Wednesday Morning Update: It appears congress has reached an agreement in principle on the stimulus package. Before we get too deep into this, it's important you understand this won't exactly stimulate the economy, it will attempt to rescue it. There's a BIG difference. 1/
The package is certainly a mixed bag of decent news and missed marks, but being cynical right now, while cathartic, doesn't help us understand what's coming. The best news, IMO, is the unemployment benefits for self-employed people. 2/
This means, theoretically, artists, musicians, and anyone else runs their own business, and is considered self-employed via 1099 income, will be able to apply for unemployment benefits. Additionally, salaried employees will have 4 months of ENHANCED benefits.3/
These enhanced benefits will pay a person their full salary while unemployed. Additionally, small businesses will have access to federal loan dollars to help keep people on payroll, and then the loans will be forgiven if no one is laid-off. 4/ 
That small business loan provision is really great, but it needs to get here ASAP for it to matter. Most small businesses don't have two months of payroll stored in their bank accounts, and the clock is running. If that program isn't setup and lending within two weeks, yikes. 5/
There are industry specific bailouts within the bill, and other than the airlines, we don't know what those industries are yet as of this morning. They will undoubtedly anger various groups. Not my concern right now. I'm focused on you, and you alone. 6/
President Trump and members of congress are forbidden from accessing funds from this package to assist their businesses. While that certainly sounds great on the surface (arguably), I'm still worried about low-income employees in those businesses. 7/
Now for what everyone has been waiting for, literally -- The cash payments to Americans. It appears each adult will receive $1,200 and each child will receive $500, but there are phase-outs. Single-filers earning $75k will receive a reduced amount up to $99k, then it's zero. 8/
Joint-filers numbers are $150k and $198k respectively. These appear to be based on 2018 tax info. This cash payments part of the bill is EASILY is the worst part, IMO. Means testing is crazy during a crisis of this magnitude. 9/
All in all, the enhanced unemployment benefits are great news, as is the self-employed unemployment provision. The small business "loan to grant" to provision is very nice, and if this drags on, I'll personally take a hard look at that. 10/
Saving the largest economy in human history, on the spot, in the moment, is a monumental ask. I'm well aware people will be rightfully upset about the cash payments provision, but the rest of the package makes a great deal of sense. 11/
But now two things matter more than anything. A. Timing. If these programs don't open-up within days, our problems will get exponentially worse. B. If people start leaving their homes, all our progress & stimulus will be wasted. We're still at Mile 1 of 26.2. Stay focused. 12/12
