Today John Vandergriff and Zach Hill go back and forth on the recent $900B stimulus package, where most of that money was allocated, and how it affected the economy. John also ties in how this money, and future stimulus packages, can be managed wisely.
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This episode's notes:
- Checks of 600 versus 1200 last time
- Families got $600 per child
- Unemployment at $300 per week versus 600 last time
- Extension runs through March 14 (previous $600 boost expired on July 31)
- 4 million have been unemployed for more than six months
- 6 million are on unemployment aid
- Repurposes $429 billion in unused funding from CARES act
- PPP round two
- Revenue must have decreased by 25% in one quarter this year compared to last year
- Cannot get PPP if you’re public
- Have to have been in operation prior to Feb 15 2020
- 300 or fewer employees (compared to 500 or fewer)
- Food and beverage gets 3.5x instead of 2.5x
- $15 billion for the entertainment industry, specifically independent music venues and theaters
- The largest public rescue of the arts industry ever
- The bill includes $20 billion for the purchase of coronavirus vaccines “that will make the vaccine available at no charge for anyone who needs it,” according to a summary circulated by Scalise’s office.
- Colleges and schools to received $82 billion
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