On March 25, Congress officially passed the two-point two trillion dollar coronavirus package. This package has a lot detailed within it, but before I go in-depth with this bill, I personally believe President Trump´s and Vice President Pence´s overall response to the coronavirus has been a laughing stock. I´m a liberal at heart but the way the President has responded has truly been a joke. Everyone in the world knew of coronavirus in January and February as it hit China the hardest at that time. The President should have signed more restrictions then, rather than in March so that the United States wouldn´t be as affected as it is today. Trump put Mike Pence, a man with no medical background, in charge of the Coronavirus team. When Mike Pence was governor of Indiana, back in 2014, Indiana was in the middle of its own health crisis. There was an opioid crisis that was leading to an HIV outbreak in southern Indiana, and Pence acted too slowly in response. Pence as governor, also slashed budgets for public health programs. Trump chose Pence, saying he´s the best man for the job, but the President´s job is to serve and protect the Constitution and its people, and Donald Trump has failed the citizens of the United States as the President.
Back to the bill itself, overall I have some pros and cons of the bill. It’s no surprise layoffs are on the rise, smaller companies and bigger companies like ArcelorMittal up Interstate 65. Unemployment claims are at higher levels than the Housing Crisis in 2009, but this bill takes steps to aid Americans in this time of crisis. There is a new pandemic unemployment assistance program. The government plans to send an additional $600, on top of state benefits, every week for four months. The good thing is that people are getting money for necessities every week, but the big con is that taxes are going to be collected to pay back the government the cash they gave its citizens in this time of crisis.
Americans who are working during this time are also involved in this stimulus package. People are eligible for a direct rebate payment of up to $1,200 for most individuals and $2,400 for most married couples. Filing jointly with an extra $500 for each child under the age of 17. Individuals with an adjusted gross income of more than $75,000 and under $99,000 and couples with ana adjusted gross income of more than $150,000 and $198,000 will receive checks on a sliding scale with adjustments depending on the number of children. Again, this is good for those people getting money for necessities, but in the long run, taxes will be raised to pay all of this money back.
The Bill has many other areas as well. $100 billion goes to compensate healthcare facilities for expenses or lost income associated with COVID-19. $27 billion goes to the Public Health and Social Services Emergency Fund for COVID-19 preparation and response, this includes developing and purchasing vaccines and diagnostics and addressing medical surge capacity. Up to $250 million may be used for grants under the Hospital Preparedness Program.
$450 million will go to the Emergency Food Assistance Program which supplies food banks. This a great thing for low-income citizens, so they can get the resources they need during this time.
$500 billion will go to corporate liquidity funds to assist small and bigger companies affected. This helps out small businesses in downtown Crown Point for example and helps out larger companies like ArcelorMittal as well. This is great to help out business owners during this time of crisis.
This stimulus package overall is great for the citizens of America during this uncertain time. Taxes will be raised after the pandemic so the United States can earn back the money it’s given to the citizens during this time.