"- A careful review of laws and regulation at federal, state, and local levels should be conducted to determine which regulations could be lifted or eliminated without jeopardizing public health or safety.
22. Price-Gouging
"- Price-gouging must not be allowed and as soon as the COVID-19 coronavirus vaccine is developed it should be provided free to EVERY citizen. As well, all prescription drugs developed with taxpayer dollars should be sold at a reasonable price.
"- As the epidemic rapidly expands, already the cost of a ventilator has soared from $25,000 to $45,000 because of increased demand and nationwide shortage.
The above represent various proposals that have been put forward for the initial phase of immediate fiscal spending response to prevent the collapse of the economy and to restore incomes now being devastated. Other proposals will certainly surface for consideration. The cost to implement will be enormous, but will save many more lives as long-term reforms such as the Capital Homestead Act start financing the rebuilding of the economy and generating capital ownership incomes for EVERY citizen-owner.
The Current Stimulus
Congress has negotiated and enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act, an initial sweeping $2.3 trillion economic stabilization bill ("Phase III") (See https://www.congress.gov/bill/116th-congress/house-bill/748/text).
Among the deal's key provisions, besides the billions of dollars in bailouts allocated to the controlling owners of major corporations to be leveraged into trillions of dollars with as few strings attached as possible, are:
"- The plan will rush financial assistance to Americans with direct checks to households in the middle class and in lower-income levels. The estimated $560 billion amounts to a one-time, means-tested $1,200 payment to most American adults, among other payments.
"- An extended unemployment insurance program for laid-off workers that will allow for four months disbursements, rather than the usual three months for most. It also will raise the maximum unemployment insurance benefit by $600 per week on top of whatever base amount a worker receives from their state. It will apply to traditional workers for small and large businesses as well as those who are self-employed and workers in the gig economy.
"- With the CARES Act, the government and taxpayers will now pick up the tab for the unemployment benefits for the millions of contract and gig workers that the system has failed to cover. Companies have been allowed to avoid paying any unemployment benefits tax that would otherwise cover contract and gig workers.
"- More than $153 billion for the public healthcare system, including funding for hospitals, research, treatment and the Strategic National Stockpile to raise supplies of ventilators, N95 face masks, shield, gowns and other equipment. Of that, $100 billion will go to hospitals and the health system and $1 billion to the Indian Health Service.
"- $340 billion to state and local governments to address spending shortages related to the coronavirus pandemic.
"- $366 billion for small businesses impacted by the pandemic in the form of forgivable SBA Paycheck Protection Program (PPP) loans up to $10 million each to cover payroll and some other costs. An additional $310 billion was approved April 24 as part of an interim $484 relief package, which includes $60 billion specifically for federally insured community banks and credit unions. Businesses that retain their pre-crisis payroll for workers will have these loans forgiven. Unfortunately, as with the first PPP round, millions of small and family-owned businesses, desperate for credit and tottering on the brink of permanent closures, have been shut out from applying for, let alone receiving, the government-backed forgivable loans.
"- Up to $10,000 in grants per company in immediate operating cost relief for small businesses.
"- The Economic Injury Disaster Loan program provides qualifying small businesses and non-profits with working capital up to $2 million with low interest rates and terms extending up to 30 years.
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