Congress should vote a three-month extension of Fed UI benefits in the CARES Act

[stopbush]

That would take the most-contentious issue off the table for now. They can then spend the next two weeks debating and passing bills to fund money for school reopenings, plus additional funding for the states and small businesses. Get something in place to fund those things through at least the remainder of the year.

Take up the unemployment issue again in Sept after Congress has taken their August break and heard from their constituents.

[flamingdem]

1. Kudlow wants the payroll tax cut

and no extension. Mnuchin seems to be halfway sane and will push for some kind of extension providing he can enrich his buddies again along the way.

[stopbush]

2. There comes a point where the voices of the hundreds of Ds in Congress

and hundreds of economists who are urging continuation of the expanded Fed UI benefits should outweigh the single voice of a HACK like Kudlow. You know, the guy who said the administration had the virus under control? The guy who has never been right about anything that has to do with the economy?

[Sherman A1]

3. Cutting the payroll tax is an "interesting"

And useless concept. If folks aren’t working, there is no payroll tax to collect.

But, I’m just a retired grocery guy, so what do I know?

[stopbush]

6. People who are out of work need the most help.

How does it help them to cut the payroll tax when they are no longer on the payroll?

The payroll tax cut is a direct assault on the funding mechanism for Social Security.

[beachbumbob]

4. not going to happen unless Pelosi caves on shield law and payroll tax cut and if she does,

it flies in the face of what we stand for as democrats.

[stopbush]

5. Pelosi can make the case for the $600 extension by using the Rs stated position

Last edited Tue Jul 21, 2020, 12:35 PM - Edit history (1)

against them:

1. The $600 does not provide a disincentive to return to work. The administration was crowing about the number of people who have returned to work. So where is the disincentive? You can’t have it both ways.

2. Yertle said he wanted to take a wait-n-see attitude about the number of unemployed and the unemployment trends. Well, the trend is that 1.5-million Americans continue to lose their jobs every week, and with the rash of states deciding it’s time for Shutdown 2.0, more workers will be returning to the ranks of the unemployed. In addition, economists are saying that not continuing the $600 benefit will cost the economy another 5-million jobs as the lost buying power that comes as a result of ending the benefit ripples through the economy.

[flamingdem]

7. If the repugs can talk their way out of an extension

it will bite them in November. Am guessing they'll cut it in half. That won't be enough to stop an avalanche of defaults on rents and mortgages though.