Are There Other Reasons For The Plans
Analysts say companies have reasons outside of the tax bill to be re-thinking worker benefits.
The US unemployment rate is now hovering around 4.1% – a level last seen in 2000 – putting pressure on firms to keep workers happy.
But it is also clear that self-promotion and political calculus are driving some of the announcements.
“Why didn’t they just tell their workers privately?” says Laurence Kotlikoff, an economics professor at Boston University, who described some of the announcements as “implicit back-scratching” for the White House.
“They’re making a big deal of this to serve some other purpose, maybe getting the country to like their product or getting the government to lay off a bit.”
Banks represent more than a third of the companies with announcements on the Americans for Tax Reform list. That sector is among the biggest beneficiaries of the tax changes, and also expects lighter regulations.
Many companies, however, were already paying below the 35% headline rate.
Professor Kotlikoff says that suggests firms are making their decisions due to sentiment – not policy changes. Those moods can shift quickly, he warns.
Are Inmates Still Eligible For The $600 Stimulus Check
The bill text doesnt specify stimulus payment restrictions for people who are incarcerated so they likely are. When the CARES Act was passed, the IRS moved to block people in prison from receiving stimulus checks, but a judge ordered the Treasury and IRS to distribute payments to them.
Incarcerated people who filed a tax return in 2019 will likely receive a payment by mail or direct deposit. People who didnt may need to work with their facility to complete a 2019 return and submit it to the IRS.
A Thousand Dollars For Everyone
Sen. Mitt Romney, R-Utah, said this week that he wants the government to send every adult $1,000.
Details on how big the checks the Trump administration hopes to deploy have not been disclosed.
The Treasury Department is proposing sending two rounds of payments to taxpayers on April 6 and May 18, NBC News reported on Wednesday. Both checks would be the same size. How much you receive would be determined by your income and the size of your family, according to the report.
Of course, any plans would need a green light from Congress.
“The basic idea of getting money into the economy very quickly is a good idea,” said Leonard Burman, institute fellow at the Urban Institute, a non-partisan think tank, and co-founder of the Tax Policy Center.
It is also an improvement over potential payroll tax cuts, another idea that has been touted by the Trump administration and others in recent weeks.
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Is Trump’s Statement A Good Thing For The Public
Earlier versions of a second relief bill had omitted a direct stimulus payment completely, so the $600 that’s currently on the table is an improvement in that regard. But given that both Democratic and Republican lawmakers had previously seemed to agree during earlier negotiations that another batch of $1,200 payments was necessary, the $600 that was settled on does come as a bit of a blow.
As such, the fact that the president is trying to put more money directly into the bank accounts of those who need it is, on the one hand, a good thing. The concern, however, is that his opposition to the bill will result in a delay, thereby keeping Americans waiting on relief even longer. And then there’s the little matter of a government shutdown to worry about, which could happen next week if Trump doesn’t sign the proposed legislation.
Of course, if the bill is signed as is, with $600 stimulus checks in play, getting additional money into Americans’ pockets as a separate relief measure later could prove difficult. Trump’s $2,000 proposal could do a lot of good — if lawmakers are able to move on it quickly. At this point, the soonest the public might see relief is the first part of January, and given the way so many people are struggling, even a modest delay could be catastrophic.
Are President Trump’s Tax Cuts Helping Workers
Business reporters, New York
It is bonus season in America – and this year, companies are cutting some workers special cheques.
At Disney, 125,000 workers will receive a $1,000 one-time bonus. Alaska Airlines said 23,000 of its staff would get $1,000 awards, on top of their usual incentive system. And about 60,000 employees at Fiat Chrysler Automobiles are due to take home $2,000 extra.
Those companies are just three of the roughly 250 firms that have announced bonuses, pay increases, more generous benefits or US investments, citing tax cuts the US passed in December, according to Americans for Tax Reform, an organisation that lobbies for lower taxes.
All told, the group counts at least 3 million Americans due for some kind of boost from employers as a result of the overhaul, which slashed the corporate rate from 35% to 21%.
The announcements have reignited debate over whether the controversial law – estimated to cost a total of $1.5tn from 2018 through 2027 – is good for the average American.
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How To Sign Up For Trump Bonus Checks
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Proposal B: $1200 Back
Representative Kevin Brady proposes two $600 weekly back-to-work bonus payments.
Brady describes his Reopening America by Supporting Workers Act of 2020 as a $1,200 hiring bonus. This proposal indirectly extends the CARES Act unemployment benefits into the second week of August.
Like Senator Portmans $450-a-week idea, Bradys $1,200 benefit is on top of your weekly earnings. In its current form, recipients would be able to claim the bonus if they return to work before July 31st.
The total potential costs of Bradys proposal are likely less than Portmans plan that has a more open-ended benefit window.
This bill also only helps those who are unemployed and receiving benefits. The bill could be structured in a way that offered a hiring bonus to re-hired workers, similar to the various business assistance programs have extended forgivable loans as a way of supporting small business. Businesses could pay their employees the bonus as part of accepting the forgivable loan.
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How To Collect Trump Bonus Checks
Getting started with Trump Bonus Checks is apparently as easy as 3 simple steps:
Step 1 Set Up Your Account
The first step to Trump Bonus Checks is to get your account set up. To do this you just need an internet connection according to their website. It takes about 5 minutes to do this first step and around 15 minutes if you arent very good with computers.
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Step 3 Collect Your Checks
The final step is to collect your checks. Not really a step is it? But hey ho if it works its the best part of it all actually getting paid.
Bonus Quote Of The Day
November 4, 2021 at 7:34 am EDT By Taegan Goddard
This is 2009 all over again. The only benefit they have now over 2009 is knowing just how bad it can get.
Former Rep. Steve Israel , quoted by Politico, comparing the political environment to when Democrats lost more than 60 House seats in 2010.
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About Political Wire
Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.
Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.
Goddard is also co-author of You Won – Now What? , a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard’s essays on politics and public policy have appeared in dozens of newspapers across the country.
Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.
Praise for Political Wire
Chuck Todd, host of Meet the Press
Stuart Rothenberg, editor of the Rothenberg Political Report
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These Are The Americans On Track For Another Stimulus Check
The next stimulus payments will be going to a far narrower group of people than the last payments. Specifically, the money will be available only to teachers in certain states.
Georgia, Michigan, and Florida are currently the first three states to make concrete plans to send a special bonus payment to teachers. These states have already used federal stimulus money that was made available as part of COVID-19 relief efforts to send out these payments, or they will be doing so soon. Specifically:
- Georgia sent out around 230,000 “retention bonuses” valued at $1,000 each to K12 teachers and public school staff. The money for these bonuses was provided by the federal government, which sent Georgia $660.6 million in stimulus aid.
- Florida will be sending out $1,000 payments to an estimated 175,000 teachers and 3,600 principals. The payments are not available to other school staff. The money is a “thank you” bonus and it will be distributed as soon as next month. It was slated to come from federal stimulus aid that Florida received, but a dispute over whether this is an eligible use of the funds may necessitate getting the money from elsewhere in the state’s budget.
- Michigan sent out a total of $73 million in stimulus money at the end of February. This included $500 in hazard bonus pay for eligible teachers and $250 in hazard bonus pay for school staffers.
Do Stimulus Checks Reduce The Risk Of Recession
For some, such money is spent quickly, resulting in a short-term lift. But with several businesses closed and social interaction outside the home being minimal, an immediate boost on a local economy to be minimal.
When people are afraid, they dont spend, chief U.S. economist of Oxford Economics Gregory Daco told USA Today.
Consistent cash flow is more valuable. The stimulus package includes expanded unemployment insurance for workers. **
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Return To Work Bonus Instead Of Unemployment
Trump also said he prefers a return-to-work bonus over extending supplemental unemployment benefits. Its unclear whether a return to work bonus would be in addition to, or in lieu of, a second stimulus check. Sen. Rob Portman proposed a return to work bonus, which would pay you money to get a job if youre unemployed or return to work if you are furloughed. The proposal has emerged as an alternative to extending certain unemployment benefits beyond July 31, 2020. That said, the $600 a week unemployment benefits were slated to expire on July 31. However, these unemployment benefits will now expire one week early. This means that states could stop paying unemployment benefits as early as July 25 or July 26.
Some, including Trump, have argued that the current supplemental unemployment benefits through the Cares Act pay some people more money than they earned when they were employed. Also it was an incentive not to go to work, Trump said during the interview. Youd make more money if you dont go to work. Thats not what the countrys all about. We want to create a tremendous incentive for people to want to go back to work. Under Portmans proposal, you can earn your regular wages plus $450 a week, if you are employed. A return to work bonus could be supported by both Senate Republicans and the White House in the next stimulus bill.
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What Are Trump Bonus Checks
I originally covered Trump Bonus Checks in late 2019 however the recent global situation regarding COVID-19 has caused people to look more into how to sign up for Trump Bonus Checks.
Funnily enough the Trump Bonus Checks website has been created by the same people who created those videos too.
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Why Are Teachers And School Staff Getting More Stimulus Money
Some state governments and local school boards have made the decision to send stimulus money to teachers as a thank you for the efforts they made during the COVID-19 pandemic. Many teachers risked exposure by offering in-person instruction, while many others had to scramble to transition to online coursework during an unprecedented global public health crisis.
Although some question whether this is an appropriate use of federal aid, there’s reason to believe that many other states will follow the lead of Georgia, Florida, and Michigan. In fact, a bill in Hawaii would’ve provided teachers with a one-time $2,200 payment, but the governor vetoed it. And California, Colorado, Tennessee, and Texas have also considered providing stimulus payments to teachers.
For those in the education field, it’s a good idea to keep tabs on whether your state authorizes another stimulus check for you. And if you aren’t a teacher, you should also see what programs your state may be offering that you could take part in. States received millions of dollars in federal coronavirus relief funds, and this money will need to be spent over time to help citizens.
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