Democrats Propose Huge COVID-19 “Bazooka”
Wow, the Democrats have proposed significant stimulus in their March 18, 2020 memo to the House of Representatives. Some highlights include:
- $2,000 for each adult and $1,000 for each child per month
- Suspension of credit payments
- Credit facility available to help reimburse creditors
- Suspend all negative credit reporting
- Prevent debt collection
- $5 billion in support for homeless
- Ban all evictions
- Rental supports
- Forbearance for certain mortgages on rental properties
- $10 billion for community block grants
- $300 million to assist elderly households
- $290 million for fair housing enforcement
- Assistance for small business including, suspension of commercial rental payments, additional grants, tax rebates and CDFI funding
- Ban on stock buybacks
To read the full House Democrat report please click here.
This story is developing, check back for more updates soon.
