This is my stimulus update for Thursday, December Thirty-First, last day of the year.
As you know, there are two separate two-thousand-dollar stimulus check bills right now, one is the Democrats’ version that passed the House floor, standalone bill, this is a clean bill, all it does is increase stimulus payments from six hundred dollars to two thousand dollars across the board, for adults and for dependents.
The second two-thousand-dollar stimulus check bill is one of Mitch’s own creation, Mitch says there is no realistic path forward for standalone two thousand dollar stimulus checks, so he has a bill of his own, we went over this a couple days ago, and his bill only increases the amount for adult non-dependents to two thousand dollars, leaving the amount for dependents at six hundred dollars, and it also includes a repeal of Section 230 along with the creation of a committee to investigate voter fraud in the 2020 federal elections, needless to say, Democrats will not go for that bill. And yesterday on the Senate Floor, Mitch McConnell called the Democrats’ two-thousand-dollar-stimulus proposal socialism for the rich and said that the Senate will not split apart the three issues that Trump talked about in his statement: two thousand dollar checks, Section 230 repeal, and investigation into voter fraud, here’s the clip.
He said that the Senate, and by extension himself, Mitch, will not be bullied into rushing out more borrowed money into Democrats’ rich friends who don’t need the help — oh, poor, Mitch, you’re such a bullied little victim here. McConnell said similar things on the Senate Floor this morning.
What does he mean by this? Well, what he means is that if you do the math, as I’ve done in this spreadsheet here, under the Democrats’ bill, you could still be having people, family of four, married filing jointly, still receiving something of a stimulus check at AGI of three hundred and ten thousand dollars.
I put together this spreadsheet here, under the Dems’ proposal, the House bill, family of four making two hundred thousand a year would still get a fifty-five hundred dollar stimulus check, family of four making two hundred and fifty thousand would get three thousand, family of four making three hundred thousand a year would get five hundred. So that’s what McConnell’s getting at there and using that as a reason why he doesn’t want to put the standalone stimulus check bill that passed the House on the Senate floor. But if you look at McConnell’s bill, you still have some families of four making good money, two hundred grand a year, would still pull a twenty seven hundred dollar stimulus check, right. But anyway, more importantly, this morning Chuck Schumer called McConnell’s bluff, Schumer said, “OK, fine, we’ll vote on those things that Trump wants to vote on, Section 230, election fraud, go for it, Mitch, but we want them as separate pieces of legislation from the two thousand dollar stimulus checks.”
I think that’s reasonable. I think that’s a perfectly reasonable thing to do. Sure, let’s vote on all these, but let’s not lump them together.
Schumer also pointed out that a fraction of the recipients of the Democrats’ bill would be the top five percent, though of course high earners would still get checks. Then Bernie got up on the Senate Floor and basically lambasted McConnell for calling the Democrats’ two thousand dollar stimulus check bill “socialism for the rich” and said that McConnell who led the charge in the Senate for the Tax Cuts & Jobs Act in 2017, that was socialism for the rich.
But get this, for this morning Lindsey Graham was on Fox and Friends and he said in the new Congress he wants a standalone vote on two thousand dollar stimulus checks as well as standalone votes on Section 230 and voter fraud, that is sounding a lot like Chuck Schumer.
And Graham also said that he believes there are seven Republicans on board with this, keep in mind though that two of those are Loeffler and Perdue, who are in the Georgia runoffs next week, so if best case scenario for Dems, Loeffler and Perdue are defeated, Dems and Independents have fifty votes in the Senate, Republicans have fifty, unless they do away with the filibuster, they would still need ten Republican votes to get to sixty, but now Loeffler and Perdue would be gone, so they would only have five Republican votes remaining in support of standalone two thousand dollar stimulus checks, so they would need to round up five more.