NEW THING FROM ME: The CARES Act passed forever ago, but millions of people still haven’t received their stimulus checks -- either because they aren’t aware they need to file, haven’t been able to make it through the IRS’ glitchy portal, or were deliberately excluded from it. 1/
The IRS’ latest estimate for the number of people who are likely eligible but haven’t applied through its online portal for people who make too little to file taxes is 9 million. That was last month, but the agency says new figures aren’t yet available. The deadline is Nov 21. 2/
With little in the way of a federal public relations campaign, finding those people has required herculean efforts by outreach organizations, who have to walk people through a hard-to-navigate web interface without much help from backlogged IRS customer service agents. 3/
Of course, that’s only if you do qualify. The Treasury Department is fighting in court to prevent the nation’s more than 2 million incarcerated people from receiving payments, as well as the 1.2 million spouses of undocumented immigrants. 4/
Treasury says that sending payments to citizen spouses of undocumented folks would have been too hard when Congress demanded that money be dispensed quickly, & Congress didn’t make them do it. So far courts have agreed, but plaintiffs are appealing, saying it's unconstitutional.
But a judge *has* ordered the IRS to send payments to prisoners, which still requires most of them to file a shortened tax form. Lawyers and advocates are rushing to make sure that happens before a November 4 deadline for paper forms, sometimes by physically picking them up. 6/
$1200 could be transformative for prisoners, who have to pay for many essential items -- a cost that usually falls on their families, who are disproportionately poor people of color. The court docket has been flooded with letters asking for help applying for the money. 7/
I want to share some of those letters with you all -- people who can't find their social security numbers, who desperately want to send the money to relatives, who aren't getting help from corrections officers.
Some more:
Last batch, though there are many more:
Anyway, the IRS points out that it’s sent payments to the vast majority of households under extremely trying circumstances, with outdated technology, no dedicated marketing budget, and a pandemic. Their funding has dropped significantly since the last time they did this, in 2008.
But ultimately, experts say this episode demonstrates that the government needs to upgrade its pipes for getting money to people. After all, the IRS’ mission is taking money away, not giving it out. (Cue Postal Banking shout-out.) 12/
So here’s the story, with help from @sallybeauv & @thebeenster, who helped find lots of people struggling to get their money, & IRS warrior @JustinElliott: propublica.org/article/millio…

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More from @lydiadepillis

13 Oct
NEW: By Trump’s own benchmarks, his approach to trade hasn’t worked. Here’s my story about what he set out to do, the guy he chose to do it, the agency that carried it out, and the result so far. It’s the most complex, hard-to-balance piece I’ve ever written. This is why. 1/
I talked to dozens of former & current USTR employees, their foreign counterparts, and interest groups. USTR has long been seen as a special agency. Consistently across administrations, about 250 experts & lawyers considered it their mission to break down trade barriers overseas.
Enter Robert Lighthizer, probably the perfect person to carry out Trump’s agenda. He shared the president’s views, but had a much deeper understanding of arcane trade law and how negotiations work from his decades representing the steel industry. 3/
Read 16 tweets
12 Sep
Happy Saturday. It’s 169 days since the CARES Act passed. As Congress dithers on another relief package, I want to show you what the stimulus has done for people, from the lowest-paid worker to the most profitable Fortune 500 company.

It’s time for a trip to Cleveland. (THREAD)
While reporting on the stimulus’s effects, one truth has jumped out: An outpouring of cash kept many small businesses afloat temporarily, but the law’s most generous, least conditional support went to large companies & the investors who back them.

It was a big corporate rescue.
This happened because the CARES Act allowed the Fed to purchase virtually unlimited quantities of corporate bonds, fueling a rapid recovery in the ability of corporations to borrow -- especially riskier companies that had already taken on a lot of debt.
Read 17 tweets
27 Jul
NEW from me -- One of the biggest beneficiaries of the Paycheck Protection Program is a type of company that only technically employs most of its workers: Staffing firms, which handle payroll and recruitment for other companies, and got billions of dollars in loans. 1/
Temps are often the first to go in a recession, and the industry did shed hundreds of thousands of positions in April and May. But some sectors did very well, including healthcare and janitorial, as companies needed to bring people on for COVID-related jobs ASAP. 2/
We found that about 11,000 temp agencies got PPP money. A substantial number of those used the money to pay temps who were *still working on contracts,* which means that the bills paid by clients often went straight to the staffing firm’s bottom line. 3/
Read 7 tweets
20 Jul
NEW: I got a couple big FOIA requests back recently for correspondence between members of Congress and @USTradeRep about tariff exclusions. One thing jumped out: The lengths to which Polaris, a Minnesota maker of power sports vehicles, went to get itself off the hook. 1/
@USTradeRep Last year, Polaris was looking at paying $90 million in tariffs. So it launched an aggressive campaign in D.C., involving powerful senators and representatives, who also received campaign donations. The lobbying even reached Sec. Mnuchin’s office at Treasury. 2/
@USTradeRep The emails also show a cozy relationship between Polaris lobbyists and top USTR officials, who forwarded Polaris’ appeals on to their own higher ups. Polaris also reached out via Peter Navarro, who asked USTR's chief of staff for assistance. 3/
Read 8 tweets
26 Apr
Sunday morning study catchup time. Interesting work for journalists: What if the "What's the matter with Kansas" problem is fed by press coverage that focuses on the economic fortunes of the wealthy rather than disaggregating them from those of the poor? equitablegrowth.org/wp-content/upl…
The inexorable force of industrial consolidation: As regulators allow hospital chains to get bigger and bigger, one of the only checks on their pricing power is the monopsony of enormous health insurers. nber.org/papers/w27005.…
By April 20, California's shelter-in-place order saved on the order of 1,600 lives, at the cost of about 400-900 jobs per death averted (though that job loss is likely temporary). nber.org/papers/w26992.…
This is what flattening the curve looks like:
Read 5 tweets
21 Apr
NEW: With COVID19 exposing America's dependence on supply chains that often end in China, calls are mounting to bring medical manufacturing back onshore. But that’s not the only type of critical good people wish was still made here. Let me tell you about how we lost BATTERIES. 1/
Lithium ion batteries were developed in part by U.S. scientists. But American companies never had the patience to commercialize them. During the last economic collapse, Obama tried to turn that around, pouring $2.4b into battery companies that would put people back to work. 2/
Most of those early investments fizzled, however, because the Obama administration didn’t follow up its supply-side stimulus with enough on the demand side -- government procurement, charging infrastructure, more electric vehicle subsidies, aggressive emissions standards, etc. 3/
Read 10 tweets

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