Coronavirus stimulus checks: Who may or may not get it?

Speculations surrounding the next coronavirus stimulus round are in full swing nowadays. There are several media reports on what the next coronavirus package would include, how much the next stimulus checks would be and who would get it. Now, one popular Republican senator has come up with his own take on the next coronavirus stimulus checks and who would get it.

Get The Full Seth Klarman Series in PDF

Get the entire 10-part series on Seth Klarman in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q2 2020 hedge fund letters, conferences and more

Coronavirus stimulus checks: who would get it?

Sen. John Barrasso, R-Wyo., talked about the $3 trillion HEROES Act, which has already been approved by the Democratic-controlled House. Senate Republicans tagged the HEROES Act as dead on arrival.

Q2 Hedge Funds Resource Page

Q2 Hedge Funds Resource PageSimply click the menu below to perform sorting functions. This page was just created on 7/1/2020 we will be updating it on a very frequent basis over the next three months (usually at LEAST daily), please come back or bookmark the page. As always we REALLY really appreciate legal letters and tips on hedge funds Read More

The HEROES Act, championed by House Speaker Nancy Pelosi, proposes about $1 trillion in aid for state and local governments, stimulus checks of up to $6,000 per household for all with a taxpayer ID number, $200 billion for hazard pay, unemployment benefits through January 31, 2021 and more.

Referring to the provisions of the HEROES Act, Barrasso noted that House Speaker Nancy Pelosi seems to be “living in handout heaven.”

“It’s direct checks to illegal immigrants, it’s bailouts to big city and state pension plans that are run by Democrats,” Barrasso said Sunday in an interview on “Sunday Morning Futures. “We’re not going to do that.”

On the question of if the next stimulus package would include direct payments, Barrasso sounded optimistic. However, he suggested that the next stimulus checks would be targeted and limited.

“We did that once before, but that was people up to $95,000, we’re looking at a lower number there,” he said.

On who would get the next coronavirus stimulus checks, Barrasso suggested that it would be for those who haven’t yet been back to work, “certainly in hard-hit industries, whether it’s the service industry, the hospitality industry.”

Thus, as per Barrasso, illegal immigrants would not get it while lower-income people would get it.

Next stimulus package: what to expect?

Along with who would get the next coronavirus stimulus checks, Barrasso also talked about what the next stimulus package might include. Barrasso said the focus would be on “getting people back to work” and getting “paychecks back into their pockets.”

Also, he said it would focus on saving lives. This, according to Barrasso, means more testing, better treatment and a vaccine. Additionally, he also stressed the need of liability protection.

Barrasso said liability insurance is needed for healthcare workers, schools, as well as for mom and pop small businesses. He also hinted at when the next stimulus could be approved.

“There’s a consensus we need to do another bill, that’ll be in the next couple of weeks,” Barrasso said.

Further, he said there is an “urgency to get this done” owing to the deadlines approaching. Congress is currently on a two-week recess and will reconvene on July 20. Another recess is scheduled starting on August 8.

Comments are closed.