[Update: President Trump Signs Bill Into Law] Here Are The Coronavirus Stimulus Benefits That Congress Is Voting On Today!

228
DDMS IconNever Miss Another Deal - Follow DansDeals on Facebook

Update, 12/27: President Trump has now signed this bill into law.

Update, 12/22: President Trump is threatening to veto this bill unless the stimulus is raised to $2,000 per person, among several other changes he is requesting.

If he vetoes it, Congress can still override the veto with 2/3rds voting to pass the bill as is. If members keep their original vote, they would be able to override the veto. What do you think will happen?

Update, 12/21: This has been passed by the House 359-53 and by the Senate 92-6. It will now be sent to President Trump to be signed into law!


The House and Senate are now voting on $900 billion in Coronavirus stimulus benefits. It is expected to pass tonight and President Trump should sign it into law.

You can read through the 5,593 pages of it here, but here are some of the things that it will do:

  • Stimulus checks of $600 per adult and per child.
    • This will set the government back about $166 billion. The checks will be phased out for single filers making more than $75,000 and married filers making more than $150,000 AGI. That amount is phased out at a rate of $5 per $100 of income until a single filer makes $87,000 or a married couple without children makes $174,000, at which point it is completely phased out. The phaseout with children will be $12,000 higher per child, so a couple with 2 kids will phase out completely at $198,000. A couple with 4 kids will phase out completely at $222,000.
    • Don’t forget that if your income drops on your 2020 tax return, or if you had a child in 2020, you can still claim additional funds from the March stimulus and for this stimulus on your 2020 tax return!
    • Joint returns, where one filer is not a US citizen or resident, will now be eligible for stimulus checks. This is retroactive to the March stimulus as well. Only legal residents will get stimulus funds.
  • Unemployment benefits of $300 per week for up to 11 weeks, on top of state benefits will be funded with $120 billion. These will not only cover regular employees, but also gig economy and other self-employed workers who lose work due to coronavirus. This will run through 3/14/21. Also extended through March 14 for up to 50 weeks are Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation programs for assistance after state benefits run out. Employers will have to inform states of employees refusing an employment offer.
  • A federal moratorium on evictions will be extended from 12/31/20 to 1/31/21. $25 billion will be funded for people to use to pay past due and future rent or utilities payments.
  • PPP forgivable loans have been funded with an additional $284 billion. 501(c)6 nonprofits are now eligible for PPP loans. To qualify, a company must make a good faith certification that they need the loan based on current economic conditions. They can get a loan of 2.5 times the monthly payroll, capped at $20,833 in funding per employee and can spend it over 24 weeks with at least 60% going towards payroll. If they didn’t take the full PPP previously, they can claim it now. Allowable expenses now include supplier costs, PPE, and property damage due to looting. If they are taking a 2nd PPP loan they must demonstrate a loss of 25% of greater in any quarter of 2020 as compared to the same quarter in 2019.
    • If you received forgiveness on a PPP loan, you can deduct the expenses paid with that loan.
    • You no longer have to deduct EIDL grants from PPP forgiveness.
    • Loans under $150,000 can be forgiven using a 1 page form.
    • Accommodation and food establishments can take a forgivable loan of 3.5 times monthly payroll.
  • Employee Retention Tax Credit can now be taken by employers in addition to PPP loans, whereas previously you had to choose one or the other. The refundable payroll tax credit is increased from a cap of $5,000 to $14,000 by changing the calculation from 50% of wages paid up to $10,000 to 70% of wages paid up to $10,000 for any quarter.
  • EIDL grants for an emergency grant for small businesses of up to $10,000 in low-income neighborhoods.
  • Earned Income Tax Credits and Child Tax Credits will allow you to use your choice of 2019 or 2020 earned income for qualification on your 2020 tax return, though you will need to include unemployment income when calculating your 2020 AGI.
  • Business meals will be 100% deductible in 2021 and 2022.
  • Vaccines will be funded with $69 billion to make them available for free to those who need it.
  • Food stamps will be funded with $13 billion and will give 15% more benefits from 1/1/21-6/30/21.
  • K-12 schools will receive $54 billion in funding, higher education will get $23 billion, and child care providers will get $10 billion. Child care assistance will be given to essential workers.
  • Airlines will get $15 billion for 4 months of “payroll assistance.” That comes out to $375,000 of assistance per furloughed job!
  • Amtrak, airports, buses, state highways, and other transportation also will receive bailouts, as will live event venues like theaters and museums.
  • $7 billion to increase broadband access.
  • The post office gets a $10 billion grant.
  • State and local governments can spend their 2020 CARES funding throughout 2021.
  • $1.3 billion in federal student loan forgiveness for historically Black colleges.

Which of these items will you benefit from?

Leave a Reply

228 Comments On "[Update: President Trump Signs Bill Into Law] Here Are The Coronavirus Stimulus Benefits That Congress Is Voting On Today!"

All opinions expressed below are user generated and the opinions aren’t provided, reviewed or endorsed by any advertiser or DansDeals.

Chaim

Why can’t the airlines go thru the PPP like every other industry that was effected by COVID ? Hotel groups small business etc equal treatment for all !!

Joelfreak

Much better lobbyists. From both owners AND labor. Its a clear winner for both sides to support.

BB

Hey Dan,
Thanks for reading those 5,593 pages for us! 🙂

Mountain Man

Speed reader

izzy

What about ability to take money out of retirement funds without penalty? It was part of CARES act, but expires on 12/31/20. Was it extended?

Joelfreak

Just to be clear, @Chaim, I agree with you.

M

Non-profits were included in the first PPP

MoG

no

Ralph

My nonprofit clients received PPP Loans

Lea

We had a baby in oct 2020 , can we claim the March $1200 for her ?
Also will we get this stimulus for her automatically this time or do we need to request it on the tax returns ?

Simcha

Any idea when the checks will start to be distributed?

D-K

When will stimulus checks be sent?

Worthless gullible taxpayer

Airlines will get $15 billion for 4 months of “payroll assistance.” That comes out to $375,000 of assistance per furloughed job!

What?!
Outrageous. Why should we bail out these greedy thieves? They treat us like trash. They cram us like sardines in the middle seat. They nickel & dime us for luggage. They no longer give us meals on flights from NY to Miami. They make us sit with a mask covering our nose 24/7 gasping for air. Etc etc

DoB

Flights between New York City and Miami are less than three hours. Am I unusual in that I can get by without a full meal for three hours and that I find a mask (obviously covering my nose; if it’s not over my nose, then what’s the point?) a minor inconvenience for three hours? I agree that $15 billion is outrageously high, but your specific complaints are pretty shvach.

Ari

Agree

Ari

It’s insane. This Bill and more like it will probably cause runaway inflation soon

Nachi

“If you received forgiveness on a PPP loan, you can deduct the expenses paid with that loan”

Deduct it for what purpose?

TruthSayer

Not to mention airlines have already terminated dozens of airports from their service schedules. Would love to see them forced to offer service back to these smaller cities.

Yoel

Is it taxable income or gross income? Which line on the 1040 do they go by?

Yitz

I believe its Adjusted gross income. Line 8b on 2019 return

Daniel

Why are we giving out money again to people that haven’t been adversely impacted by the pandemic? I understand struggging businesses and the unemployed or those with pay cuts, but why everyone? Seems ridiculous.

Matovu

So that we can spend it at those franchises that were effected.
Stimulate .

Rivka

I agree. Bh my family hasn’t been affected too much financially (but may see a lagged effect on our professions) so have used previous stimulus money to support local businesses that have been affected. We have been eating waaaaay more takeout

Nachi

So why not give the money straight to them ?

This whole stimulus has nothing to do with logic.

ChapsTheMatzav

Good morning.

ChapsTheMatzav

Because they bribe the congressppl. (Duh)

Emes

So last time around american citizens who live and work abroad got checks. Which I think was ridiculous. What’s going to be this time?

C. From south america

Why are we less american than you?? Don’t we file taxes every year?

Ken Men

The question is, are these checks made to help the citizens of the country, or to help the people effected by the lockdowns etc. that the government makes.

Ari

The same I

Liam K. Nuj

What is the maximum age for “children”? Is it any child that are claimed as a dependent or even those that are still living in my basement?

CollegeGirl

I hope that older children have an income of sorts or can file their own return they’d get more money that way $1200 for round 1 and $600 round 2. Otherwise if you claim them it’s $500 plus $600. Anyhow it goes according to if you can claim them on your return and that depends on if they qualify or not based on certain criteria.

Rivka

My 19 year old daughter filed on her own for 2019 and never got the $1200. I wonder if she’ll get the $600 now

Memere613

She probably didn’t request it on time – al it is is a tax refund, so she’ll tell whoever is filing taxes for her this year, and she’ll get it as a refund…

Rivka

Does it matter if we claim her as a dependent in 2020? ie will she get the credit based on her 2019 filing when she files for 2020?

CollegeGirl

That’s a question for your accountant. I filed 2019 with a dependent and didn’t get the $500 officially I should be getting it with my 2020 return.

Dovid

So if my AGI for 2019 was below the EIC limit but in 2020 my AGI was above the limit, I can still claim an EIC for this year?

Mike

Do you know the requirements for eidl. Is it just more funds or each business can get more funding?

david

can you explain better the earned income credit part? for 2020 does all unemployment even the extra 600 per week count?

El

For the part about the EIDL no longer being deducted from the PPP forgiveness…is that for past loans or only for future loans? the sba already approved my loan forgiveness minus my EIDL amt. Will that be reassessed or is it too late for that? Thanks

Amizrahi

Why loan forgiveness only black colleges I. Have two daughters with families very hard to pay back now can’t work hav children home

Rivka

Hopefully that will be addressed in the next administration. It’s on the list and can be done with an executive order.

ChapsTheMatzav

If the great Donald trump didn’t do it sleepy Joe is not gonna get it done.

Chaim

The future of the Dem party.
Not a rabblerouser but it’s the truth

What\'s good for the goose, is good for the Gander

None of this makes sense.. it’s all just political pandering
Once you know that, there are no more questions

Dovid

This isn’t student loan forgiveness. The $1.3b forgives loans HBCU’s had for other expenses taken on by the schools.

Bt

Why isn’t there anything whatsoever being demanded of the airlines as a condition for receiving these funds?

ChapsTheMatzav

Because they bribe the ppl in power.

Malibumiler

Great post Dan! So helpful! Lots of terms I think are absolutely absurd; however looks like we will be eating some fantastic business meals in the next 2 years!

S

Is the RMD arequirement for IRAs waived in this stimulus Bill, like the last?

ads

my freind had a child in may 2020 he told me he got 2400 but couldn’t get the other 500 for the newborn are you saying that he can get the additional 500 from the first round? is it to late to go back and claim it?

CtownBin

Nope- it’s actually too EARLY for him to claim it. He will be able to claim the additional funds for the newborn ($500 from first round and $600 for this one) when he files his 2020 taxes (due April 15, 2021).

ds

can one still get unemployment benefits retroactively applied in ny. i was temporarily furloughed and was to spaced out to realize that i was eligible for unemployment . is it to late to sign up for unemployment and fill out the docu sign on april may and june etc

Ys

You should be able to still get the unemployment

CollegeGirl

I think the deadline is 12/31 so hurry up and apply online. Super easy to do so and you don’t have to pay 1k for someone to help you.

Esty

Am I crazy or does the text of this bill state that PPP will be monthly payroll multiplied by 4?

Jack

If I qualified for EIC last year 2019, but my income was higher this year- I am able to use last years income to qualify for the credit?

worth it

dan I have a an idea , lets offer michel ohayon from the waldorf Jerusalem 130 million dollars 30 million dollars less then what he paid for the whole hotel back in October 2019, the money and use it as a down payment to purchase the hotel. and work out trying to get loan forgiveness on it. that would leave us with 120 million dollars mortgage for 30 years at 4 million a year, and we hock up the ceo of Hilton to get rid of the contract with Hilton so Hilton stops taking their ten percent cut, and then we have less of a payroll because we don’t have to keep waldorf standards of employee amounts . we then unfortunately do some staff cutting and figure out how to keep our mortgage and expenses at 7 or 8 million a year and the rest would be profit and we have free apartments in israel for shavous and succos! instead of buying an apartment there thank you for taking the time to listen

united

This post is amazingly done with so much info broken down, but the best part, is the DD plane as the picture for this. Hope DD airlines gets some stimulus….

yy

If I got the full amount of PPP last time around can I get again now?

CtownBin

Which year(s) will they look at AGI for? Last time it was 2018 OR 2019. Still the same, or only 2019 now? If someone hasn’t filed 2019 taxes, is there a deadline they have to file by to get this second payment? (I won’t qualify for as high a payment based on 2020 income unfortunately).

DZ the Telzer

I have the same question, my 2018 tax return was much lower than my 2019. I figured there might be another stimulus package so i held out on filing my 2019 to get a higher amount based on 2018. Reading around it looks like I was correct and they will base your stimulus on the 2018 if that is all you have. I saw Dan wrote that they will base on 2020, that I think is forsure incorrect, since they will be giving out this stimulus in the next few weeks, before anyone can file their 2020 Return.

Some deals are 2 good to be true

If I just had a kid and not planning on filing taxes how could I get the extra money?

CollegeGirl

How is the $300 unemployment working? Is it for retro? I finished all weeks of unemployment as of Dec 2020 will I be getting these benefits or is it only for going forward?

Joe

Have same question, last time with Trumps executive order the additional $300 was retroactively wondering how it will work now

CollegeGirl

@Joe I definitely hope so.

ChapsTheMatzav

Wait and see and let us know.

MoG

I dont think it’s retro but it can be on the extra 11 weeks you’ll now get.

CollegeGirl

@MoG I really hope you’re wrong cuz I don’t think there is an extra 11 weeks there was a max of 59 I think weeks due to Covid, originally its 26 weeks (6 months)

menachem

You still should be getting unemployment. Were you signed up for pandemic unemployment?

CollegeGirl

Yes I was. I had stated unemployment in April of 2019 till October 2019- 6 months. Once the pandemic hit they extended it and since I was within 6 months or so I was eligible to continue receiving benefits. However at this point it’s maxed out.

None

All of this, plus the Fed’s activity, is just making our dollars worthless

Yehuda Nussbaum

Do bochurim also get money for learning?

ChapsTheMatzav

Yup. Its called Kollel.

YM

I assume that just like last time both myself and my wife will receive stimulus checks even though neither of us are american but rather are here in the US on religious work visas.

yg

Are students from any college eligible for forgiveness or only specific ones?
Also is there any grants for college students in this bill?

united

“$25 billion will be funded for people to use to pay past due and future rent or utilities payments.”

Any idea how this will be distributed? Was this also in the first stimulus package?

rob

This bill describes D.C in a nutshell.

They do this all the time – take a critical issue which pulls on people’s heartstrings, kinda-sorta address the issue….. and then tack on every pet project by every politician under the sun to come up with a final bill where only a small fraction of it has anything to do with it’s supposed intention.

And then if you vote against the issue, you’ll be attacked for being against that critical issue.

The COVID relief bill has very little to do with COVID, just like the bill a few years ago to extend health benefits for 9/11 first responders had very little to do with 9/11 first responders.

The only bipartisan issue in D.C. is to never let a crisis go to waste.

Miriam

So well put.

Marc

Not smart to disrespect 9/11 responders who are sick and dying heroes. Maybe I misunderstood you. Try again?

commenter

The phaseout with children will be $12,000 higher per child, so a couple with 2 kids will phaseout completely at $198,000 and with 4 kids at $222,000. Hi I haven’t seen this info posted anywhere else. Can you please direct me to where I can get more info?
Does that mean that you can get the full payment with a higher income? E.g. 5 kids making 200k getting $3600?

Bad idea

Our children and grandchildren will inherit this country’s $27 trillion debt because of decisions like this.

Bob

Because of decisions like the 2017 tax cuts for the wealthy, including corporations with 35% foreign ownership.

ChapsTheMatzav

They worked for their money, they should be able to keep it.

js

What about those 17+ yr old dependants/full-time students who were completely excluded from the last bill? Are they considered dependants/family members this time, or will they still get no benefit? The last bill only considered dependants up to age 17, so my three children in HS/Yeshiva got $0

Bob

Kids still have to be under 17.

js

Wow. I guess they don’t need to eat, wear clothing, etc.

Chayim

so not fair. There was talk that this time around dependants over 17 would be eligible, apparently the Republicans couldn’t add a meager 10 billion to the 160 billion for unemployed students with no money. My heart goes out for these young ppl. It’s a terrible feeling to be the only age group left out of this free handout. If i were in this deprived age gap, I would protest and campaign to change this. I think if all people in this age group grouped together and made “noise”, things might change. (The Torah teaches us that sometimes we should cry out “Lama Nigara?”) Granted that the package for Universities has this age group in mind, but it’s really up to the School to administer funds to students based on the school’s discretion, and in many cases many students have not received any $ or if lucky just a couple hundred dollars. What a shame!

ChapsTheMatzav

They deserve the money.

Jack out of the Box

Same as last round.
🙁

MoG

dont claim them as your dependants and they can claim the 1200 and 600 for themselves either w/their own return or if the IRS reopens the non-filer applications

Seth

Do you know how the payment assistance for renters will work? I put a one year pause on rent for tenants but would not mind having them apply for this money.

Gaby

Nice of you

Simcha

+1

CollegeGirl

Just wondering what a pause means, will they have to pay double rent next year as in to make up for this year or is it a year of forgiveness?

4yourinfo

Why can’t they just wait a few more days for all the mom’s due in 2021…

Dans fan

Hi Dan is the unemployment benefits taxable?

the big x

yes they are, and if you didn’t deduct taxes from them, you may end up being hit with a big tax bill next april.

Dans fan

DAN what does the unemployment up to 11 weeks mean does it mean11 weeks from now and I’ll also get retroactively for what I had filled previously or it means 11 weeks altogether?

Yisrolik

I benefit from the student loan forgiveness for historically black colleges. Thanks for asking!

Yisrolik

Looking at the comments here, trying to figure out why no one is writing about how much the post office bailout helped them!

Alexander Fraser Tytler

A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury.

Mike

Bingo

AK

100% deductible meals!! French Laundry, here I come!!

Jg

Anyone know if sba loans have to be paid or they don’t like the first stimulus?

el

when can we apply for a 2nd PPP loan? Also, anyone know the answer to my question about deducting the EIDL I asked earlier above?

BrooklynDan

You’re more likely to get a correct answer on the PPP forum, than here.

Moko

My unemployment just ran out including the extension in CA, will thay extend now for another 10 weeks or will I only receive the $300 from the feds?

CollegeGirl

My question is will we get the $300 for 11 weeks if we can’t certify benefits anymore since we’re maxed out.

sarah

i still never received my first stimulus check! Tried checking online and they have no information for me! Any suggestions?

Jack out of the Box

Claim it on your 2020 tax return Line 30.

Rivka

I would love to know this too! My older teen filed her own 2019 taxes so she could get the 1200 (and we didn’t get dependent credit for her) and never got it! We both lost out.

Bob

That’s what happens when you break the law.

Rivka

What law?

Jack out of the Box

If according to the law which determines dependent status, she COULD be claimed as a dependent on someone else’s return, then she is not permitted to claim her own EIP refund even if nobody actually claims her and she chooses to file on her own.
See https://www.irs.gov/pub/irs-pdf/p501.pdf page 11 for rules of claiming a dependent.

CollegeGirl

@Rivka when did she file her 2019 return? It’s possible at that point it was too late for 2019 and she’ll have to file for 2020. I know I received the stimulus 4/15 but only filed 8/15 (a month late) so since it was my first time filing for my daughter born in 2019 the IRS didn’t count her when they gave me the refund on 4/15 since they “didn’t know she existed.” I will be claiming her on the 2020 return and claiming my stimulus for her. Obviously speak to an accountant at this point they should have a lot of information.

Essential

Anyone know what the ‘child care expenses for essential workers’ represents?

Barry D

@Dan,
Thank you for the overview, here are my questions:

1) Is this only PPP or EIDL also?
“Loans under $150,000 can be forgiven using a 1 page form”
2) I saw that you wrote about “Renter Assistance”, is their any “Mortgage Assistance” like last time?
3) “Student loan forgiveness”, is it only decided by race or by school?

Thanks again

Gtr

The one year extension for bonus depreciation on racehorses helps me the most.

kmc

well said #deepcut

Tziporah

How do I get money for a child born in 2020?

Ygoldman

“Joint returns, where one filer is not a US citizen or resident, will now be eligible for stimulus checks.”
Will the non-U.S. citizen receive $600 in additon to the U.S. citizens on the return? Will these U.S. citizens receive the March stimulus they were excluded from?

Jack out of the Box

Only the US person will get $600.

Bob

The spouse or child without a valid SSN will not receive the $600. In the first round, a nonresident alien spouse would disqualify the rest of the family. Yes, the change is retroactive so the citizens/residents will now receive their payment from the first round.

Ygoldman

Wow thats good to know. Did you see that information about getting retroactively anywhere? Myself and my children are U.S. persons, but not my wife. It would be amazing to know for sure that we are getting retroactively.

GUWonder

A non-resident alien spouse would indeed disqualify the related US citizens too from these $1200/$500/600 payments, but that disqualification is primarily in the situations where the married US citizen has a joint filing status with the non-resident alien spouse. I would have to assume that a slice of married US citizens living abroad with a non-resident alien spouse have the US citizen filing tax returns without it being a “married filing jointly” status.

Yeshiva Bochur

never filed individual tax returns
any way that i can get the stimulus check?
anyone had experience with this by the first round?

Me.

Yes.

Yeshiva Bochur

pls explain
because the first round i didnt get anything

doctorman

Behind your 600 dollar check
$300,000,000 for Migrant and Refugee Assistance pg.. 147
$10,000 per person for student loan bailout
$100,000,000 to NASA, because, who knows why.
$20,000,000,000 to the USPS, because why not
$300,000,000 to the Endowment for the Arts – because of it
$300,000,000 for the Endowment for the Humanities/ because no one even knew that was a thing
$15,000,000 for Veterans Employment Training / for when the GI Bill isn’t enough
$435,000,000 for mental health support
$30,000,000,000 for the Department of Education stabilization fund/ because that will keep people employed (all those zeros can be confusing, that’s $30 BILLION)
$200,000,000 to Safe Schools Emergency Response to Violence Program
$300,000,000 to Public Broadcasting / NPR has to be bought by the Democrats
$500,000,000 to Museums and Libraries / Who knows how we are going to use it
$720,000,000 to Social Security Admin / but get this only 200,000,000 is to help people. The rest is for admin costs
$25,000,000 for Cleaning supplies for the Capitol Building / I kid you not it’s on page 136
$7,500,000 to the Smithsonian for additional salaries
$35,000,000 to the JFK Center for Performing Arts
$25,000,000 for additional salary for House of Representatives
$3,000,000,000 upgrade to the IT department at the VA
$315,000,000 for State Department Diplomatic Programs
$95,000,000 for the Agency of International Development
$300,000,000 for International Disaster Assistance
$90,000,000 for the Peace Corp pg. 148
$13,000,000 to Howard University pg. 121
$9,000,000 Misc. Senate Expenses pg. 134
$100,000,000 to Essential Air carriers pg. 162. This of note because the Airlines are going to need billions in loans to keep them afloat ($100,000,000 is chump change.)
$40,000,000,000 goes to the Take Responsibility to Workers and Families Act This sounds like it’s direct payments for workers pg. 164
$1,000,000,000 Airlines Recycle and Save Program pg. 163
$25,000,000 to the FAA for administrative costs pg. 165
$492,000,000 to National Railroad Passenger Corporation (Amtrak) pg. 167
$526,000,000 Grants to Amtrak to remain available if needed through 2021 pg. 168 (what are the odds that doesn’t go unused) Hidden on page 174 the Secretary has 7 days to allocate the funds & notify Congress
$25,000,000,000 for Transit Infrastructure pg. 169
$3,000,000 Maritime Administration pg. 172
$5,000,000 Salaries and Expensive Office of the Inspector General pg. 172
$2,500,000 Public and Indian Housing pg. 175
$5,000,000 Community Planning and Development pg. 175
$2,500,000 Office of Housing
What DOES ALL of this have to do with the Virus?

MoG

exactly

Jack out of the Box

This is the ‘‘Consolidated Appropriations Act, 2021’’ which if I understand correctly is basically the main Federal budget plan. It’s not just stimulus matters.

Bob

What DOES ALL of this have to do with the Virus?

They combined an annual appropriations bill for much of the government with another bill specifically directed at Covid relief. I bet your cable bill also is based on bundling.

Nothing to do with virus

The dollar will soon be worthless

YoniPDX

Do you have a page number on the $10k student loan forgiveness?

TIA

Ida H

Dan can you post the link to the 1 page for the PPP loan forgiveness application. Thank you very much for all that you help us with.

Joseph

If I didn’t take a PPP loan last time, do I still have to show losses to get it this time?

Abe

If you make between 175k and 198k and have 2 kids. Do you get any money?

Nic

I don’t think so – I read that since the stimulus amounts are smaller than the spring the phase out happens faster

Happy follower

You must live in the US to get the Stimulus? or you can get it also if you live outside the US as long you are a US Citizen?

Bob

You can live outside the US and get the disaster-relief payment (it’s not meant to be a stimulus, they don’t want you spending it at restaurants and bars yet) even if you only have a green card. Which is only fair, because you also pay the same US taxes as US citizens overseas.

Blake

If you pay taxes, it automatically will go to your account, so even non-naturalized green card holders receive it.

Gaby

Stay strong Mr President

YoniPDX

Wait till all the Congress critters go home, then Veto and force them back to Washington.

I can’t believe more Americans are upset that Congress is spending $95 Million on new furniture, and $40 M on the Kennedy center, and I could on about all the insane grants globally.

At least $2K in direct payments would help people suffering the most and be injected back into the economy.

Personaly It’s not going to change our lives one way or the other if we got $2kpp but it would help tons of people, that I can support.

I’m kinda in favor of him letting it sit on his desk till tommorow night or let the Gov’t shutdown if he Pocket Veto’s – just doesn’t sign it it expires when the new Congress is sworn in – but the Gov’t would shutdown.

Then the new Congress has to start from scratch on the bill.

Nachi

This guy is amazing. America lost their hero.

Memere613

Hut bitachon!

Pragmatist

I fully agree with the veto. Too many unnecessary stuff added to a COVID relief bill.

Benji

Do I get anything if I’m a on a student visa? All my friends are raking it in with all these stimulus cheques…

Memere613

I hope it gets vetoed and republicans get their special interests out of the a$$ and vote against the bill in the revote…

Benji

Do I get anything if I’m on a student visa? All my friends are raking it in with all these stimulus cheques….

YitzyS

Congress likely will not be able to override, as Trump will probably not veto, but wait for the clock to run out on this year’s congress. Read more here: https://threader.app/thread/1341550658332340225

Me.

Thanks!

YoniPDX

Yeah, but it goes into law after 10 days automatically – he could then veto on NYE – then they would have to scramble – I am not sure how long g the the budget extension passed last Friday – continuing resolution.

Thiink we should send 55 gallon drums of Tar to the Congress critters offices in DC, with a side order of feathers –

Bob

No, it is vetoed automatically if he doesn’t sign it within 10 days and Congress has adjourned. Different from some state laws.

Yosef

Four more years !!!!!

S

You may want to clarify that the president never used the word “veto”. He sure hinted at it, but you’ll notice that even the left wing news story’s out there do not use that word.

Bob

By next week he’ll be denying that $2,000 was anything more than a bargaining chip to get the payments raised to something like $1,200.  What he really wants, though, is another CR that takes him past January 6, and a new bill that he doesn’t have to sign until after the Electoral College votes are counted. This has nothing to do with Covid relief; it’s still all about the election.  If anyone cared about hardworking people, they would allow more than $300 a week in unemployment payments for just 11 weeks.    

Shlomo

Sure , so that people should be incentivized not to work… as is what happened while it was 600…

R

Thanks Dan!!

Ygoldman

What other changes Trump requesting? Anything relevant to joint tax returns with ITIN holders??

united

They snuck in there a provision that nullifies the presidents use of the resurrection act.
I’m sure he doesn’t want that there, though I doubt he would kill the whole stimulus bill just for that

Bob

Pelosi and Schumer back Trump 100 on raising the payment to $2,000. It’s going to be tricky for the deficit hawks to thread the needle and support Trump but not his proposal. One of the candidates in the Georgia Senate races has already endorsed $2,000. If Trump doesn’t sign it, Congress has to adjourn before the ten days expire for him to act — the clock doesn’t start running until the package is delivered to the White House, and it’s not printed yet. So it is a “pocket veto.” And the government funding ends before that, next Tuesday. The guy’s crazy, but he sure knows how to grab headlines. His video mentions “hardworking Americans” — not the billions going to retirees whose Social Security goes up as usual next month, and whose comfortable pensions have not been affected. Or to the investors who have been clipping coupons all their life. $150,000 in dividends and capital gains, another $150,000 in municipal bond income that is not counted — nice people, but not “hardworking.”

ppatel

what is Trump grumbling about 500 million aid for Israel?
It is not part of 5,593 pages of part of pandemic relief to US citizens!!

Suri

$500 million earmarked for Israeli defense purchases, including to equip the Iron Dome missile defense system.

Harry

Dan why didn’t you say something about all those millions and millions of dollars going to foreign countries. Did you forget

Just a Jew

Lets not forget to Thank the Creater for this money and lets give at least maaser to our local orginazations and Tzedakahs

Freecountry

It’s law.

YoniPDX

“Trump also noted that the House will vote to increase direct payments to $2,000 per person and $5,200 for a family of four on Monday, and that the Senate will also start the process for a vote”

“The president said Sunday that along with signing the bill, he will invoke the 1974 Impoundment Control Act to demand “rescissions” be made to the spending measures. Under the Act, if the president wants to spend less money than Congress provided for a particular program, he can seek congressional approval to rescind by sending a special message to Congress identifying the amount he proposes to rescind, reasons for it, and the economic effects of the rescission.

“I will sign the Omnibus and Covid package with a strong message that makes clear to Congress that wasteful items need to be removed. I will send back to Congress a redlined version, item by item, accompanied by the formal rescission request to Congress insisting that those funds be removed from the bill,” he said.

House Speaker Nancy Pelosi urged the president to “immediately call on” Republican lawmakers to stop blocking legislation to increase the direct payment checks. But her statement was silent on actions regarding alleged voter fraud and legal protections under Section 230 of the 1996 Communications Decency Act for internet companies that have engaged in censoring or political conduct.

Trump said Congress has promised to review the law, which largely exempts online platforms from liability for content posted by their users although they can be held liable for content that violates anti-sex trafficking or intellectual property laws.

Section 230 currently allows companies to block or screen content “in good faith” if they consider it “obscene, lewd, lascivious, filthy, excessively violent, harassing, or otherwise objectionable.”

Trump and his administration have repeatedly underscored the risks of unbalanced policing of user content on social media platforms, claiming that many Big Tech companies are engaging in conduct that limits conservative viewpoints and stifles free speech. The president has urged Congress to roll back the liability protections and went so far as to veto a defense-spending bill over lawmakers’ failure to do so.

“Congress has promised that Section 230, which so unfairly benefits Big Tech at the expense of the American people, will be reviewed and either be terminated or substantially reformed,” he said. “Big Tech must not get protections of Section 230!”

Meanwhile, Trump also said that both houses of Congress agreed to “focus strongly” on the slew of evidence of voting irregularities that allegedly occurred during the 2020 presidential election. The president noted that the Senate will now be starting “an investigation into voter fraud.”

The president and his legal team are fighting against the clock to seek a determination from the courts over mounting evidence they say raises questions over whether the 2020 election was stained by fraud and last-minute unconstitutional rule changes due to the measures introduced during the pandemic. If so, the president is seeking to invalidate ballots and allow state legislatures to decide on which electoral college votes should be counted on Jan. 6 during the joint session of Congress.

Ed Travel

[Update] it seems he just signed the bill

Jim

This least dangerous virus disease with cure rate of 99.8 % is being used by evil and dumb politicians to destroy people’s livelihood , immense mental suffering and children’s future . Then the politicians passed a bill with billions of our money for foreign countries for their border walls , new boats, road , pay off their debts etc. how many millions to Sudan and Pakistan! Hundreds of millions and these Islamic radical country politicians will take away all. people of other nations will never allow this kinda of reckless waste of money if this was done by other countries!

Bob

I would have thought the common cold was the least dangerous virus disease. Thanks for clearing that up. What’s next? Maybe we’ll find out the Holocaust deniers know something we don’t. But what I want to know, is why did Trump request all that foreign aid in the budget he sent to Congress in the first place?

Shlomo

why are you being disingenuous, do you really believe he wanted it there?/

Bob

He was for it before he was against it before he was for it again.

user

I think @cgr deserves a shoutout for all the amazing info and help she has provided on DDF and her website.

Indebted to cgr

Absolutely!

C

Do you know if TurboTax will have an field to request the stimulus check based on 2020 return if I didn’t Qualify in 2019? Not sure where in their program that would be and that’s how I normally file my taxes.

Bob

It will be claimed on Line 30 of Form 1040. TurboTax will compute it based on your input of what you received, if anything, this year.

Moshe

”’If they didn’t take the full PPP previously, they can claim it now. ”’ Does this mean if I got partial last time I can resubmit for the missing amount plus a second draw? Where did you see this information?

Mr Green

for ppp.
how can a self employed show 25% loss? i only get paid from my c corp at the end of the year… will I need to show my a decrease on my personal statement? or on my business ?

Trump

He signed for $600 or $2000?

MoG

US House votes 275-134 to increase #COVID19 checks to $2,000.

wpDiscuz