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Stimulus Check and Package Update for October 27, 2020

Stimulus Check Update

Stimulus Check and Package Update for October 27, 2020


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Quick Overview

  • The chances of a stimulus package being agreed upon before the elections is not looking promising because the disagreements continue on between the Republicans and Democrats.
  • We’ll cover the status of the second stimulus check and the stimulus package negotiations.
  • The governor of New Hampshire said that Americans would be better off if every member of Congress was voted out and we just started fresh. He said that the American People are sick and tired of nothing and that the politicians have not shown leadership during this health and economic crisis.
  • The Senate has voted on Judge Amy Barret and have confirmed her into the Supreme Court on a vote of 52 to 48. Barrett will be the 115th Supreme Court Justice and will only be the 5th woman ever to be a Justice in the Supreme Court’s 231 year history. After the vote, the Senate immediately started their vacation schedule and left D.C.
  • The Covid-19 situation continues to grow worse in the United States. El Paso, Texas has issued a 2 week curfew and Stay-At-Home-Order. Violators will be fined up to $500 dollars and $250 dollars for failure to wear a mask. Despite there been an eviction ban by the CDC, there have been approximately 10,000 evictions in the past month in just 5 states alone. This is according to the nonprofit Private Equity Stakeholder Project.
  • A British study with over 365,000 people shows that Covid-19 antibodies decline over 3 three months. Additionally, if you were asymptomatic, you will lose antibodies faster compared to people with severe symptoms.

Stimulus Check News

Regarding the seconds stimulus check and the stimulus package, if you remember, Pelosi gave Mnuchin a list of concerns on Friday. Mnuchin said he would review those concerns over the weekend and would follow-up.

Pelosi is the Democrat in charge of the stimulus package negotiations and Treasury Secretary Steven Mnuchin is the Republican representative in the stimulus package negotiations. Pelosi and Mnuchin spoke by phone for 52 minutes on Monday. They did not make much progress on that list of concerns during their 52 minute phone call. They are still arguing about the healthcare details about fighting Covid-19.

Pelosi says that the Republicans promised to accept the Democrat’s terms of the national testing strategy, but that the Republicans backtracked on their promise. Pelosi says that the Republicans are not following through on the national plan that is necessary for testing, tracing, and treatment. Pelosi says that she’s going to wait for a proper counter-offer from the Republicans and Treasury Secretary Steven Mnuchin regarding the list of concerns.

Pelosi wrote a letter yesterday, on Monday, to the Democratic caucus that says the Republicans

“crossed another line in its arrogance in fighting the coronavirus. We must come to an agreement as soon as possible. Help is on the way. It is a matter of life-or-death, and Democrats are deadly serious about the responsibility we face”.

Nancy Pelosi says that she wants to pass the stimulus package as soon as possible. However, Republican Senator Rob Portman says that Pelosi is not interested in compromising right now and that the deal will happen after the elections.

The Governor of New Hampshire, Chris Sununu, gave his opinion and said that Americans would be better off if every member of Congress was voted out and we just started fresh. His direct quote on CNBC’s Squawk Box was

“I think the people of America are sick and tired of nothing. Fire them all, I really mean that sincerely”.

Sununu says that the House and the Senate have not shown the appropriate leadership during this crisis and that the politicians have just clogged the system up so badly. Sununu believes that Congress will ultimately reach a deal after the elections and that the cost of the stimulus package will be astronomical if the Democrats win both the White House and the Senate. The stimulus package negotiations continue today and the Democrats are waiting on a counter-offer from the Republicans.

Political News

Judge Amy Barrett has now been sworn in as a Supreme Court Justice on a Senate vote of 52 to 48. This is a huge victory for the Republicans as they now hold a 6-3 conservative majority in the nation’s highest court.

This will impact the decisions and the laws regarding abortion rights, same sex marriage, business regulation, environmental reform, the Affordable Care Act, immigration laws, and much more… which includes a potential challenge to the election results.

The Democrats are saying it was a hypocritical power grab by the Republicans and that this process should have waited until after the elections. The Republicans are saying that they had every right to nominate a justice and they were carrying out their duties.

After the Senate concluded the confirmation process, they immediately left D.C. to begin their vacation schedule. They are scheduled to come back on November 9th but will be on standby in order to vote on a stimulus package if an agreement is reached before then.

Covid News

  • The situation continues to get worse.
  • El Paso, Texas is now enforcing a two week stay-at-home order with a curfew. Failure to abide by the rules will result in a penalty as high as $500 dollars. The County Judge that issued the order said the hospitals are now at a point where they are overwhelmed and exhausted.
  • The United States reported 66,784 cases and 477 fatalities on Monday, this is according to the Johns Hopkins University.
  • A total of 8.7 million infections and 225,000 fatalities have now been reported in the United States in 2020.

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