Well, let's see
.
PANDEMIC SPECIFIC SAFETY NETS:
>$600 a week for 39 weeks on top of state benefits. (That alone probably would be enough to help people for the estimated 6 week shutdown that had been proposed.)
>$1,200 in federal stimulus money.
> Federal Pandemic Unemployment Compensation program.
> Federal income tax filing deadline pushed back 3 months.
> Paycheck Protection Program Liquidity Facility
> Main Street Lending Program
> Money Market Mutual Fund Liquidity Facility
> Secondary Market Corporate Credit Facility
> Mortgage Relief
> Rent Relief (and prohibition on evictions if non-payment of rent is pandemic related)
Now, my head is not in the sand. For some people the assistance is so generous they may be in for an ugly surprise when they file their 2020 tax returns next year because the programs pushed them into high tax brackets. My neighbor is a contractor with 5 employees and he took part in the Paycheck Protection Program. He has been able to continue paying his employees, but now that the tax considerations are included, his business is facing a tax hit on the $100,000 in assistance he got. His employees won, but he will lose thousands by accepting the money.