Democrats Propose Huge COVID-19 “Bazooka”

    Wow, the Democrats have proposed significant stimulus in their March 18, 2020 memo to the House of Representatives. Some highlights include:

    • $2,000 for each adult and $1,000 for each child per month
    • Suspension of credit payments
    • Credit facility available to help reimburse creditors
    • Suspend all negative credit reporting
    • Prevent debt collection
    • $5 billion in support for homeless
    • Ban all evictions
    • Rental supports
    • Forbearance for certain mortgages on rental properties
    • $10 billion for community block grants
    • $300 million to assist elderly households
    • $290 million for fair housing enforcement
    • Assistance for small business including, suspension of commercial rental payments, additional grants, tax rebates and CDFI funding
    • Ban on stock buybacks

    To read the full House Democrat report please click here.

    This story is developing, check back for more updates soon.


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