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Stimulus Check Update and Stimulus Package Update August 21, 2020

Stimulus Check Update

Stimulus Check Update and Stimulus Package Update August 21, 2020

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Brian-

Quick Overview

  • Nancy Pelosi refuses to extend unemployment benefits into the Post Office Bill that will be voted on tomorrow.
  • The Republican National Convention begins next week.
  • The IRS started sending interest payments to people who have received delayed tax refunds or are still waiting on their tax refunds.
  • Covid-19 cases have been staying steady near 44,000 cases.

Second Stimulus Check Status

The Republicans and Democrats both want to issue a second stimulus check. The second stimulus check was in the Democrat’s HEROES Act and the Republican HEALS Act. Both parties disagree on other issues, so there is currently a stalemate in the negotiations.

The Republicans are coming up with a smaller stimulus package for $500 billion dollars that does not include a second stimulus check. This does not eliminate the second stimulus check because the Republicans are trying to pass some bills now and some bills later.

The Republicans want a piecemeal approach. The Democrats are against this piecemeal approach because they want one big comprehensive bill.

The stimulus package negotiations will resume September 8th.

Federal Unemployment Benefit Extension

The money to fund this executive order is coming from FEMA. States can apply for this money for their residents or they can decide not to.

The States that have applied and have been approved as of yesterday include, going in alphabetical order:
  • Arizona
  • Colorado
  • Idaho
  • Iowa
  • Louisiana
  • Maryland
  • Montana
  • Missouri
  • New Mexico
  • Oklahoma
  • Utah
States that are expected to apply or are in the application process include:
  • Alabama
  • Alaska
  • Arkansas
  • Indiana
  • Kentucky
  • Massachusetts
  • Michigan
  • New Hampshire
  • North Carolina
  • Ohio
  • Pennsylvania
  • Tennessee
  • Texas
  • West Virginia

Mississippi is still undecided but they thank President Trump for stepping up and trying to help American workers during this difficult time. New York says they will not be seeking this money for their residents because Governor Cuomo believes this executive order is illegal. Oregon is still deciding because they want clarification on the uncertainties of the implementation process. South Dakota is declining this money because the Governor says that their state does not need it because 80% of the job losses in their state have been recovered.

The Governor says:

“my administration is very grateful but South Dakota is in the fortunate position not to accept it.”

The states apply for the money with FEMA. The states issue the payment. These benefits are retroactive to August 1st. You will either get $300 or $400 a week based on if your state chips in the extra $100 or not.

This will go on until funding runs out. We don’t know how long funding will last, but it is expected to last for 3-6 weeks. The House of Representatives are voting on the Post Office Bill tomorrow.

More than 100 Democratic politicians issued a signed letter to their own Democratic Leader in the House of Representatives, Nancy Pelosi, to attach a provision to the Post Office Bill that would extend the unemployment benefits. But Nancy Pelosi refuses because she says that extending unemployment benefits would ultimately backfire in the overall scheme of things.

Pelosi says:

I don’t think strategically, it’s where we should go right now.”

Because we’re on the topic of voting and the Post Office, we posted an article that gives you clear instructions on how to vote by mail for this upcoming election. Some states automatically send you ballots in order to vote, in other states, you need to request it. Some states have specific deadlines, other states do not. We provide all that information to you for each state and give you instructions on the whole process.

Party News

The Republican National Convention begins next week and the Democratic National Convention ended yesterday. Biden delivered such a good speech that even Fox News was commending him for it. Joe Biden made a promise that he’s going to protect America and offered a positive vision for the future of this country.

I know you hear about the Polls saying that Biden is leading Trump by 9%. If you look at the details of those polls, it usually says that the poll was composed of 1,000 people. However, we ran a poll and 61,000 people voted.

The results are in favor of voting for:

  • Donald Trump: 38%
  • Joe Biden: 42%
  • Other: 7%
  • Undecided: 13%

Tax Refund News

I know a lot of you are still waiting on your tax return refunds. It’s not just the Post Office that’s slow, it’s the IRS too. The IRS has started to send out interest payments for those delayed tax refunds. These interest payments will either be lumped with your tax refund or issued as a separate payment.

Covid-19 News

  • The US reported 44,023 cases and 1,078 fatalities on Thursday, according to the John Hopkins University.
  • It is expected that fatalities will begin to decrease starting next week because they are correlated with a lag against new cases.
  • Vice President Mike Pence says that he believes that there will be a vaccine before the end of this year.

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