Each year I help over 500 clients file their Canadian and US tax returns as well as plan for both their Canadian and US investment accounts. I also regularly help new US clients plan for their move to Canada.
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.