Discover and read the best of Twitter Threads about #caresact

Most recents (24)

The federal government *CAN* help the economy recover and ensure that recovery is broad-based and equitable. @equitablegrowth's @dsmitch28 lists 21 actionable policy recommendations to combat the #coronavirus #recession 👇equitablegrowth.org/twenty-one-pol… (1/x)
1. We need #UnemploymentBenefits! UI helps workers weather an economic crisis while keeping demand for goods and services from plummeting. The emphasis on work disincentives reflects racist biases against low-income workers of color. equitablegrowth.org/factsheet-unem… (2/x)
2. We need to make #UnemploymentBenefits better, by addressing structural flaws in the system, as @alixgouldwerth writes: equitablegrowth.org/fool-me-once-i… (3/x)
Read 23 tweets
1.#congress is playing a very sick game w/ #covid uneployment #healsact

The first part begins w/ the fact that they are at this point where there will be lapse w/out a decision, the limbo they create is tantamount to psychological warfare

0 indication it would be over 7/31
2) #congress is playing a very sick game with #covid unemployment #herosact #caresact #healsact

In many case people have jobs but are not being allowed to work due to mandates by their state restrictions or the industry.

They are not closing this it is being forced upon them.
3) #congress is playing a very sick game w/ #covid19 unemploymemt

The circumstance that they are trying to prevent is one they created in the first place by being so short sighted they could only create a one size fits all solution where many were making more than when working.
Read 24 tweets
1/ Rule of the day: before you claim that the supplemental $600/week #UnemploymentInsurance payment authorized by the #CARESAct made people reject job offers in favor of staying at home, please learn how state systems actually work. #ExtendUI
2/ In most states, including North Carolina, a UI claimant who is recalled to work & refuses to go back typically is disqualified from ANY further benefits. There are some good cause exceptions tied to #COVID19 , but they are narrow & require the claimant to make a case.
3/ And a claimant who refuses an offer of "suitable work" also typically is disqualified for any further benefits. Suitable work is based (partly) on the person's prior earnings. Again, there may be some COVID-related exceptions. des.nc.gov/need-help/covi…
Read 11 tweets
1/ A timely call from @NC_Governor on Congress to extend the $600/week supplement to #unemploymentinsurance authorized by the #CARESAct. In NC, this week currently is the last one for which the supplement is payable.
2/ According to @NCDES, some 800,000 people in North Carolina have received the $600/week supplement known as Pandemic Unemployment Compensation (PUC) since March 15. That is almost as many people as live in Charlotte, which is the state's most populous city.
3/ Since March 15, according to @NCDES, a total of $6.3 billion has been paid out in #unemploymentinsurance compensation here in NC. The PUC program is responsible for $4.3 billion of that amount (68% of the total).
Read 10 tweets
1/ In the week ending 7/18, North Carolina received 26,323 initial claims for regular #UnemploymentInsurance, up from 28,108 the week before. A year ago, the total number of initial claims was 3,264. #NCeconomy
2/ Additionally, North Carolina received 19,821 initial claims for the new Pandemic Unemployment Assistance (PUA) program, which covers certain workers normally ineligible for unemployment insurance. The figure a week earlier was 20,563. (NC began accepting PUA claims on 4/24.)
3/ Last week, North Carolina received 319,057 continuing claims for regular #UnemploymentInsurance, along with 197,123 continuing claims for PUA. #NCeconomy
Read 24 tweets
1/ In the week ending 7/11, North Carolina received 26,861 initial claims for regular #UnemploymentInsurance, down from 27,937 the week before. A year ago, the total number of initial claims was 3,397. #NCeconomy
2/ Additionally, North Carolina received 20,563 initial claims for the new Pandemic Unemployment Assistance (PUA) program, which covers certain workers normally ineligible for unemployment insurance. The figure a week earlier was 23,606. (NC began accepting PUA claims on 4/24.)
3/ Since the roll out of the PUA program, the number of new PUA claims in North Carolina has rivaled the number of initial claims for regular benefits. This illustrates how many workers normally are excluded from the regular program. #NCeconomy #ncpol
Read 21 tweets
I, too, have been amazed about how all the outrages about the PPP program have been directed toward the wrong elements of the program & not the actual things that should trigger outrage.
The program's purpose was to help eligible businesses retain workers on their payrolls, which is a superior long-term option to allowing folks to become unemployed. But people instead want to focus on "deserving" and "undeserving" firms based on their industrial preferences.
A big problem was how the PPP program worked at cross-purposes with the #UnemploymentInsurance expansions authorized by the #CARESAct. One set of incentives pushed employers to lay off workers, another to keep them employed. This was a real "mixed message" to send."
Read 8 tweets
1/ In the week ending 7/4, North Carolina received 27,202 initial claims for regular #UnemploymentInsurance, down from 29,580 the week before. A year ago, the total number of initial claims was 2,679. #NCeconomy
2/ Additionally, North Carolina received 23,606 initial claims for the new Pandemic Unemployment Assistance (PUA) program, which covers certain workers normally ineligible for unemployment insurance. The figure a week earlier was 27,134. (NC began accepting PUA claims on 4/24.)
3/ Since the roll out of the PUA program, the number of new PUA claims in North Carolina has rivaled the number of initial claims for regular benefits. This illustrates how many workers normally are excluded from the regular program. #NCeconomy #ncpol
Read 20 tweets
The #SFBudgetAppsCom meeting has started!

They're starting with item 1, a review of the budget process in general.

The SFPD budget is item 2. Our CTA for that: indivisiblesf.org/call-scripts/2…
They're talking about money they do and don't have, particularly #CARESAct funds (@SenKamalaHarris @SenFeinstein) and ERAF. #SFBudgetAppsCom
Read 316 tweets
Last week, I stumbled upon an article about a company called Frank that created an "application” for college students to get the #CARESAct emergency grants. My first reaction was “umm, what?” I had to know more. What I found was troubling. #FAchat 1/ newamerica.org/education-poli…
The reason this caught my eye was that I didn’t know how one could create an application for these grants. Congress gave schools a lot of discretion here. Every school gave this out differently. Some had applications, others just gave a flat amount. 2/
But there's a lot of misleading info. An outdated stat implies a lot of $ is left & they say students can get up to $5k & are leaving a lot of $ on the table. But we know that a lot of schools have already used most, if not all, of this money. And most aren’t giving $5k! 3/
Read 12 tweets
Our new commentary: The New Surge Renders Thursday’s June Jobs Numbers Meaningless, Almost Ensures Federal Relief in July #muniland hilltopsecurities.com/media/3871/mun…
The June change in #nonfarmpayrolls and the new #unemploymentrate are meaningless. The new surge in infection and resultant policy adjustments are going to weigh heavily on near-term economic results. July numbers will be a better indicator. #muniland
#COVID19 infections are surging. For the week of June 18, the number of weekly confirmed cases of COVID-19 in the U.S. set a record: 218,248. It is possible we see over 250,000 confirmed cases for the week of June 25. #muniland
Read 7 tweets
What I have to say is very important and I ask you to read this all the way through.

About half of our district is the Northern Neck and Middle Peninsula. This is where our aquaculture is and it is very strong.

#aquaculture
#NorthernNeck
#MiddlePeninsula

(1/17)
This area makes its living from the hard labor of our Watermen. They need our support now more than ever. Our Watermen catch and raise marine life from rockfish to oysters. They are small businesses that keep the region going.

#watermen
#SmallBusiness

(2/17)
They keep many more small businesses thriving. Restaurants, local grocery stores, roadside stands and more sell the fresh catches they bring to us.

#grocerystores
#freshfood

(3/17)
Read 17 tweets
I was happy to hear about the #MSLP initiative by the @federalreserve as part of the CARES Act - money that could help businesses weather these uncertain times.

It was announced 3 months ago though and keep getting changed before even going live. /1
However, after all the delays and revisions, @federalreserve and @BostonFed finally announced yesterday that they are accepting lender registrations, and encouraging lenders to start making the #MSLP loans.

But who are these lenders? /2
Well the Fed says that any federally-insured deposit institution is an eligible lender.

So FDIC insured banks, credit unions, and savings and loan institutions can all participate.

Awesome! So just contact your bank right?

Well not so fast /3
Read 13 tweets
Today, we have:

- 90,000+ American lives lost to #COVID19
- Depression-level unemployment across the U.S.
- Persistent PPE shortages

Tomorrow, we'll see:

Senate Republicans waste @HSGAC's time and resources on an unrelated political errand for President Trump.

THREAD 👇
For those who don't know, @HSGAC is the Senate’s primary oversight committee charged with studying 'the efficiency, economy and effectiveness' of ALL agencies across our government.

But, with that broad jurisdiction, in the middle of a pandemic, we're chasing conspiracy theories
While millions find themselves in dire straits, Chairman Johnson is using this committee to push Russian disinformation.

I've also served as @HSGAC Chairman. There's no shortage of legitimate issues that this committee has a responsibility to examine right now. Here are a few:
Read 23 tweets
We're live with ASMP's Wednesday Webinar. Join us here or live on @Facebook facebook.com/asmpnational/v…
Mike Klipper is updating us on the additional relief legislation now being considered by the House. Dems and Reps are "very far apart." The President has dubbed the legislation "Dead on Arrival." #HeroesAct
As always, our disclaimer, courtesy @MaddreyPLLC
Read 57 tweets
➡ CHILDCARE: Our goal is to have the safest child care system in the nation. One that nurtures the health and continued growth and development of our children and one that protects the health and safety of our child care workers and teachers. #StaySafeOhio
Moving forward, childcare is going to look different for children, parents, and teachers as long as #COVID19 is around. But we must get this right, or we run the risk of exposing more individuals. #InThisTogetherOhio
Beginning Sunday, May 31st childcare providers in #Ohio will be able to re-open, with reduced numbers of children in each classroom and intensified cleaning and handwashing practices. #ResponsibleRestartOhio
Read 8 tweets
Like many, I’ve had some extra fee time these days... After rebinging @theofficenbc and #theofficereunion I was inspired.

A thread of Trump’s handling of the #coronavirus (#COVID19) pandemic, as told by Michael Scott. #TheOffice
Way back in 2018, Trump decided it was a good idea to disassemble the #Pandemic Response Team – created by the Obama administration in case there was “an airborne disease that is deadly.” This can’t go wrong! #thiswaspreventable
Trump does nothing to replace this. He plays golf and insults people on Twitter – just the normal things that presidents do right?
Read 52 tweets
1/

Some MAJOR #PPP news to pass along. Earlier today @USTreasury updated the FAQs on its site (AGAIN!), by creating new Q&A #46.

In short, Q&A #46 creates a safe harbor for PPP loans of $2 million or less when it comes to the good-faith certification...

home.treasury.gov/system/files/1…
2/

Just to be clear, we're talking about the certification that a borrower must make that says:

"current economic uncertainty makes this loan request necessary to support the ongoing operations"

In short, Q&A #46 the safe harbor says that if you received a loan of...
3/

...$2 million or less (including loans made to affiliated companies), the certification will be deemed valid. Period. End of story.

The logic behind this, per Q&A #46, is to "promote economic certainty" for borrowers and to...
Read 12 tweets
Live tweeting ASMP's Friday Town Hall. @LindseyBest in CA asking @MaddreyPLLC about the problem of jobs shot in 2019 paying in 2020. Maddrey: "This is related to the #W2/#1099 problem. We've read & read & there's no clear guidance. Now we're calling them. We'll get an answer."
Now on to the featured attraction...
First things first...
Read 46 tweets
Turns out that Brentwood School, which Steven Mnuchin & Michael Milken's kids attend has rec'd PPP $.
Who could have told them to apply
Who could possibly have made sure this happened..
#SaturdayMorning
latimes.com/california/sto…
Late yesterday, after this story broke, Mnuchin tweeted:
“It has come to our attention that some private schools with significant endowments have taken #PPP loans. They should return them. @SBAgov #CARESAct #PPPLoans
Can't make this stuff up!
And then Trump chimed in...
He's worried that his base will, for once rightly, take offense at the rich people associated w his admin getting preferential treatment while they struggle.
#SaturdayMorning politico.com/news/2020/05/0…
Read 3 tweets
1/ Today at noon CT, @TexasTribAbby will speak to U.S. Representative Sylvia Garcia (@RepSylviaGarcia) about the federal response to the #COVID19 outbreak: bit.ly/3eSmD54

Follow this thread for some discussion points. #ttevents
2/ As the threat of #COVID19 spread in the country, Congress passed into law the #CARESAct, a massive spending bill aimed at mitigating the health and economic impacts of the virus: bit.ly/3aGoira
3/ Last month, @TexasTribAbby reported that the #CARESAct, which is estimated to cost taxpayers over $2 trillion, aimed to reinforce the medical response to the pandemic, keep businesses afloat and bolster the U.S. economy: bit.ly/2xhDNbx
Read 6 tweets
1/ Tomorrow at 12 p.m. CT, the Tribune’s @viaalana will speak to UT System chancellor J.B. Milliken (@jbmilliken) about the #COVID19 pandemic’s impact on higher education.

Follow this thread to see what we’ll discuss. #ttevents bit.ly/2VzKca9
@viaAlana @jbmilliken 2/ The @utsystem is uniquely positioned to respond to the virus — it educates more health care workers than any other #highered system in Texas.

Here’s how @UTAustin's McLellan Lab played a key role in coronavirus vaccine development: bit.ly/2W6DRTX
@viaAlana @jbmilliken @utsystem @UTAustin 3/ Last month, @ShannonNajma reported on how faculty and staff across the UT System were transitioning to online instruction and adjusting to address the needs of students who depend on campus services: bit.ly/2W8E3SG
Read 6 tweets
Essentially, the meat/poultry industry took no action to protect workers from #COVID, churning through them as though they’re disposable. Now that plants are shuttering due illness and death, Trump issues an order forcing workers back on the job.
nytimes.com/2020/04/28/bus…
Trump’s invocation of the Defense Production Act doesn’t “force” producers to stay open. It gives them cover for what they were doing anyway until local and state officials stepped in to protect these #EssentialWorkers—keep the line running at all costs.
It’s what the meat and poultry industries have always done—put profits over people. It’s why workers aren’t paid a living wage, have no paid sick leave, and are often fired when they have to miss work due to illness or taking care of a loved one.
Read 10 tweets
Hey all. I know many of you have been asking Qs about #PPP and other #CARESAct relief. And I know I haven't been able to answer them all.

Going to take next 45 minutes or so to answer some more.

So, tell me, What's Taxing Your Mind Today?

PLEASE ask w/ #WTYMT so I can filter!
No. The nature of your previous employment doesn't change the nature of the additional $600 amount the #CARESAct authorizes.

Simply put, if you're eligible for unemployment benefits under your state law, you'll be eligible for the $600 amount too #WTYMT

. @ManasaSogNadig I'm not an expert in visas, so I'm going to 'punt' on that part. But in terms of the rules for the #PPP, it explicitly excludes only those workers "whose principal
23 place of residence is outside of
24 the United States."

Read 11 tweets

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