Thread by @billsweet

Josh & I tackle our early read on the stimulus package here:



since filming, the Senate Finance Committee is out with a six-page summary of the stimulus package here:

finance.senate.gov/imo/media/doc/…

headlines to follow

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one time stimulus payment in the amount of:

+ $1,200 single / $2,400 joint || +$500 per child

+ $600 / week on top of regular UI benefits

https://twitter.com/kpomerleau/status/1241764758631657480

https://twitter.com/arindube/status/1242806200254726145

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important expansion of unemployment for folks who don't normally qualify

think self-employed + part-time - plus folks who quit due to health or family reasons

these folks eligible for 50% of normal state benefit + 600 weekly per @arindube

https://twitter.com/arindube/status/1242806197645910023

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personal finance items:

- RMDs suspended for 2020

- 10% IRA / 401k withdrawal penalty waived

- tax due on IRA or 401k distributions in 2020 to be paid over THREE tax years ( 2020 - 2022 )

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for employers:

- Delay on employer-side SSA tax (6.2%) with 1/2 due 12/31/20 and the remaining 50% due 12/31/21

- NOL carry-backs allowed up to five years

- Business interest deduction limit increased (from 30% to 50% of EBITDA)

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shouts to the great work being done by @NKaeding @kpomerleau and @arindube getting the word out on these matters prior to the full bill being released

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