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Republican Party Economic Stimulus Proposals


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    Talks of a new round of stimulus measures have been ramping up lately, with President Trump and Congressional Republicans offering conflicting messaging as to whether another round of direct payments to the American people will be included in it or not.

    The House of Representatives passed the HEROES Act, which included another round of $1,200 checks plus $500/dependent for most Americans back in May of this year, but the Senate has so far refused to debate that legislation or vote on any counter proposals of their own.

    However, there have been a number of ideas floated by a prominent Republicans, including President Trump, that could serve as the starting point for negotiations.

    President Trump has repeatedly, albeit vaguely, expressed his approval for a second round of direct payments to Americans. Trump had waffled on whether or not he is in favor of a second check, but that seemed to change recently to a hard "yes" with Mark Meadows, the White House Chief of Staff, unequivocally saying President Trump supports another round of stimulus checks:

    "I think the president has been very clear that he's supportive of another stimulus check. And yet at the same time, we want to make sure we're addressing things in a real systemic way."

    - White House Chief of Staff Mark Meadows

    President Trump's support (and pressure on his own party) for another round of direct payments to Americans would be vital because many Senate Republicans have publicly voiced their hesitancy or outright disapproval of another round of direct payments and instead favor more business friendly ideas like a payroll tax cut, a "return to work bonus" to persuade people to get back to work, and a tax credit to entice families to go on vacation.

    What many of these proposals envision is a "return to normal" mindset, which, as we are currently witnessing in the South and West, may not be feasible anytime soon. So, if we can't "get back to normal" anytime in the near future then we likely won't have any other choice than to help prop up the economy (and the American people who drive it) with another round of direct payments to help get us through these unprecedented times.

    If I were a betting man, I would bet that Senate Republicans are hoping to extract some business friendly concessions from House Democrats in exchange for the green-light on another stimulus check. My guess is the House will go along with that, so long as the concessions aren't so outlandish that they are seen as a poison pill. When all is said and done, I have a strong feeling the vast majority of Americans will be getting another $1,200 (or more) by sometime in mid-August.

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    I actually think both the "return to work bonus" and vacation tax credit are worthy of discussion, but only in a broader package of stimulus measures.

    For starters, the vacation tax credit would be great for people and families that can afford to vacation right now since it would be a credit on your 2020 taxes. I'd be happy to go on vacation and charge the government, but that's because I can personally afford to go on vacation now. Millions of Americans don't have that luxury at this time.

    The return to work bonus is also a great idea ... for areas of the country that are able to safely open up their economies.

    My hope is that the Senate seriously considers the House HEROES Act and offers some amendments to it that can be hammered out in conference between the two chambers. It's a good bill and the Senate has ample opportunity to put their stamp on it if only they were up to the task.

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    I think a 2nd stimulus check is coming, but like Forbes suggests, might be less than the previous $1200 one, and likely less people will be eligible.

    Second Stimulus Checks May Be Less Than $1,200

    I don't like the idea of cutting it off after you $40k, but I at least understand the logic. You are trying to drop the price tag of the next round of stimulus from the proposed $3 trillion to perhaps more reasonable $1.3 trillion. So cutting by a little more than 50%.

    I think that's the negotiation that will soon witness. There should be another check coming, but for how much and who qualifies I think is still greatly up for debate.

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    WyattTown Wrote: I think that's the negotiation that will soon witness. There should be another check coming, but for how much and who qualifies I think is still greatly up for debate.

    My main concern about having a blanket cutoff of whatever number you can come up with is the simple fact that there are plenty of people out there who had a banner year in 2019 and are unemployed right now. When Congress bases who gets a check off of a prior years tax returns then a whole lot of people will fall between the cracks.

    I understand it's not politically feasible, but I think the best way to get money to people quickly is to simply give everyone a check. Those who don't need it and wish to donate it can do so, but this is the only way to ensure everyone who needs the help will get it as quickly as possible.

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    Stimulus Package Update: Republicans Unite On Second Stimulus Check, Balk Over Payroll Tax Cut

    McConnel said "I'm going to introduce a bill in the next few days that is a starting place, that enjoys fairly significant support among Republican Senators - probably not everyone."

    Article goes on to say GOP seems to be by and large FOR another stimulus check. So that's good. But no news on the parameters. I think they lower the income thresholds. Before it was $75k then fully phased out at $99k. So that's the watermark. No way they give everyone a check, unfortunately, even though like said above its the surest way to avoid people falling through the cracks.