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At @Bankrate, we& #39;ve been spending the past few days hanging out deep in the weeds of President Donald Trump& #39;s four executive orders.
1. $400 unemployment boost
2. Payroll tax deferral
3. Student loan forbearance
4. Eviction moratorium
Our snapshot: https://www.bankrate.com/banking/trump-coronavirus-stimulus-executive-orders-unemployment-payroll-tax/">https://www.bankrate.com/banking/t...
1. $400 unemployment boost
2. Payroll tax deferral
3. Student loan forbearance
4. Eviction moratorium
Our snapshot: https://www.bankrate.com/banking/trump-coronavirus-stimulus-executive-orders-unemployment-payroll-tax/">https://www.bankrate.com/banking/t...
On the payroll tax memorandum, @JimRoyalPhD does a great job of breaking down the obvious caveat: It& #39;s a deferral, not a cut.
Experts are debating whether the holiday (from Sept. 1-Dec. 31 for those making up to ~$104,000) will actually move the needle. https://www.bankrate.com/taxes/trump-payroll-tax-deferral-executive-order/">https://www.bankrate.com/taxes/tru...
Experts are debating whether the holiday (from Sept. 1-Dec. 31 for those making up to ~$104,000) will actually move the needle. https://www.bankrate.com/taxes/trump-payroll-tax-deferral-executive-order/">https://www.bankrate.com/taxes/tru...
Trump& #39;s student loan memorandum is likely the easiest to implement (and will steer clear of other barriers), simply because it extends federal borrowers& #39; forbearance program already in place by three months, moving the Sept. 30 expiration to Dec. 31. https://www.bankrate.com/loans/student-loans/trump-executive-orders-student-loan-relief/">https://www.bankrate.com/loans/stu...
The $400 unemployment boost is without a doubt the wonkiest & most contested of the four orders.
UI experts and lawmakers are expressing concerns re: constitutionality & implementation, meaning big roadblocks before Americans get $$$. https://www.bankrate.com/banking/federal-reserve/how-trump-400-unemployment-boost-works/">https://www.bankrate.com/banking/f...
UI experts and lawmakers are expressing concerns re: constitutionality & implementation, meaning big roadblocks before Americans get $$$. https://www.bankrate.com/banking/federal-reserve/how-trump-400-unemployment-boost-works/">https://www.bankrate.com/banking/f...
How it was *intended* to work (and it& #39;s different from the CARES-Act backed $600 FPUC payment):
- $300 is supplied by the federal govt; $100 from states
- Trump is shifting over FEMA funds for feds& #39; portion; states can tap into a CRF https://www.whitehouse.gov/presidential-actions/memorandum-authorizing-needs-assistance-program-major-disaster-declarations-related-coronavirus-disease-2019/">https://www.whitehouse.gov/president...
- $300 is supplied by the federal govt; $100 from states
- Trump is shifting over FEMA funds for feds& #39; portion; states can tap into a CRF https://www.whitehouse.gov/presidential-actions/memorandum-authorizing-needs-assistance-program-major-disaster-declarations-related-coronavirus-disease-2019/">https://www.whitehouse.gov/president...
More:
- Eligibility: Individuals who receive more than $100 in weekly UI checks (meaning more scaled than FPUC)
- Should last until Dec. 6, or until funds run out, whichever comes first
- Eligibility: Individuals who receive more than $100 in weekly UI checks (meaning more scaled than FPUC)
- Should last until Dec. 6, or until funds run out, whichever comes first
