Goodbye, 2020, and good advice. Here’s what you need to know for the next week in business and tech, but most importantly, cheers to a better 2021. Please ring in the new year safely. – Charlotte Cowles
How are you? (December 20-26)
Down to the wire
After a nine-month stalemate, Congress finally managed to pass a long-awaited (and much-needed) $ 900 billion pandemic relief package. Then President Trump took a last-minute interest in the bill and disliked what he saw (“a shame”). Before going on vacation, he demanded that the legislation include direct stimulus payments of $ 2,000 for most Americans, not $ 600 as the bill would foresee. Democrats were more than happy to accommodate the change, but Republicans blocked the measure and threw the bill into limbo. That’s bad news for anyone relying on existing emergency funds, the latter of which are running out this week.
Which Others Public health emergency
The Justice Department is not done pointing out those who willfully ignored the red flags that led to the opioid crisis. Last week, it accused Walmart of looking the other way as its pharmacies filled thousands of suspected opioid prescriptions. The civil suit alleges that Walmart also ignored reports from its pharmacy employees who pointed out to their superiors that certain prescriptions looked strange. Walmart denied the charges, saying the Justice Department was putting shopkeepers in an unfair position for having to “rethink” doctors’ decisions.
Which hack?
Well, this is tricky: the Russian hackers who infiltrated US government networks managed to break through the email system used by top Treasury Department officials in July, without anyone noticing until recently. The same hackers also infiltrated hundreds of US organizations, including Cisco, Intel, Nvidia, Deloitte, and the California Department of State Hospitals. Investigators still don’t know whether the cyber attack compromised classified information. But one thing certainly doesn’t help: Mr Trump has refused to acknowledge Russia’s involvement and is instead trying to blame China. President-elect Joseph R. Biden Jr. accused Mr Trump of irrationally downplaying the attack – which will become his problem in January.
What’s next? (December 27 – January 2)
Down to the Wire II
Britain and the European Union finally reached a hard-won trade deal on Christmas Eve, squeaking under their deadline and a solution to a bitter Brexit battle that has plagued the bloc for more than four years. But the deal has yet to be ratified, and trade in the region continues to face serious upheaval. Last week, British officials discovered a new mutation of the coronavirus that may be up to 70 percent more contagious, causing dozens of countries to block travelers from Britain to prevent its spread. The ban forced thousands of trucks (and their drivers) to spend days in traffic jams in British ports, while perishable exports spoiled. Customs officials are starting to let trucks through, but the new trade deal won’t really speed up the process.
The second incentive
Answers to your questions about the Incentive Act
Updated December 27, 2020
Lawmakers approved a plan to issue $ 600 stimulus payments and pay federal unemployment benefits of $ 300 for 11 weeks. The bill passed both houses of Congress by an overwhelming majority, but President Trump is opposed to signing it. Learn about the bill and what’s in it for you should the president eventually sign it into law.
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- Will I still receive an incentive payment? Individual adults with adjusted gross income on their 2019 tax returns of up to $ 75,000 per year would receive a payment of $ 600, and householders who would earn up to $ 112,500 and a couple (or someone whose spouse died in 2020) up to $ 150,000 per year. get twice that amount. If they have dependent children, they will also receive $ 600 for each child. People with incomes just above these levels would receive a partial payment that decreases by $ 5 for every $ 100 in income.
- When can my payment arrive? Treasury Secretary Steven Mnuchin told CNBC he expected the first payments to be made before the end of the year. But it will be some time before all eligible people receive their money.
- Does the agreement affect unemployment insurance? Lawmakers agreed to extend the time people can receive unemployment benefits and restart an additional federal benefit that will be provided on top of the usual state benefit. But instead of $ 600 a week, it would be $ 300. That would last until March 14th.
- I am behind on my rent or expect to be soon. Will I get some relief? The deal would provide $ 25 billion to be distributed through state and local governments to help renters who have fallen behind. To receive assistance, households should meet several conditions: The family income (for 2020) must not exceed 80 percent of the median income of the area; at least one member of the household must be at risk of homelessness or unstable housing; and individuals must be eligible for unemployment benefits or have experienced financial difficulties – directly or indirectly – as a result of the pandemic. Under the agreement, aid would be a priority for lower-income families who have been unemployed for three months or more.
Who gets a chance
You may have seen your first ‘vaxxies’ – of course, photos people take of themselves getting a coronavirus vaccine and then post them on social media. The country has already given out more than a million doses to health professionals, but who is next? The Centers for Disease Control and Prevention recommended that about 30 million “frontline workers,” such as counselors, teachers, and supermarket workers, as well as people 75 and older, should be given priority. But “essential” is hard to define, and now Uber, Lyft, DoorDash and Instacart are all chasing their employees to get that rating and pushing them to the forefront.
Tip generously
In the restaurant business, tips are a big part of how servers and bartenders make money. But now, a new labor department rule says restaurants can require employees to aggregate and share their tips with the wider workforce, including back-of-house workers who don’t normally see that money. There are some parameters: Servers can only be asked to share tips if they receive the default minimum wage in their city or state, not the lower minimum wage that employers in most states allow to pay tipped employees. The rule, which can be modified or blocked by the Biden administration before it takes effect, also prohibits regulators, managers and owners from diving into the tip themselves. Whatever happens, consider this a reminder not to be stingy with tips, especially these days.