Please leave your name and the city you are calling from. Also, social media, cspanwj is our twitter handle. Com giving thell. Basic contours of what happened yesterday. On saturday President Donald Trump signed a series of executive actions intended to extend and expand covid19 relief, including extending payroll tax collection and boosting unemployment benefits. It is not clear the Legal Authority under which the president was acting, which came at a News Conference in his in new jersey at his country club in host those are the basics. We will get to the details in a moment. From the president yesterday at this event in new jersey on why he did this. [video clip] democrats are actively blocking the things we want and what we want is good for people. Support for k12 schools so that they can open. Inc. Of that. The, direct payments at 3400 for a family of or bang. Ofs, funding for family four. Plus, funding for Mental Health care and you need that when you have so much of a lockdown. R
600 200 for the public and plan includes Business Owners tax credits and Liability Protections for, 19 issues. While we wait for issues to return to the floor a look at jobless benefits. Director of economic policies for the bipartisan Policies Center here to talk about an appointment in the coronavirus pandemic. Republicans yesterday evening unveiling a one chilean dollar Coronavirus Relief package and at the heart of the debate has been these enhanced federal autumn plummet benefits where Congress Passed back in march with extra 600 a week for republicans are now saying they need to reduce debt to around 200 a week. Explain whoo was getting this enhanced federal benefits to begin with . Sure, on appointment insurance was a program that is around any economic circumstances in the United States but in the current pandemic, Congress Expanded the program significantly when the past the cares act this spring. Cures act had about over 2 trillion in federal spending, a lot went to enhancing
Jim isto ms. Joint joining us now. This is the question of the moment. Is the momentum lost or is the economy going backwards . Jim you can almost go statebystate and tell me what the case counted as and i can tell you how much economic momentum they have lost. The biggest Economic Indicator is rising covid cases. Once that peaks nationally and thets down, we can see acceleration again. But all of these rising case numbers are spooking the consumer. And the consumer is taking this on their own, they are not waiting for their governor to shut down or rollback. When they see their area increasing they react. Inathan you see this highfrequency data and i wonder what it will look like, this is really difficult for some any people on wall street. Continuing claims looks better, initial jobless claims speaks to the stalling. How on earth do you come up with an estimate for payrolls in a couple of weeks . Going to be hard. This was designed with the idea that we are creating jobs. We have the
David w very blake burman in washington, d. C. With the latest. Reporter treasury secretary steve mnuchin, chief of staff mark meadows set to meet with the top two democrats. Nancy pelosi and shuck Chuck Schumer. It was this time yesterday that the Mitch Mcconnell released Senate Republican plan. You can fast forward 24 hours to this moment. There is very real acknowledgment from Senate Republicans in this town, even though they have that framework what they want going forward, there is still not a consensus among republicans about whether or not they stand behind this plan. Watch here. At the moment we seem to have unity and disagreement. Thats the bad news. The good news is, how can i put this . Were for the most part were gnawing on the same bone. Were just gnawing at different ends of the bone but at least it is the same bone. Reporter many issues of contention for schumer and pelosi they say the republican plan tries to quote, bully schools to get open. They take issue with tax br
On cspan, online at cspan. Org and listen live on the free cspan radio app. The commissioner of the irs testified before the Senate Finance committee on the impact of the coronavirus on the 2020 taxis and including efforts season including efforts to help taxpayers and Small Business. This is just over two hours. [gavel] sen. Grassley commissioner rettig, thank you for agreeing to testify on 2020 tax Filing Season and the irs handling of challenges that are posed because of the pandemic. The 2020 Filing Season got off to its typical start at the end of january. However since then, this Filing Season has been anything but typical. As a result of the National Health emergency stemming from the ongoing pandemic, almost all regular tax filing and tax payment deadlines have been extended. This includes the individual and Corporate Income tax filings and payment deadlines which were pushed back from the normal april 15 to july 15. There is some rumors it might be extended again. I dont know.