$2,000 a Month Payments, No Rent / Mortgage for a Year Proposed
More financial relief for Americans dealing with the COVID-19 pandemic could be coming soon, including one proposal for monthly payments of $2,000 for anyone making less than $130,000 a year.
According to Forbes, more than 88 million have received payments from the $2 trillion dollar Cares Act, with many millions more still waiting to receive their money.
One White House advisor told USA Today that the unemployment rate could rise above 20 percent, with the worse job losses coming in May and June. The Federal Reserve of St. Louis estimates the unemployment rate could rise above 32 percent, according to USA Today.
With the concern of another Great Depression, where unemployment was above 25 percent, there are several new stimulus proposals gaining traction.
Emergency Money for the People Act:
According to details of this proposal, from State Representatives Ro Khanna (D-CA) and Tim Ryan (D-OH), this act would provide every qualifying American over the age of 16, a monthly payment of $2,000 for up to 12 months.
CLICK HERE to read full bill for the Emergency Money for the People Act.
Emergency Rent and Mortgage Cancellation Legislation:
This act, if passed, would immediately suspend all rent and mortgage payments until "one calendar month after the end of the national emergency declared on March 13, 2020," according to the proposal. In addition, a Home Lenders and Rental Property Relief Fund would be set up with H.U.D. to assist landlords and lenders in covering financial losses.
CLICK HERE to read the full Emergency Rent and Mortgage Cancellation Legislation proposal.
Getting America Back to Work Act:
Proposed by Missouri Senator Josh Hawley, this act would provide a "refundable payroll tax rebate designed to cover up to 80% of employer payroll costs, applicable up to the median wage," according to Fox Business. If passed, this act wouldn't pay money directly to Americans, but make it easier for businesses to hold on to employees.
CLICK HERE to read the complete Getting America Back to Work Act.
Another bill, that hasn't been named, is being proposed by Ohio Senator Sherrod Brown, according to Fox Business. That bill would give Americans stimulus checks every quarter, instead of monthly.
President Trump stated on Friday (5/8) that he’s in “no rush” to push another stimulus package, and the administration may be waiting to see how the current stimulus package impacts the economy, according to Forbes.