Trump's Businesses Won't Get To Use Coronavirus Stimulus Funds, Democrats Say

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The more a person makes, the smaller the check: payments would be phasing out starting at $75,000 for individuals and will end completely at $99,000.

Trump supports the measure, the White House said. People would also receive an additional $500 per child.

For real estate agents, most of whom are independent contractors, it appears the stimulus package would extend unemployment benefits to gig workers and freelancers while increasing unemployment assistance to $600 per week for four months.

McConnell said the package would rush checks to help Americans pay bills during job layoffs related to the outbreak, expand unemployment insurance and deliver emergency loans to small businesses.

Thousands of businesses have closed, throwing millions out of work. Companies would also be able to defer paying the 6.2-percent Social Security payroll tax. The massive fund would be controlled by the Treasury Department and could include bailouts to hotels, casinos, cruise lines, and the oil and gas industry. McConnell's original bill was crafted by the Republican leaders of key Senate committees, working with the ranking Democrats on those committees. Among those, it creates a Treasury Department special inspector general for pandemic recovery and a Pandemic Response Accountability Committee to oversee loans to businesses. Previously, Republicans said this would amount to $1,200 to most American adults, among other payments.

Oil Prices Up on Drop in Supply
The US Congress may vote on Wednesday on the $2 trillion stimulus package which boosted stock markets on Tuesday. West Texas Intermediate (WTI) crude futures rose 55 cents, or 2.3%, to $24.56 a barrel, a 2.3% gain.

Any corporation that accepts government loans during the term of government assistance plus one year will be banned from buying back their own stocks, a common practice used to prop up tumbling stock prices.

"The children, spouses, and in-laws of the aforementioned principals are also included in this prohibition", the document adds.

It includes a over $130 billion (€120 billion) to fund hospitals, nurses, doctors and nursing homes and unemployment compensation for workers who are laid off, the Senate minority leader said.

At the White House briefing, public health authorities said it was particularly important for people in the hard-hit New York City metropolitan area to quarantine themselves for 14 days, and for those who have recently left the city to do the same.

Speaker of the House Nancy Pelosi and Senate Democrats drew national ire this weekend when they rejected a tentative deal for a coronavirus relief package in favor of a new new bill filled with left-wing agenda items, but as of Tuesday afternoon there are signs Democrats might already regret the stunt. Two members of the House and one senator have recently tested positive for the coronavirus illness COVID-19. The second-ranking House Republican, Representative Steve Scalise of Louisiana, told his vote-counting team during a conference call Tuesday night that the best option is to accept a Senate-passed economic stimulus bill, according to Scalise spokeswoman Lauren Fine.

While there is little doubt the legislation will pass, getting Congress to act quickly will require the consent of essentially every member of Congress.

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