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Stimulus Check Update and Stimulus Package Update August 12, 2020

Stimulus Check Update

Stimulus Check Update and Stimulus Package Update August 12, 2020


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Quick Overview

  • Treasury Secretary Steven Mnuchin says that the extension of unemployment benefits for $400 a week, provided by President Trump’s executive orders, will begin in 1-2 weeks.
  • California Senator, Kamala Harris, has been selected as Joe Biden’s running mate. Kamala is a supporter of the $2,000 monthly stimulus check.
  • Stimulus package negotiations are at a standstill because both parties are waiting for the other party to call them.
  • Covid-19 cases are remaining steady at 46,808 cases a day.

Party Updates

When it comes to the stimulus package, Republicans and Democrats have not negotiated on the stimulus package since Friday. They are literally playing the silent treatment game. It is viewed as a sign of weakness to reach out first.

Senate Majority Leader Mitch McConnell said on Fox News “it’s time for everybody to get back to the table. The stalemate needs to be ended. It doesn’t make any difference who says let’s get together again, but we ought to get together again”.

However, even though McConnell said this… he did not reach out to the Democrats.

Treasury Secretary Steven Mnuchin said “I want the Democrats to call me. But I don’t want them to call me if they’re not serious”. Mnuchin said “I am happy to meet any time to make progress on the stimulus package negotiations”. Mnuchin wants to pass a $1 trillion dollar stimulus package now and then to pass another stimulus package later on in the year. Mnuchin’s quote was “my view on negotiations is you agree on the things that you can agree on. And then come back for another bill. Let’s spend $1 trillion on areas of the economy that are going to be very impactful now that we can agree on. If we need to do more, we’ll come back and do more and work together.”

The Republicans and Democrats currently both agree to a second stimulus check and a second round of PPP money.

The Senate is technically still in session, even though the Senators are on vacation.

Yesterday, Senate Majority Leader Mitch McConnell said… on the empty Senate Floor in front of the cameras, “families are suffering, Americans are dying. It would serve the nation better if the Democrat leaders would act like this was a crisis”.

Executive orders

Treasury Secretary Steven Mnuchin says that he expects President Trump’s executive order of the extension of unemployment benefits to begin in 1-2 weeks. States can start delivering the federal unemployment money to people once your state applies for funding with the Federal Emergency Management Agency and making technical changes to their state unemployment computer systems.

Experts are saying that a 1 to 2 week timeline is very aggressive. For the previous federal unemployment benefit program, there was $250 billion dollars allocated for that program. This executive order only has $44 billion in funds allocated.

Therefore, if all states participated in the extension of unemployment benefits, the money would run out in about 5 weeks. Again, we’ll see if this executive order will be challenged in court, but the Democrats say that they do not plan to challenge the legality of it.

Kamala Harris has been selected as Joe Biden’s running mate. Harris served as California’s attorney general before being elected to the Senate in 2016. KAmala is a supporter of the $2,000 a month stimulus check, along with Bernie Sanders.

Kamala said “recurring payments would not only help sustain people through the pandemic, but help them get back up on their feet instead of falling deep, deep, deep in the crevices of the crisis”.

In the Democratic Party, you have Democrats that are very far left and Democrats that are very conservative Democrats.

Kamala is in the middle.

Background on Kamala

  • Democrats that are very left-leaning, wanted her to empty out California’s overcrowded prisons.
  • Kamala did not agree to that policy and the progressives label her as a “cop”.
  • The very far left wanted to eliminate private health insurance in favor of a government-run system. Kamala believes in giving people a choice.
  • The very far left wants to breakup tech giants and want more censorship on social media.
  • Kamala is known to be an ally to tech companies.

Covid-19 News

  • The United States reports 46,808 new cases on Tuesday.
  • This is the 3rd day in a row where we are under 50,000 daily cases.
  • This is an improvement from the daily average cases of 65,000 in late July.
  • The medical community is saying that “we have nothing to celebrate yet and we need to see this number continue to go down”.

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