Citation :
House Democrats introduced a broad-based $2.5T plan to mitigate economic damage from the coronavirus pandemic as efforts to pass a bill in the Senate hit more obstacles on Monday.
Under the plan, lenders would be required to grant a temporary reprieve from mortgage and car payments and credit card bills, and would order the Fed to provide loan servicers with liquidity to allow borrowers to stop paying their mortgages for up to 360 days.
Public housing residents would get a temporary reprieve from paying rent; student loan borrowers would have $10,000 of debt forgiven.
It would also includes direct payments to individuals of $1,500 and up to $7,500 for a family of five; $500B in grants and interest-free loans to small business; strengthened unemployment insurance.
The House bill would require companies that get any federal aid to restrict executive pay, ban golden parachute payments for excecutives who leave, stop stock buybacks and dividend payments, pay a $15/hour minimum wage, and keep their workforce and labor union agreements.
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