There's A New Stimulus Package In The Works, But It's Got A Catch

According to the Motley Fool, the Internal Revenue Service sent out more than 140 million payments totaling $239 billion as of May 18. Another report by the Motley Fool says it's not enough, that most Americans had their money spent in 2 weeks, some spent it in less time.

Since the passage of the CARES Act, the Motley Fool Reports well over a half-dozen second stimulus proposals have been introduced in the Senate or House of Representatives by Kevin Brady, a Republican from Texas and part of the Ways and Means Committee. It's called the Reopening America by Supporting Workers and Businesses Act of 2020 (yeah, no fun acronym here) and would give a $1,200 hiring bonus to currently unemployed people who reenter the workforce. Remember the CARES Act also extended unemployment to the end of July. The Motley Fool Is reporting that Republican Lawmakers are thinking that people aren't looking for work if the money is there. Their thinking is if they reward people who go back to work, more people will go. I think there can't be many jobs open since so many businesses are closed and most of them are not hiring.So, according to the Motley Fool with the Reopening America bill, people who are unemployed and get a job would then get two extra weeks of their benefit. The bill also will allow employers to report people that turn down jobs just to collect unemployment. That is great for people who are unemployed, but it doesn't do anything for the people who are struggling or had to take a pay cut or get their hours or days cut and can't afford their living expenses.My bet is there will be another one, and this one will be changed to help employers and unemployed people. More people and still saying they need help.

There’s A New Stimulus Package In The Works, But It’s Got A Catch