Senate passes $1.9 trillion COVID relief package

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>However, the reconciliation process also prevented Democrats from including a provision to increase the minimum wage to $15/hour in the legislation. Technicalities, as is tradition.


I wonder how the IRS is going to deal with a record breaking number of tax returns along with now a new round of stimulus payments. Lots of moving parts.


Am I going crazy or do people just think they see any problem as a free opportunity to loot the public at large to “bail out” and kick the can down the road another 5 – 10 years? These types of bills do nothing to curb inflation, they’re already too broad in scope (estimated length of the bill was over 600 pages), and can force people with assets into losing them via special protections that aren’t adequately defined (rent moratoriums). As usual, the top 50% of income earners are being robbed to pay for the bottom 50% of income earners that pay either very little federal taxes or none at all, and then to pay for people in between 50 and 75th percentiles that are still working.


can someone explain to me why this relief package would cause an increase in the treasury yields? in simple terms does it mean more stimulus = better economic recovery + spending on stocks rather than bonds?


Really glad they took the minimum wage provision out. $15 by 2030 would be okay but $15 by 2025 is too aggressive a timeline for already suffering small businesses to adjust to. $12 by 2025 is more reasonable or just encouraging states to pick a min wage that makes sense for them. Biden is pushing unions hard anyway and if union membership increases alongside a huge minimum wage increase, the overall unemployment rate will skyrocket.