the expected increase in supply […]
The Supreme Court unanimously upheld a federal law struck down by an appeals court that forbids encouraging illegal aliens to remain in the U.S. unlawfully in a decision Thursday. Advertisement – story continues below The Supreme Court ruled on the law on May 7, 2020, ten days ago. That ruling was just 10 Days ago! But that didn’t stop Nancy Pelosi and House Democrats from passing a $3 trillion spending bill that gives illegal aliens in American $1,200 stimulus check! TRENDING: Rep. Ilhan Omar’s Daughter Calls American Soldiers ‘Bitches’ Who Are ‘Killing Innocent Children Abroad’ (VIDEO) The bill passed 208 to […]
This was EPIC!FOX and Friends Weekend host Pete Hegseth BLASTED shameless Democrat lawmaker Tim Ryan on Sunday morning during the Ohio Democrat’s appearance on FOX News. Advertisement – story continues below Tim Ryan, who portrays a moderate Democrat on television, was discussing the continued economic lockdown, the need for mail-in voting, the “second surge” of the coronavirus this fall, and the 3 trillion dollar bill that gives $1,200 to every illegal alien working in the US. Pete sat through much of the BS. You could see he was holding back and allowed Ryan to push his garbage.But it got to a […]
India 07:56 GMT 14.05.2020Get short URL https://cdn1.img.sputniknews.com/img/107903/90/1079039095_0:116:3072:1844_1200x675_80_0_0_bbcadb9e3370f99efcfcfa9516d5c0df.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/india/202005141079298771-indian-equities-unimpressed-with-pm-modis-corona-stimulus-sensex-loses-600-points-in-opening-trade/ New Delhi (Sputnik): The COVID-19 contagion seems to have taken the fizz out of the Indian equity markets. From levels of over 41,000 in February, the benchmark index Sensex has fallen to its current level of 32,000. The coronavirus health emergency has led to a national lockdown since 25 March and is likely to continue beyond 17 May. The COVID-19 economic stimulus worth $266 billion announced by Indian Prime Minister Narendra Modi on Tuesday seems to have failed to impress the equity markets. Even as Finance Minister […]
India 08:28 GMT 13.05.2020Get short URL New Delhi (Sputnik): Indian markets have fallen from their February levels due to the COVID-19 pandemic. From levels of over 41,000 in February, the benchmark index Sensex has fallen to its current level of 32,000. The health emergency declared due to the virus has led to a national lockdown which has lasted since 25 March. Indian markets on Wednesday gave a thumbs down to Indian Prime Minister Narendra Modi’s $266 billion COVID stimulus package to the Indian economy. After opening strongly, the Bombay Stock Exchange’s 30-share sensitive index, Sensex, slipped in early trading on […]
US 19:00 GMT 12.05.2020Get short URL The first three months of the year have seen record numbers of US citizenship renunciations. One expert argues that the current surge in Americans abandoning their US citizenships can be explained by two factors: tax returns and the COVID-19 novel coronavirus pandemic. A total of 2,909 Americans renounced their US citizenships within the first three months of 2020, according to Internal Revenue Service (IRS) data highlighted on Tuesday by enrolled agents and accountants at Bambridge Accountants New York. This presents a 1,015% increase from the 261 Americans that ditched their citizenships in the previous three-month […]