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>freeze mortgages/rents and The CARES Act has a provision regarding mortgage payments that basically requires that federally backed mortgages be frozen for up
by bitcurious 7y ago
>freeze mortgages/rents and
The CARES Act has a provision regarding mortgage payments that basically requires that federally backed mortgages be frozen for up to 6 months, should the payee request it and claim to be impacted by COVID-19.
>absorb payrolls as other countries have
CARES Act has $350 Billion set aside for small business payroll expenses. There are separate provisions for Airlines, other specific industries.
Furthermore, the CARES Act has extended and expanded unemployment benefits to anyone impacted by COVID, and has temporarily grown the benefit by $600/week, meaning that unemployment benefits are now total wage replacement (or better) for the median American.
- claudeganon 7y ago...and go read about how all of that is being dispersed and implemented. Unemployment systems overwhelmed, the SBA fund is running dry and many still not know how to get over the bureaucratic hurdles, most mortgages are not federally-backed. It would’ve been more efficient and avoided the disastrous consequences of poor implementation to just do blanket payments and freezes.