As David Knight outlined today on his show, small and medium-sized businesses would have to pay 14 days sick leave initially, at 2/3 of a worker's pay for their employees (companies with less then 500 employees), and up to three months family and medical leave.  But not big businesses. Facebook, Amazon, Google, etc won't have to do this, just companies with less then 500 employees. This is Pelosi AND Trump destroying small businesses in the US, forever. Only 40 Republican congressmen said no, because of this issue. It also ushers in automation everywhere. Bye bye, US middle class, and bye also to upward mobility, for anyone. After this, Trump supporters officially make me sick.

Article

Authored by Bruce Wilds via Advancing Time blog,

More than a few reasons exist to vehemently oppose the federal covid-19 economic rescue package. This is the hastily drawn up package, which Trump said he fully supports and is rapidly working its way through Washington on its way to becoming law. The two major reasons for strongly objecting to this bill are, we have no idea what it will cost and it will totally miss its target while dealing a crushing blow to small businesses across America. Still, because of politics, the measure passed in an overwhelming 363-40 vote in the House soon after Speaker Nancy Pelosi, and Treasury Secretary Steven Mnuchin reached an agreement.

Politics And Grandstanding For The Masses

The 110-page bill is being painted as proof lawmakers could work together during a crisis after being sharply divided over party lines during the failed impeachment of President Trump.  By framing the poorly and hastily crafted pork-packed bill this way promoters are positioned to demonize those unwilling to support it.

The chamber approved the bill less than an hour after the text was released. 

This bill is aimed at assisting millions of Americans directly and is in addition to the $8.3 billion emergency spending bill already approved to curb the spread of covid-19.

Jim Banks, a congressman from northeast Indiana was among 40 Republicans who opposed the bill. Interestingly, the rest of Indiana's nine-member delegation, six Republicans and two Democrats, voted in favor of the act which has been named "Families First Coronavirus Response Act." Banks claimed it was because "Some language will mean major harm for small businesses and our economy." Bank's office referred to a message sent to House leaders from the National Federation of Independent Business, which objected to a provision of the legislation that would require employers with fewer than 500 workers to provide paid medical and family leave. The question is, how many struggling businesses with two to twenty workers have the resources to weather this storm.

90% Of Businesses Are Small

The bill scheduled to go to the Senate will provide free testing for the virus, expand unemployment assistance and increase spending on nutrition programs. Banks tweeted: "There is much in this bill we need to pass, but as the NFIB said in their letter of opposition, the bill would impose potentially unsustainable mandates on small businesses' hurting not helping the backbone of our local economies."

The NFIB correctly contends that "many small business owners simply cannot afford the cost of the new mandate at the same time as they experience increasingly slower sales." The advocacy organization said that many businesses "may not stay afloat" long enough to claim quarterly tax credits provided by the paid-leave provision. According to the bill, employers would have to provide 14 days of paid sick leave for at least two-thirds of a worker's pay. This applies to employees who have the coronavirus, are caring for a family member who has it or who need to care for children due to facilities being closed. For those now forced to take on this burden, this is enough to make their heads spin, unlike government agencies small business owners cannot turn to taxpayers when they can't pay their bills.

Below is a list of what this legislation promises to do:

• Requires private health plans to cover covid-19 testing at no cost, and allocates $1 billion for testing for uninsured Americans

• Ensures employers with fewer than 500 employees and government employers offer two weeks of paid sick leave through 2020.

• Requires those same employers to provide up to 3 months of paid family and medical leave for people forced to quarantine due to the virus or care for family because of the outbreak

• Offers payroll tax credits for employers providing those leave benefits

• Puts $1 billion into emergency state grants for providing unemployment insurance benefits. It includes $500 million for staffing and logistical costs for states, with an additional $500 million reserved for states that see a 10% increase in unemployment

• Puts $500 million into food assistance for low-income pregnant women and mothers with young children, $400 million into local food banks and $250 million into a senior nutrition program

• Suspends the Supplemental Nutrition Assistance Program work requirements for the duration of the crisis

In an effort to silence GOP opposition Trump wrote this bill “will follow my direction for free CoronaVirus tests, and paid sick leave for our impacted American workers.” He also said he directed Mnuchin and Labor Secretary Eugene Scalia “to issue regulations that will provide flexibility so that in no way will Small Businesses be hurt.” Many political pundits see Trump's declaration of a national emergency on Friday and his endorsement of this package as an effort to mitigate damage from his administration's initially weak response to the crisis.

In what appeared a contrived stunt to rally stocks, Trump declared a national emergency, 15 minutes before the market closed on Friday. In his declaration, Trump said he would temporarily waive the interest on federal student loans but more importantly directed his administration to buy oil for its strategic reserve. This caused oil and stocks to soar. The reality and fears of widespread economic disruption with workers, either sick or laid off has resulted in all major U.S. stock indexes dropping by more than 8% for the week despite rising on Friday.

As expected, in a series of tweets, the president said “I fully support” the legislation negotiated by Pelosi and Treasury Secretary Steven Mnuchin and said he looks forward to signing it “ASAP!” The Senate has canceled its recess plans and is expected to take it up Monday. Senate Majority Leader Mitch McConnell said senators “will need to carefully review” the proposal. “But I believe the vast majority of Senators in both parties will agree we should act swiftly to secure relief for American workers, families, and small businesses,” he said.

(more at link, if you can stand to read it)