Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images
Sen. Mitt Romney seems to be channeling former Democratic presidential candidate Andrew Yang in his proposal to give every U.S. adult $1,000 to help them deal with the economic impact of the coronavirus outbreak.
“Every American adult should immediately receive $1,000 to help ensure families and workers can meet their short-term obligations and increase spending in the economy. Congress took similar action during the 2001 and 2008 recessions,” he said. “While expansions of paid leave, unemployment insurance, and SNAP benefits are crucial, the check will help fill the gaps for Americans that may not quickly navigate different government options.”
The Republican senator proposed the measure amid efforts in Washington D.C. to push a second relief package through the Senate offering free testing and limited paid sick leave.
Critics of the bill say it falls short of addressing the massive economic fallout of the outbreak.
"We also urgently need to build on this legislation with additional action to help families and small businesses meet their short-term financial obligations, ease the financial burden on students entering the workforce, and protect health workers on the front lines and their patients by improving telehealth services," Romney said in a statement.
Romney has also called for giving “bridge grants” to small businesses that apply but don’t receive Economic Injury Disaster Loans under the Small Business Administration. Qualified businesses would need to show a 50 percent decline in monthly revenue from the prior year.
The grants will help businesses afford short-term costs such as payroll and rent that could help them avoid bankruptcy down the line, Romney said.
The same statement includes proposals to defer student loan payments and adjust federal Pell Grants to cover additional costs related to the coronavirus.
In addition, Romney has proposed requiring all private insurance companies to cover telehealth services, with the caveat that the federal government would reimburse all costs.
Catching you up on what you Need to Know on Mar 21, 2022, with updates on the Russian invasion in Ukraine, a Boeing 737-800 plane carrying 132 people crashed in China, Canadian Pacific rail workers on strike, another possible COVID surge, and the SEC's new climate rules for businesses.
Judge Ketanji Brown Jackson has told senators that she will defend the Constitution and decide cases “without fear or favor” if she is confirmed to the Supreme Court.
David Stryzewski, CEO of Sound Planning Group, joins Cheddar News' Closing Bell, where he says he believes pent-up demand is driving stocks higher and explains how Wednesday's Fed decision continues to impact investor sentiment.
Rachel Thomas, the co-founder and CEO of the non-profit Lean In, joined Cheddar amid Women's History Month, to discuss how the organization is taking on issues that continue to impact the workplace through its Circles program. "These are a program that brings women together in small groups, usually 8 to 12, for support, camaraderie, and to learn together," she said. "We also we have a lot of curriculum so women can learn how to navigate workplace biases, how to negotiate with women." Thomas also applauded President Biden's recent call to action on equal pay for women, noting that businesses must do more to be cognizant of inherent gender and racial biases.
President Joe Biden and China’s Xi Jinping spoke Friday for nearly two hours via a video call as the White House looks to deter Beijing from providing military or economic assistance for Russia’s invasion of Ukraine.
The Senate has passed the Sunshine Protection Act to permanently set U.S. clocks to daylight saving time — meaning you won't need to change them twice a year. Senator Sheldon Whitehouse (D-R.I.) joined Cheddar News to talk about something that hasn't been changed in almost half a century. “Well, I think if you were to start from scratch and have somebody come in and say here's my idea, we're going to have two different times during the year and you're going to shift back and forth between different times and have to reset all your clocks twice a year, you'd probably throw that person out as like having a screw loose," he said regarding the status quo.
Catching you up on what you Need to Know on Mar 18, 2022, with updates on the war in Ukraine, President Biden’s meeting with Xi Jinping, Meta removing a deepfake video of Volodymyr Zelenskyy, Britney Griner, vaccine updates, and tech news.
As the Russia's invasion of Ukraine continues, medical experts are worried conditions in active warzones will exacerbate the current pandemic — or even give rise to other contagions. Dr. Daniel Fagbuyi, a war veteran and former Obama administration biodefense appointee, joined Cheddar News to discuss the ongoing danger of COVID-19 on top of the war, as well as the potential for new variants to emerge. "I mean just large volumes of people definitely is a breeding ground. That's the worst case," he said. "Two things don't mix: war-conflict and a virus, a potential pandemic virus."
