Bill passed more stimulus money for us

[Deleted]

Yippy


Democratic and Republican leaders reach $900 billion coronavirus relief deal that includes stimulus checks



www.aol.com/finance/democratic-republican-leaders-reach-900-225623149.html

It is about time. Hopefully the Democrats once in power will cough up another $600 in stimulus checks to keep the economy running. Poor people like me need the money. Now I hope someone gets my food stamps fixed what a mess this move made.

The only part I care about is this: " The new deal leans on the $748 billion stimulus bill introduced by lawmakers from both parties last Monday and includes provisions both sides support, along with a second round of stimulus checks that wasn't part of the bipartisan proposal. This time the direct payment to Americans will be $600 “per adult and child,” according to Pelosi and Schumer’s statement."

Who knows maybe Trump will demand $1200!!!!!!

[BHU]

There's no assistance in the bill for states & local govt. that are running multi billion $$ defecits caused by this pandenic. Sooooo, when people like police officers start losing their jobs because there's no money to pay them, we'll see what's happens. It's funny how the GOP who's always ranting about cops & their respect, etc. for them, are going to cause, because of their inaction plenty of them to lose their jobs. There was plenty of money for their cronies & megachurch greed merchants like Joel Osteen last spring though. Cops? Not so much. It's not Biden who's going to defund police. It's Mitch McConnell. Can't blame Trump. He was M.I.A. thru the whole process.

[Clipper]

I am not concerned with playing any blame games. I am just thankful that they managed to get a package together and pass it. I am sure that panic is not in order yet. THIS is only the beginning and I am sure that more is coming. The usual political crap is all that kept this from being done much earlier. It is only the deadline that prompted any bipartisan cooperation at all. I certainly can't blame Mitch McConnell for holding up the process when Pelosi and Schumer were trying to push a package with so much pork and bullshit attached. There is much more to be done and now that the deadline is not hanging over their heads maybe there will be a bit more negotiating in GOOD FAITH on both side of the aisle. This will not be the end of stimulus assistance and related legislation. It is only the beginning. Rather than arguing and blaming we should probably see what comes down the pike in the near future. There is partisan vermin on both sides of the aisle and we need to focus on calling our representatives and urging them to do their job continue to find ways to aid those in need of help.

[BHU]

There's no money in there for states & local govt. but there is a provision in there for guys like Mnuchkin & Kudlow along with other elitists to write off their 3 martini business lunches. What does tjat have to do with providing a stimulis for the economy & why is that even in there? I'll bet no cops are writing off their lunches or any other working stiff either. The only readon McConnell even agreed to a stimulis is because he thinks it will improve GOP chances in the Georgia senate runoff. A month ago he was against it. Until he looked at the poll numbers.

[Clipper]

Well l our opinions still differ. I don't think it is a matter of elitists writing off their martini lunches. If it is, you can bet your ass that Pelosi's liquor bill is being written off. Three martini lunches are not confined to Republicans. It is just your opinion that the only reason that McConnell signed off is to better the chances in the Georgia run-offs. I think it is wise to start with what they have signed off on and move forward from there. Throwing all the money at it at once will leave nothing to bring to the table in additional assistance as it is hammered out and the REAL wheat is sorted from the political chaff. I would not even hazard a guess as to the last time any legislation was put forth by EITHER party without attempting to attach a bunch of frivolous unrelated spending items to it.

I am not here to argue. I just think we need detach ourselves a bit from the partisan bitterness and be happy that progress has been made. McConnell is not the only person that has sat at that table and obstructed progress in reaching agreement.

Now that Trump has faded from the picture a bit, let's not take all that Trump hating animous and lay it on Mitch McConnell. I personally could easily lay blame on Schumer and Pelosi but I choose to look on the positive side and be glad that an agreement was reached and left the doors open for further negotiation.

[clarencebunsen]

Dec 21, 2020 12:14:17 GMT -5 Clipper said:

Well l our opinions still differ. I don't think it is a matter of elitists writing off their martini lunches. If it is, you can bet your ass that Pelosi's liquor bill is being written off. Three martini lunches are not confined to Republicans. It is just your opinion that the only reason that McConnell signed off is to better the chances in the Georgia run-offs. I think it is wise to start with what they have signed off on and move forward from there. Throwing all the money at it at once will leave nothing to bring to the table in additional assistance as it is hammered out and the REAL wheat is sorted from the political chaff. I would not even hazard a guess as to the last time any legislation was put forth by EITHER party without attempting to attach a bunch of frivolous unrelated spending items to it.

I am not here to argue. I just think we need detach ourselves a bit from the partisan bitterness and be happy that progress has been made. McConnell is not the only person that has sat at that table and obstructed progress in reaching agreement.

Now that Trump has faded from the picture a bit, let's not take all that Trump hating animous and lay it on Mitch McConnell. I personally could easily lay blame on Schumer and Pelosi but I choose to look on the positive side and be glad that an agreement was reached and left the doors open for further negotiation.

Do you have any links to support that? I can't find any. I have been to many business lunches over the years but I don't remember any with 3 martinis, I can remember one buyer who could knock back 2-3 shots at lunch but I think his company fired him. Most of my business lunches were me taking 2-3 IBM guys to lunch. I would have a beer and they would have a drink each. IBM guys are not wild. I had a lunch in Germany during which I had 2 drinks and a large schnitzel. I fell asleep in the car after lunch. They laughed at me for being a lightweight.

[clarencebunsen]

Dec 21, 2020 11:51:11 GMT -5 BHU said:

There's no money in there for states & local govt. but there is a provision in there for guys like Mnuchkin & Kudlow along with other elitists to write off their 3 martini business lunches. What does tjat have to do with providing a stimulis for the economy & why is that even in there? I'll bet no cops are writing off their lunches or any other working stiff either. The only readon McConnell even agreed to a stimulis is because he thinks it will improve GOP chances in the Georgia senate runoff. A month ago he was against it. Until he looked at the poll numbers.

Sorry, this is what I meant to quote.

[BHU]

Dec 22, 2020 22:35:34 GMT -5 clarencebunsen said:

Dec 21, 2020 12:14:17 GMT -5 Clipper said:

Well l our opinions still differ. I don't think it is a matter of elitists writing off their martini lunches. If it is, you can bet your ass that Pelosi's liquor bill is being written off. Three martini lunches are not confined to Republicans. It is just your opinion that the only reason that McConnell signed off is to better the chances in the Georgia run-offs. I think it is wise to start with what they have signed off on and move forward from there. Throwing all the money at it at once will leave nothing to bring to the table in additional assistance as it is hammered out and the REAL wheat is sorted from the political chaff. I would not even hazard a guess as to the last time any legislation was put forth by EITHER party without attempting to attach a bunch of frivolous unrelated spending items to it.

I am not here to argue. I just think we need detach ourselves a bit from the partisan bitterness and be happy that progress has been made. McConnell is not the only person that has sat at that table and obstructed progress in reaching agreement.

Now that Trump has faded from the picture a bit, let's not take all that Trump hating animous and lay it on Mitch McConnell. I personally could easily lay blame on Schumer and Pelosi but I choose to look on the positive side and be glad that an agreement was reached and left the doors open for further negotiation.

Do you have any links to support that? I can't find any. I have been to many business lunches over the years but I don't remember any with 3 martinis, I can remember one buyer who could knock back 2-3 shots at lunch but I think his company fired him. Most of my business lunches were me taking 2-3 IBM guys to lunch. I would have a beer and they would have a drink each. IBM guys are not wild. I had a lunch in Germany during which I had 2 drinks and a large schnitzel. I fell asleep in the car after lunch. They laughed at me for being a lightweight.

You're right, CB. I shouldn't have used the term "3 martini lunches". I'm sure there are plenty of business lunches where people don't sit around getting smashed. In my younger days I'd get loaded just for the hell of it. Business or no business. LOL

[Deleted]

From racehorse owners to business lunch goers: Here's who got a tax break out of Washington's year-end spending deal


Some of the biggest examples of government largesse were known in advance. Airlines received a second round of the Payroll Support Program with a price tag of $16 billion. Amtrak received $1 billion in funding, and emergency grants to music venues added another $15 billion to the total.



Smaller businesses of all stripes will also be able to take advantage of a second round of the forgivable loans from the Paycheck Protection Program.



But a range of other industries – from beer makers to thoroughbred horse racers – got tax breaks to help them in the coming years and months. Here are some notable examples.



The 'three martini lunch' tax deduction

A tax break many picked up on was what critics have termed the “three martini lunch” deduction. The provision, which President Trump has touted in the past, allows a company to fully deduct a business meal as a business expense.



The bill outlines a “temporary allowance of full dedication for business meals” on page 4,946. In an analysis from the American Action Forum, Gordon Gray notes that firms can currently deduct 50% of the cost of business-related meals. After the new year, the deduction increases to 100% for 2021 and 2022. The cost to the Treasury will be somewhere around $5 billion to $6.3 billion, according to early estimates.


Breweries and winemakers

The deal includes a range of measures for spirits-makers, including the reduction of certain excise taxes and reduced rates for alcohol imports. The industry had been bracing for a tax hike at the end of the year in the event Congress took no action.



In a statement, Chris Swonger, president and CEO of the Distilled Spirits Council, said it would mean “a huge sigh of relief for struggling craft distillers.”


Breweries have been pushing Congress for months to make the previous tax cuts permanent, getting a majority of lawmakers to co-sponsor legislation that was eventually worked into the overall deal. Jim Trezise, president of WineAmerica, thanked “the hundreds of supporters in Congress for this major breakthrough.”



The spirits industry has been turned upside down in 2020 with many brick-and-mortar alcohol sellers seeing their businesses shut down while online purveyors like Drizly saw 350% growth.



Horse racers

Owners of thoroughbred racehorses, many of whom reside in Senate Majority Leader Mitch McConnell’s home state of Kentucky, also received special attention in the final deal.



The legislation includes a provision to reclassify “certain racehorses as 3-year property,” which will translate into a tax break for owners. The provision allows owners to depreciate the value of qualifying racehorses to save money on taxes, which could help “spur investment in racehorses,” according to thoroughbreddailynews.com.


The deal also includes the Horseracing Integrity and Safety Act of 2020. The bill will regulate the horse-racing industry at a national level and aim to stop things like the race-day doping.



“I’m proud the Senate agreed to my legislation to preserve our signature racing industry and the 24,000 workers who support it,” McConnell said in a statement.



Targeted changes for farmers and the self-employed

A summary of the tax provisions compiled by the House Ways and Means ranking member Kevin Brady (R., Texas) highlighted a range of other groups who will benefit come tax time.



Farmers and ranchers will now have new rules about how they can claim farming losses by changing rules that had been instituted in the CARES Act. The regulation “eliminates unnecessary compliance burdens for farmers.”



The new rules also impact some self-employed workers and allows others – like educators, volunteer firefighters, and emergency medical responders – to write off certain personal protective equipment or make permanent certain tax benefits.


The deal also includes the Horseracing Integrity and Safety Act of 2020. The bill will regulate the horse-racing industry at a national level and aim to stop things like the race-day doping.



“I’m proud the Senate agreed to my legislation to preserve our signature racing industry and the 24,000 workers who support it,” McConnell said in a statement.



Targeted changes for farmers and the self-employed

A summary of the tax provisions compiled by the House Ways and Means ranking member Kevin Brady (R., Texas) highlighted a range of other groups who will benefit come tax time.



Farmers and ranchers will now have new rules about how they can claim farming losses by changing rules that had been instituted in the CARES Act. The regulation “eliminates unnecessary compliance burdens for farmers.”



The new rules also impact some self-employed workers and allows others – like educators, volunteer firefighters, and emergency medical responders – to write off certain personal protective equipment or make permanent certain tax benefits.


www.aol.com/finance/coronavirus-stimulus-deal-tax-breaks-business-201042359.html

No wonder it took so long to agree to agree