Monday, August 10th, 2020
With negotiations at an impasse because of Speaker Nancy Pelosi and Chuck Schumer’s complete refusal to compromise, President Trump announced this past weekend his decision to take a series of executive actions to bring relief to American families suffering due to the COVID-19 outbreak. Here’s what you need to know about the steps he’s taking:
With negotiations at an impasse, this turns the tables and gives the President more leverage in negotiations during the coming weeks. The Democrats had hoped to use the expiration of unemployment benefits at the end of last month as leverage in their negotiations to force Republicans and the President to accept bailing out blue state governments that are looking to use this crisis to address their pension programs and other solvency issues that existed long before COVID-19 ever hit.
I do expect an agreement to be reached in the coming weeks that provides additional relief to those businesses that have had major revenue shortfalls as a result of COVID-19 as well as other measures. As always, stay tuned for more...