https://www.forbes.com/sites/ryangui.../#5d8756272b48
Proposal #1: $2,000 Monthly Stimulus Check
Representatives Ro Khanna (D-CA) and Tim Ryan (D-OH) introduced the Emergency Money for the People Act. This Act, if passed, would provide additional cash payments to Americans who have been impacted by the COVID-19 pandemic.
The Emergency Money for the People Act would provide a $2,000 monthly payment to every qualifying American over the age of 16 for up to 12 months.
$2,000 Monthly Stimulus Check Eligibility:
Every American age 16 and older making less than $130,000 annually would receive at least $2,000 per month.
Married couples earning less than $260,000 would receive at least $4,000 per month.
Qualifying families with children will receive an additional $500 per child – for up to three children.
Those who had no earnings, were unemployed, or are currently unemployed would also be eligible for the stimulus even if they didn’t file a tax return.
Those who were not eligible in 2019 or 2018 but would be eligible in 2020, could submit at least two consecutive months of paychecks to verify income eligibility.
You can learn more on Rep. Khanna’s website or read the full bill here.
Proposal #2: Cancel Rent & Mortgage Payments Through The Coronavirus Emergency
Representative Ilhan Omar (D-MN) introduced the Rent and Mortgage Cancellation Act. This Act, if approved, would call for a nationwide cancellation of rents and home mortgage payments through the duration of the coronavirus pandemic, or up to one year.
The bill would include:
Full rent payment forgiveness for your primary residence
Full mortgage payment forgiveness for your primary residence
No accumulation of debt for renters or homeowners
No negative impact on their credit rating or rental history.
It would establish a relief fund for landlords and mortgage holders to cover losses
It would create an optional fund to finance the purchase of private rental properties to increase the availability of affordable housing.
The bill would be retroactive to March 13, 2020, and would last for one year, unless extended. Renters and homeowners who made payments during April 2020 would be reimbursed for their payments.
No Double-Dipping Allowed. The bill would only allow taxpayers to receive coverage for their primary residence. It would not cover second homes, vacation homes, or other non-primary residences. Those who have both a mortgage and also rent a home would have to choose the home for which they would want to receive financial relief.