Transcript for Senate passes $2 trillion coronavirus aid bill
In the past 24 hours, we have seen two landmarks in American the senate has just passed the largest stimulus bill ever. Yep. And there was also a record 3.3 million unemployment filings. The stimulus bill gives a $1,200 check to households making less than $75,000, small business gets loans for monthly payroll and utility expenses and all kinds of stuff. Corporations get up to, like, $500 billion if they hold onto 90% of their employees for the next six months. I think it's a really interesting, good bill. There are things that I feel are problematic in it, but, you know, let's see how you're going to get this money to people. Do they have to leave their houses to go to the bank? Do they have to give you all their information? If so, what are you going to do with it? There's a whole lot of stuff, and why, you know, why aren't we -- why aren't people getting this money instantly? How long do they have to wait before they get it? Yeah. Yeah. I actually applaud the senate for actually, you know, voting, getting it together. It was a unanimous vote. Getting it done. 96 to 0. I'm pleased with the amount. I don't know that it will be enough because it's $1,200 per person in a family that makes under $75,000. We know so many families live paycheck to paycheck, and if you have kids, it's $500 per kid, but we're only talking about a one-time payment, and I just think it's probably not going to be enough for struggling Americans, but there are going to be student loan payments sus pended for six months under this bill. That is significant for people that are struggling. Also protections against fore closures and evictions, and I think that's going to be significant, and then finally I mean, we're talking about three weeks getting these payments. Three weeks, a really long time, but again, at least they're doing something for these struggling Americans. Yeah. I don't disagree with you, sunny because -- oh, I'm sorry. I started talking. No, it's okay, Meghan. I see the good in all of this, but I'm with you that this is the worst crash of unemployment since 1982 when there were 695,000 jobs lost compared to 3 million right now. I will say I think we need to start easing up on rents and loans in this country for the average American family as well. It's not that people can't go out and work. It's that they are unable to. I'm a fiscal conservative, but what's the point of having government mandates when we can't help people in a crisis such as this? I talked about this yesterday with senator Schumer. The idea that someone like Boeing or an airline can use the stimulus package in order to bail them out right now and have them buy back their stock, I think we need to put laws in place to make sure that doesn't that's big money. We're talking about billions of dollars that could be going to the average American who cannot work right now. I will say this. There is a provision that I read about this bill that puts in place they cannot buy back their stocks for a year after paying back the loan. Don't we think it should go further than that? I do. I do actually. Yeah. At least there is a little bit of oversight. We needed the immediacy, and then you can perfect it as we go. The thing I loved the best was the small business loans. Yes. If you hold onto your employees and you keep their jobs, that you can be forgiven the loan altogether. The part that perplexed me was the hospitals, because my understanding was not there was a shortage of money as much as the physical supplies. I'm concerned with possibly president trump invoking the defense production act in order to get the actual supplies made. Where is the personal protective equipment? We need to start relying on private institutions at this point, and when you see people like Elon Musk and Jeff bezos asking people for donations, there's a lot of conversations about billionaires and wealth in this country. Right now your country is calling on you during a time of crisis. I don't want to hear about average Americans donating. I want to talk about the 1% of the 1% who's getting in action. You own a factory. And a beer company that owns the largest manufacturing company, they're making hand sanitizer. There's a person in Brooklyn doing the same thing. That's right. Absolutely. I think we have to start relying on the private sector because it's clear that the institutions and our government are beyond broken beyond anything I could have fathomed. I don't want to hear it Jeff bezos. I want to see you going out and using Amazon for purposes like getting some of these people masks for doctors and hospitals. There's a "New York Times" article out today talking about how doctors are talking about how it's working in chernobyl and they're writing their wills. This is not right for the united States of America right now. Let's see leadership out of the federal government right Yeah. Let's see leadership out of this administration, and let's force these private companies to produce this ppe, these personal protective equipment.
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