(Emily Zanotti) Speaker of the House Nancy Pelosi (D-CA) and Senate minority leader Chuck Schumer (D-NY) spent their extended recess working on a “multi-trillion dollar” “Rooseveltian” fourth coronavirus relief package that they’re set to unveil as early as next week, signaling the start of a major battle between Democrats and Republicans over yet another massive government spending bill.
(Zero Hedge) A new survey reveals that most small businesses which have applied for coronavirus relief have yet to see a pennyof it while their businesses die on the vine due to the global pandemic.
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(John Vibes) Millions of people in the United States are now unemployed as a result of the ongoing pandemic and associated lockdowns, and the $1200 that is being sent out to some U.S. citizens as a part of the recent stimulus package can only go so far.
(Amy Purr) A man said millions of dollars were deposited into his bank account instead of the anticipated $1,700 federal stimulus check on Friday in New Chicago, Indiana.
(Joseph Curl) President Trump said Sunday night that he is considering a second round of direct payments to Americans to offset the economic impact of the coronavirus pandemic.
(Greg Robb) Treasury secretary says Fed will play key role in helping businesses hurt by coronavirus
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(Alexander Bolton) Lawmakers are already planning another round of legislation aimed at keeping companies flush with capital and millions of workers on payrolls amid the coronavirus pandemic, even after passing a $2 trillion relief bill this past week, the largest stimulus of its kind in U.S. history.
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(Zack Friedman) President Donald Trump has stopped collection of federal student loan debt. Here’s what you need to know.
(Mac Slavo) In a bit of not-so-surprising news, democrat politicians have decided that during the coronavirus pandemic, they should push a liberal agenda. In the words of infamous socialist Rahm Emanuel, Democrats will “never allow a crisis to go to waste.”
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(Emily Zanotti) Speaker of the House Nancy Pelosi (D-CA) says the House of Representatives will finally take up the bipartisan Senate coronavirus relief bill on Friday, more than 24 hours after the measure passed the Senate, 96-0. In a press conference Thurdsay morning, however, she says she is still unsatisfied with the bill and that a fourth coronavirus relief package may be necessary.
(Jason Brett) As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world, this signals the U.S. is serious in establishing infrastructure for a central bank digital currency.
(Erica Werner, Mike DeBonis and Paul Kane) The Senate is aiming to vote as soon as Wednesday evening on a $2.2 trillion emergency relief package that is designed to flood the U.S. economy with money as households and businesses continue to reel from the coronavirus outbreak.
(Zero Hedge) While it will take some time to sort through all the pork contained in the massive $2 trillion coronavirus legislation negotiated between the Trump administration and Congressional leaders early Wednesday, here are some of the major provisions via Bloomberg.