On the recordMarch 22, 2020
in more than 48 hours of negotiations, there has been a lot of progress made in the subjects that are within the jurisdiction of the Finance Committee, which I chair. The results of these negotiations have led to decisions that will be in legislation we hope to vote on tomorrow that would make sure that checks go from the Federal Government to individuals--all individuals-- $1,200 for individuals, $2,400 for married couples, and $500 for each child. Those would go to people who need it--people with no income and people with up to $75,000 a year in income or a married couple with $150,000 per year income, with a phaseout to make sure that no very wealthy people or even higher income or middle-income people benefit from it. We are trying to help those who need the most help, and there wasn't disagreement from the other side that we ought to mail checks out to people. This would give Americans the cash they need to provide for their families and to weather the storm. This isn't the first time we have done this. We did it in 2008, when we had the start of the great recession. We also provided for liquidity for small businesses and larger businesses by delaying some taxes being paid so that perhaps these people who, right now, are thinking should they lay off their workforce or keep their workforce in place, being productive--to enable them to do that.…





