ABOUT THIS BLOG

I shall post videos, graphs, news stories, and other material there. We shall use some of this material in class, and you may review the rest at your convenience. You will all receive invitations to post to the blog. (Please let me know if you do not get such an invitation.) I encourage you to use the blog in these ways:
To post questions or comments about the readings before we discuss them in class;
To follow up on class discussions with additional comments or questions.
To post relevant news items or videos.

There are only two major limitations: no coarse language, and no derogatory comments about people at the Claremont Colleges.


Search This Blog

Thursday, March 26, 2020

Who got special deals in the stimulus and why they got them

Travel agents' relief

Special deal: The ability to apply for $25 billion in loans and loan guarantees reserved for the airlines.

Better, faster sunscreen

Special deal: Tucked in the final bill is language ensuring that the FDA reviews newer and more novel ingredients for over-the-counter sunscreen products in a timely fashion.

Equity for small states

Special deal: The agreement would provide $150 billion for state and local governments, with no state getting less than $1.5 billion. States are clamoring for help as tax revenue evaporates and unemployment claims climb by the tens of thousands every day.

Job security for military brass


Special deal: The rescue package permits Trump to extend the terms of up to seven senior military leaders: the Air Force chief of staff; the chief of space operations; the chief of the National Guard Bureau; the directors of the Army and Air National Guard; and the chief of the Army and Navy Reserves. Many of those top officers' terms are set to expire later this year. The provision would permit Trump to keep these current leaders in the job until successors are confirmed.

A win for the credit reporting industry

Special deal: Consumers wouldn't get a negative credit report if they have an agreement with a lender to delay payments or make partial payments. That was a way to stave off a total ban on negative credit reports during the crisis. The credit reporting industry contended a total ban would have been highly damaging to its products.

Student loan tax boon


Special deal: The final package creates a new tax benefit for student loan borrowers whose employers help them pay off their debt. Under the bill, a company could pay up to $5,250 of an employee’s student loan payments each year on a tax-free basis.

Casinos roll the dice and win

Special deal: Casinos pushed for provisions to make sure they wouldn’t be blocked from federal aid. They're allowed to apply for portions of the $350 billion in Small Business Administration loans if they’re a small business and need less than $10 million. Larger casinos can apply for $454 billion in loans backed by Treasury.

Free video visitation in prison


Special deal: The legislation will mean free video conference and phone calls for inmates during the pandemic, if Attorney General Bill Barr agrees.

Harbor dredging help

Special deal: The deal includes language making it easier for Congress to dole out money for harbor dredging by exempting from discretionary spending caps the Army Corps of Engineers funding provided through the Harbor Maintenance Trust Fund. The provision is a boon for ports that need dredging work, like the one in Mobile, Ala., in Senate Appropriations Chairman Richard Shelby's (R-Ala.) home state.

Relief for farmers

Special deal: The stimulus provides $9.5 billion in emergency aid for the agriculture industry and replenishes $14 billion in spending authority to the Agriculture Department’s Commodity Credit Corp., a Depression-era financial institution set up to stabilize the farm economy — the same USDA agency sending trade bailout payments to farmers. Producers ranging from dairy farmers and cattle ranchers to fresh fruit and vegetable growers are eligible.

No comments:

Blog Archive