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The Republican's Faux Assistance Bill, Dems Must Oppose

Here's a summary of what is in the Republican's $2 trillion spending bill to reboot the economy. It's a bailout of big industry and business and a pittance for individuals.

It's also money that mostly has to be repaid. With what? Donald Trump's belief that when this is over our economy will "skyrocket" and the companies on the receiving end will be able to repay these humongous loans? [More...]

The bill would authorize the Treasury to use $425 billion of the $500 billion “to make loans, loan guarantees, and other investments in support of programs or facilities established by the Board of Governors of the Federal Reserve System for the purpose of providing liquidity to the financial system that supports lending to eligible businesses, states or municipalities.”

What do individuals get? A one-time payment of $1,200. A four person household with 2 adults and 2 children gets $4,800. For the tens of millions of Americans with little or no money coming in to meet their existing obligations for housing, car payments, health insurance and food, this will last about as long as it takes me to write this post. The other pittance in the bill? You can take the standard deduction and still write off up to $300 in charitable donations. Is this a joke?

Oh, and the owners of the small businesses, restaurants and bars, who were shut down immediately and without notice this past week for the good of their communities, what do they get? They get to deduct their renovation expenses and losses when they resume business. What if they don't have the money to reopen? A tax deduction is only of value if you have income against which to offset it.

Memo to Donald Trump: The only thing we have after a crisis is our behavior during it, and you and your Administration are failing miserably.

What should the Dems be insisting on? The New York Times has this report on what leading economists say is necessary to reboot the economy and the pitfalls of Donald Trump's method.

I'm more interested in helping Americans this minute than I am in rebooting an economy. So here are some of my ideas. How about tangible and immediate help for individuals who aren't in a four person household, don't have kids at home, are disabled or elderly and considered too old for most jobs, who don't own their home, who don't qua