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Stimulus Check Update and Stimulus Package Update September 3, 2020

Stimulus Check Update

Stimulus Check Update and Stimulus Package Update September 3, 2020

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Brian-

The unemployment data was released this morning. The unemployment claims were down substantially this week, but it was due to a change in reporting method. So please don’t be fooled, the amount of people receiving unemployment benefits actually increased.

I’m going to give you clarification on the opt-out of President Trump’s executive order if you do not want to participate in the payroll tax cut.

For the CDC’s eviction ban, you need to provide a signed letter to your landlord. I created a customized letter for you to download, all for free. I just want to thank you for all your support, and I hope that this helps you.

Quick Overview

  • We’ll go over recent political news such as President Trump telling people to go vote twice, which is illegal.
  • Nancy Pelosi says that she was set-up at the salon.
  • Joe Biden says that he wants there to be a live fact-checking tool against President Trump during the Presidential Debates.

Unemployment Report From the Department of Labor

This report is released on Thursdays and they tell you how many new people are applying for unemployment benefits each week. Today’s unemployment report shows that the amount of new people applying for unemployment was 881,000, which is down from 1 million people the previous week.

However, this week’s report was adjusted for seasonality. The reporting method changed. Therefore, this week’s figures are not directly comparable to the previous week.

Economists say that this report is distorted and makes it less meaningful. They say that the Department of Labor decided to simply add or subtract seasonal changes. The amount of people receiving unemployment benefits has actually increased to 29.2 million from the previous week.

We covered the CDC’s eviction ban in yesterday’s video that is now in effect. You need to provide a signed letter to your landlord to stop you from being evicted.

I have drafted up that letter for you. You can download it for free from our website. All you need to do is print it, check off a few boxes, sign it, and provide it to your landlord. I hope this makes it very convenient for you or for someone that you may know. Again, I just want to say thank you all for your support and I hope this helps you.

President Trump’s Executive Order on the Payroll Tax Cut

If you are a small business owner, you are not obligated to participate in this payroll tax cut for your employees. Especially because it’s just a deferral, not really a payroll tax cut. If you are an employee in the private sector, your employer is supposed to give you the option to opt out of this program. However, it is expected that most private employers will not implement this executive order.

If you are a federal employee, as of today, you will not have the option to opt out of this payroll tax deferral.

According to the payroll provider of the Defense Department, the VA, the Department of Health and Human Services, and the Energy Department. There was a notification that no departments, agencies, or employees will be able to opt out of the payroll tax deferral. This means that they will stop taking out social security taxes from your paycheck for the rest of the year. But then next year, from January to April, they’re going to take out twice as much social security taxes from your paycheck to make up for it. So please plan accordingly if you are one of these 1.3 million federal employees.

But the government has not even written all the rules or issued all the guidance yet. For example, they stop taking social security taxes from you now and then they’re going to recoup that from you by doubling your social security taxes on your paycheck next year. But what’s going to happen if you stop working there at the end of this year? So again, the rules are subject to change, but that’s the guidance as of today.

Stimulus Package Talk

Last week Chief of Staff Mark Meadows and Nancy Pelosi, leader of the Democrats in the House of Representatives, held a 25 minute conversation to advance the stimulus package negotiations. This week, Nancy Pelosi and Treasury Secretary Steven Mnuchin held a 36 minute phone call to make progress on the stimulus package.

When Nancy Pelosi was asked about how the phone call went, she said

“sadly, this phone call made clear that Democrats and the White House continue to have serious differences understanding the gravity of the situation that America’s working families are facing”.

Pelosi says that she is standing firm at $2.2 trillion dollars for the American People. The Senate gets back into session in 5 days.

Political News

Salons are mandated to but closed for indoor service in San Francisco. There’s video footage of Nancy Pelosi enjoying her vacation at a salon in San Francisco. Clearly the rules do not apply to Nancy Pelosi.

I need to remind you that the Democrats were fighting to help Americans by providing financial relief to the People in the Post Office Bill. However, their own leader, Nancy Pelosi, blocked it because she said it was a bad strategy.

Pelosi keeps saying how serious the Covid-19 situation is but there’s footage of her not taking it so seriously. Pelosi, of all people, should be respecting the rules. Pelosi says that she was set up and that she thinks that the salon owes her an apology. Pelosi followed up by saying that the people need to get back to work. She said this while she is on vacation.

President Trump, told people in North Carolina that they should cast their vote twice, once by mail and once in person. That is illegal, so the White House said that what President Trump meant to say was that you should vote by mail and then you should go in person to confirm that your vote was cast.

Joe Biden is going on the offensive and said that President Trump needs to get off Twitter and start focusing on helping people in need during this pandemic. Biden is also calling for a live fact-checking tool during his upcoming debates against President Trump.

At a news conference in Delaware, Biden called President Trump a liar, and said

“what I’d love to have is a crawler at the bottom of the screen, a fact-checker as we speak”.

Covid-19 News

In the United States, we recorded 39,670 new cases and 1,056 fatalities on Wednesday, this is according the John Hopkins University. Covid-19 cases and fatalities have been plateauing at these levels for the past few weeks.

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