Richard Rubin

speaker

1,496 appearances 29 recordings 1 series first heard Oct 2017 last heard Jan 2024

Richard Rubin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Congress, IRS Prepare for Second Stimulus Payment · 24 Jul 2020 podcast

The Treasury Department is. matched

They make Congress well aware of what they can and can't do. matched

But they try to limit the information that they provide to the public in terms of setting expectations really until there's something that's actually a law and then they're implementing it. matched

And that could be a few weeks and then we'll have some better clarity and guidance from the IRS on how this is all going to work. matched

So it seems like we're pretty well likely heading into a period where there's going to be some lapse in those. matched

And so that's going to be a problem for a lot of households. matched

And the negotiations are going on. matched

It's a big sticking point for Republicans who say that it's providing a disincentive for people to get back to work. matched

Democrats will argue that, well, no, we actually aren't seeing much in the way of disincentives for going back to work. matched

The virus is the disincentive to go back to work and we need to make households as whole as possible or more than. matched

And so Republicans are trying to kind of settle on some mechanics for replacing part of wages, but not give people more than they were making before the pandemic. matched

And we'll see in the coming days whether they can come up with some sort of proposal and then take that into the negotiations with Democrats. matched

Yes, so there was a $600 addition to regular unemployment benefits, and so that means that many people can make more from unemployment benefits than they were making before. matched

Republicans want to kind of bring that below full replacement income level, and so we'll just see as they negotiate and figure out that plan what that's actually going to look like. matched

And so that obviously leaves... matched

many millions of people in limbo right now because those $600 a week payments are going to start expiring. matched

WSJ Your Money Briefing · Coronavirus Relief: Why a Payroll Tax Cut Is Unpopular in Congress · 22 Jul 2020 podcast

Now, you don't see all of that coming out of your paycheck. voice-verified

You'll see half of that coming out of your paycheck, and the other half your employer has to pay. voice-verified

In general, all of that just makes it more expensive for an employer to have an employee. voice-verified

It's really getting a lukewarm reception because many lawmakers feel it's not really particularly suited to the moment, that it's a tax cut proposal that is kind of wide ranging and broad and not really targeted at helping people who are unemployed or targeted at helping people get back to work, that it would really benefit those people, but also everyone who still has a job. voice-verified

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