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Stimulus Check Update and Stimulus Package Update August 15, 2020

Stimulus Check Update

Stimulus Check Update and Stimulus Package Update August 15, 2020

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Quick Overview

  • President Trump says to get ready for $1,200 stimulus checks to ALL Americans.
  • President Trump also says he’s ready to send more PPP money to small businesses.
  • The Senators are on vacation for the next three weeks.
  • The Democrats say that they’ll resume stimulus package negotiations before those 3 weeks if the Republicans bring $2 trillion dollars to the table.
  • Covid-19 cases are back on the rise.

Party Updates

Here’s an interesting tweet from President Trump late in the afternoon yesterday. It reads

“I have directed Steven Mnuchin to get ready to send direct payments ($3,400 for a family of four) to ALL Americans. DEMOCRATS ARE HOLDING THIS UP!”

Let’s break this down. Steven Mnuchin is the Treasury Secretary. The reason why President Trump said $3,400 for a family of four is because, if there’s two adults with two children in a family. Then, it’s a $1,200 stimulus check + a $1,200 stimulus check + $500 for one child + $500 for the second child, which gets you to $3,400.

Ultimately, it’s the same terms as the first stimulus check, a $1,200 stimulus check for an adult + $500 a child. However, in President Trump’s tweet, he wrote that it would be for ALL Americans, which means that there would be a stimulus check to everybody, regardless of if you make over $75,000 or not.

Giving a $1,200 stimulus check to ALL American adults and $500 per child would cost the United States $1 trillion dollars according to the Treasury. The previous stimulus package cost $300 billion because you were only eligible for the full stimulus check amount if your adjusted gross income was below $75,000.

President Trump also tweeted:

“I am ready to have the US Treasury and SBA send additional PPP payments to small businesses.”

This would be a big benefit to the self-employed and small business owners. President Trump also tweeted:

“I am ready to send more money to States and Local Governments to save jobs for Police, Firefighters, First Responders, and Teachers.”

President Trump did sign those 4 executive orders last weekend for the extension of unemployment benefits, renter assistance, student loan assistance, and payroll tax cuts. When President Trump was asked for clarification on whether this would be an additional executive order, President Trump said that he would not issue an executive order for the stimulus check, PPP, or additional funds for state and local governments. President Trump said that he will not take unilateral action and that he’s waiting for the Democrats to approve these items.

President Trump needs Congress to sign-off on these. However, the politicians are on vacation for the next three weeks.

In order to get the politicians back to work before their 3 week vacation ends, Nancy Pelosi, Leader of the Democrats in the House of Representatives, said that the Democrats would only return before then if the Republicans bring $2 trillion dollars to the table to spend on the stimulus package. The Republicans are currently offering $1 trillion.

Nancy Pelosi spent her morning today writing a letter to her fellow Democrats blaming Senate Majority Leader Mitch McConnell for letting the Senators go back on vacation while the American people are left without assistance.

The Republicans are calling the Democrats GREEDY. The Democrats are calling the Republicans STINGY.

I’ll give you an example where the Republicans and Democrats are far apart, and you can comment below if this is greedy or if this is stingy. For food stamps and anti-hunger programs, the Democrats are demanding $60 billion dollars. The Republicans are offering $250,000.

If that discrepancy does not register for you another way to put it is if the Democrats are offering $60,000 for food programs, the Republicans are offering 25 cents.

Again, is that too greedy? Or is that too stingy?

Covid-19 News

  • Covid-19 cases are back on the rise and cases are spiking in countries across the world.
  • On Friday, we recorded 64,201 new coronavirus cases and 1,336 fatalities according to the John Hopkins University.
  • The Russian Sputnik V Covid-19 vaccine is now being manufactured.
  • South Korea has always been praised for their excellent response and containment of Covid-19. However, new Covid-19 cases doubled in a single day which has caused South Korea to implement new social distancing measures.
  • New Zealand did an amazing job and previously declared that they beat Covid-19 because they were reporting zero cases. Now, new outbreaks are arising in New Zealand.
  • Dr. Fauci warns against the herd immunity technique to beat Covid-19 because that would result in a massive death toll.
  • The CDC says that the United States is currently at a total case count of 5.2 million and 167,000 fatalities.

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