I have a few problems with this:
1. This bill leaves open the possibility of infinite UBI, even if or when we don't need it. Remember, our government is affected by this economy too, and if UBI is extended past the timeframe we need it, the budget could suffer.
2. Why exactly are we lowering the corprate tax bracket? I get some large corporations are dealing with massive stock drops, particularly the airline and manufacturing industries, but that doesn't mean big tech, pharmaceutical, and retail corporations should get a free ride. I know it's unpopular, but I believe that bailouts of the suffering industries would be a better solution in a separate bill. It's an evil, but a necessary one, or hell, leaving section 4 as is and eliminating the corporate tax bracket adjustment would work just as fine.
3.
d) A business is eligible for the loans made available in this section if the business-
i) Is based in the Republic of Atlasia.
ii) Has incurred losses as a result of coronavirus such that the continued operations of the business are jeopardized, as determined by the Department of the Treasury.
A bit too open-ended for my liking, there should be a set value of how jeopardized a business is (i.e, lost X% of value). We can't just have Amazon waltz in and hand them a bag of money. Would rather have this section be for smaller businesses or a specific set of industries like in 4a.
That's about it, solid otherwise.
1. My intention with the extension process is to allow the stimulus to continue if we find that the economy is still in need of it by October. I don't think we should be adopting a permanent UBI-currently I would oppose such a bill. If Congress wants to pass an actual permanent UBI then I suppose this makes it slightly easier but in that event a permanent UBI would pass anyway. However, the default in the event that Congress votes Aye on an extension then does not legislate for a different time period is for the full UBI to last until the end of the year-which given the circumstances is not that unreasonable (though at this point we may only need it until October).
2. I see a corporate tax cut as providing some stimulus too, and I did only cut the lower bracket. I think such a tax cut is a fair stimulus measure.
3. I think ii makes sure there are appropriate precautions in place, "such that the continued operations of the business are jeopardized" makes it more than just Amazon complaining they lost some profit. Treasury also determining it-along with the strict conditions and enforcement this bill has in place-means this financial relief will be well managed unlike past rl examples and won't be abused.
