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Coronavirus Relief Deal Reached


Brad_ATX

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3 hours ago, Brad_ATX said:

Looks like both sides got stuff they wanted.  Should be easy to pass through in the next 24-48 hours.

https://apnews.com/db4a954801ab08b492aedddfcf7132c8

They finally could reach an agreement on something.  We haven't seen this in years and I had lost hope it was even possible anymore.  

May this be the beginning of something good.  

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I'm in the thick of it now, reviewing the language and getting stuff out to my clients. A couple of notes:

  • Passage is likely, but there's still some procedural hurdles to get through. Schumer and McConnell are briefing their members now and trying to get everyone on the same page. 
  • Votes in the Senate haven't been scheduled yet, but we should hear soon about time agreements etc. I expect a vote today
  • House members do not want to return to DC. Pelosi is working on trying to get agreement to have it approved by voice vote which would allow any Ds and Rs who don't want to say "yes" to be able to voice disapproval, but she is trying to get agreement to not have a roll call vote which would require everyone to travel back to DC-- voice vote would only require a handful of members to be present
  • The members on the extremes aren't happy which usually means its a decent deal

After this passes, expect Congress to be out through Easter. Until then, there will be discussions on packages 4 and 5-- this isn't done yet.

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Now there are technical problems with the bill text. This may take a few hours to get straightened out. I wouldn't look to see any votes until this evening at the earliest.

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19 minutes ago, sandyclawedtiger said:

Any idea who will and what payment qualifications are?  Can't find anything. Any resources would be helpful. Thanks.

You talking about the stimulus checks?

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15 minutes ago, Brad_ATX said:

You talking about the stimulus checks?

Yes. Sorry I didn't make myself clear. I have some elderly friends with tax issues that are concerned. I've been asking them to reach out to more knowledgeable and more resourced than me. Any help appreciated.  Thanks again.

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20 minutes ago, sandyclawedtiger said:

Yes. Sorry I didn't make myself clear. I have some elderly friends with tax issues that are concerned. I've been asking them to reach out to more knowledgeable and more resourced than me. Any help appreciated.  Thanks again.

Here you go.  Pretty detailed review.

https://fortune.com/2020/03/25/stimulus-check-coronavirus-relief-bill-when-checks-sent-who-qualifies-how-much-retirees-taxable-direct-payment-faq/

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