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Stimulus Check and Package Update September 23, 2020

Stimulus Check Update

Stimulus Check and Package Update September 23, 2020


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Quick Overview

  • Treasury Secretary Steven Mnuchin testified before Congress and said that the Trump Administration wants a second stimulus check.
  • Democrats in the House of Representatives confirmed their commitment on sending Americans a second stimulus check.
  • The Federal Reserve Chairman testified before Congress and said that the economy needs another stimulus package to keep it afloat.
  • In retaliation against the Republicans trying to fill the Supreme Court Seat, Chuck Schumer, leader of the Democrats in the Senate, invoked the two-hour rule in the Senate. That means that after two hours of work, the Senators stop working for the day.
  • Our politicians have now agreed on the government funding bill.
  • The House of Representatives passed the government funding bill 359 to 57 and it now moves on to the Senate where it is expected to pass.
  • Covid-19 cases have been on the rise in the United States ever since September 8th.

Two Hour Rule

First, let me tell you about this two-hour rule going on in the Senate. Chuck Schumer is the Senate Minority Leader. Schumer invoked the two-hour rule because the Democrats are upset that the Republicans are trying to nominate a new Supreme Court Justice.

The Democrats are upset because they want the winner of the next Presidency to select the Supreme Court Justice and the Republicans are ignoring that demand and carrying on.

Schumer said that he invoked the two-hour rule because

“Republicans are destroying the institution”

by confirming a Supreme Court Justice at this time. With the two-hour rule in effect, the Senate committee is not allowed to meet after the Senate has been in session for two hours or after 2:00 PM.

Senator Marco Rubio had an important Senate Intelligence meeting to plan out national security measures but Schumer objected and said that the two-hour rule is in effect, no exceptions, and the meeting was cancelled. Many Senators ended yesterday dumbfounded and frustrated saying that defending the United States from cyber threats amid Covid-19 will just have to wait and be rescheduled.

Treasury Secretary Steven Mnuchin testified before Congress saying that the Trump Administration supports a second stimulus check and another stimulus package. Jerome Powell, the Federal Reserve Chairman, was also testifying before Congress and said that the economy needs another stimulus package to keep it afloat. Powell testified that the previous stimulus package played a large role in stabilizing the economy with stimulus checks and federal unemployment benefits.

Powell said that without a second stimulus check and another stimulus package that the consequences will show up in evictions and foreclosures and things that will scar and damage the economy.

During the testimony, Treasury Secretary Steven Mnuchin was questioned

“Yes or no, do you believe another stimulus check could help stabilize the economy?”

Treasury Secretary Steven Mnuchin responded with

“I do”.

And then Mnuchin proceeded to testify that in order to pass a second stimulus check, that the stimulus bill needs the support of both Republicans and Democrats in the Senate. Then the panel responded by urging Mnuchin to continue pushing for more stimulus checks and to negotiate a deal between the Republicans and the Democrats.

The panel said to Mnuchin that you have to be clear with the Senators that stimulus checks going out to Americans is critical to preventing economic collapse in our country.

You have the top officials testifying before Congress on how important and urgent these stimulus checks are and the need for another stimulus package. Let’s be very clear. The politicians know the importance and the urgency but they have their own agendas and their own political motives holding up the second stimulus checks and the stimulus package at this point in time.

Government Funding Bill

The politicians have finally come to an agreement on the government funding bill. The Republicans were fighting for more money for farmers. The Democrats were fighting for more free school lunches. The politicians included those items and passed it in the House of Representatives on a vote of 359 to 57. It now goes to the Senate to be voted on.

The deal was negotiated by Speaker of the House, Nancy Pelosi, and Treasury Secretary Steven Mnuchin. The good news is that the politicians now don’t have this issue distracting them from making progress on the stimulus package.

Covid-19 News

  • The second wave of Covid-19 is now occurring in Europe.
  • Surges in Covid-19 are happening in Spain, the UK, Czech Republic, and France.
  • In the United States, we reported 39,334 cases and 921 fatalities on Tuesday, this is according to the Johns Hopkins University.
  • In the United States, we have now surpassed 200,000 Covid-19 related fatalities.
  • India is about to overtake the US for the most Covid-19 cases globally.
  • India has been reporting more than 90,000 cases for the majority of the days in September.
  • Israel reached all-time high case counts last week. Their second lock down has been helping reduce their Covid-19 cases drastically this week.

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