Jake Tapper: “It’s not all bad news”. There’s no way of knowing the false sense of security that Trump’s declaration created one month ago, that “15 cases will soon be zero”.
The Trump goal remains reelection, if only to evade indictment, and the key is trying to resurrect the economy, even as he’s manufactured the possibility of an “Easter miracle” that will stimulate new infections rather than the economy.
Ultimately the third relief package, now $2 trillion dollars is mainly corporate giveaways, even as Democrats put in worker relief and some oversight. As though bailing out for-profit colleges was a national necessity, stabilizing the economy in spite of Trump’s incompetence might still win the day.
WASHINGTON — Restaurants and retailers will get a tweak to federal tax law they have been seeking for more than a year that could save them $15 billion. Community banks are being granted their long-held wish of being freed to reduce the amount of capital they have to hold in reserve.
And for-profit colleges will be able to keep federal loan money from students who drop out because of the coronavirus.
Tucked into the fine print of the largest bailout in United States history — a $2 trillion federal stimulus package agreed to by congressional leaders and the White House early Wednesday in an effort to reduce the economic devastation of the coronavirus outbreak — are a range of provisions that stand to benefit specific industries and interest groups.
Even the fine print in a near-final version of the 619-page bill has fine print. Democrats proudly announced that they had won agreement on language to block President Trump, other government officials and their families from receiving assistance from a $500 billion fund to be administered by the Treasury Department.
But it turns out that Mr. Trump’s companies would not be barred from benefiting from other elements of the bill intended to help broad swaths of American business.
For example, certain hotel owners, even those employing thousands of people, will be eligible for small-business loans, a provision that could potentially benefit Mr. Trump’s company. The Trump Organization could also benefit from the $15 billion change to the tax code won by restaurants and retailers.
More giveaways in the name of what….
The Senate bill, unprecedented in its size and scope, would send $1,200 checks to many Americans, create a $367 billion loan program for small businesses, and establish a $500 billion lending fund for industries, cities and states. Lawmakers and the White House were bombarded with lobbyists and special interest groups seeking assistance in the package, and the legislation more than doubled in size in its final days.
The RWNJs at the Federalist have been promoting COVID-19 parties, because they think that infecting more people will create immunity.