Dallas (WBAP/KLIF) – Because the White House halted stimulus talks, the CEO of the Texas Restaurant Association (TRA) has told its member eateries that they should stop counting on federal money “that may not come fast enough.”
The Dallas Morning News quotes, TRA chief Emily Williams Knight who says that because of the abruptly halted talks, ‘thousands of additional restaurants will close’ by year’s end.
Williams knight has reportedly begun telling restaurant owners that more federal aid is not coming rather than giving them hope that more help is coming. She anticipates that permanent closures are looming for another 10% of Texas restaurants.
In a tweet Tuesday, President Trump shut down the COVID-19 talks, claiming that House Speaker Nancy Pelosi was not negotiating in good faith. Trump is delaying action until after the election despite ominous warnings from his own Federal Reserve chairman about the deteriorating conditions in the economy.
Trump has asked the Senate Leader Mitch McConnell to instead direct all his focus before the election into confirming his SCOTUS nominee; and, has subsequently challenged House Speaker Nancy Pelosi to craft a bill that include only $1200 stimulus checks.
The Republican version of a stimulus package had nixed those checks.
https://twitter.com/realDonaldTrump/status/1313664886648582144
A $2.2 trillion dollar package passed by the House last week along party lines includes:
*Reinstatement of the $600 per week enhanced unemployment benefit through January
*Send a second $1,200 direct payment to most Americans
Give $436 billion in relief over one year to state and local governments
*Authorize more money for a second round of Paycheck Protection Program loans for the hardest-hit businesses and industries
*Send $25 billion to airlines to cover payroll costs
*Inject $75 billion into Covid-19 testing and contact tracing efforts
*Put $225 billion into education and $57 billion into child care
*Set aside billions for rental and mortgage assistance
Treasury Secretary Steve Mnuchin reportedly countered the House bill Wednesday with one $1.6 trillion proposal.
According to NBC, it includes:
* $250 billion for state and local government relief
* $400 per week in extra unemployment benefits
* $150 billion for education, $75 billion for Covid-19 testing and contact tracing, and $60 billion for rental and mortgage assistance
(Copyright 2020 WBAP/KLIF 24/7 News. This report contains material from the Associated Press and NBC News)
