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Stimulus Check and Package Update September 30, 2020

Stimulus Check Update

Stimulus Check and Package Update September 30, 2020


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Quick Overview

  • Today, the Republicans will counteroffer the Democrats on their $2.2 trillion dollar stimulus package known as the HEROES Act 2.0.
  • The Republicans counteroffer is expected to include a second stimulus check but less than the $600 of weekly federal unemployment benefits that the Democrats are seeking.
  • We’ll discuss the current status of the second stimulus check and the new stimulus package.
  • Today, September 30th, is the deadline to claim your stimulus check money for your dependents from your first stimulus check, if you were underpaid on the first stimulus check.
  • The Presidential Debate was last night and it was a hot mess. If you didn’t watch it, I’ll save you the time and let you know what you missed.
  • Covid-19 cases are increasing in the United States.

Second Stimulus Check Update

For the second stimulus check and the stimulus package, let me bring you up to speed on what happened this week and where we currently stand. The stimulus package negotiations reignited on Monday evening. This is because the newest stimulus package from the Democrats, the HEROES Act 2.0, was released on Monday night.

The negotiations on Monday evening spilled into Tuesday, and the negotiations are still ongoing today on Wednesday between Treasury Secretary Steven Mnuchin and Nancy Pelosi. The Republicans will counter-offer today on Wednesday.

The Republican’s counter-offer will be in response to the Democrat’s $2.2 trillion dollar HEROES Act 2.0. The counter-offer will be brought forward by Treasury Secretary Steven Mnuchin, who is on the White House Negotiating Team. Mnuchin said this Wednesday morning that

“we’ll have a very reasonable response”.

Additionally, Mnuchin says that the counteroffer will have an escalator clause, meaning that if conditions don’t improve, there will be automatic triggers to increase the Republican’s offer by approximately $500 billion dollars.

That means that there may be a third stimulus check, but we’re waiting on the details.

Pelosi released her statement last night saying that the conversations between her and Mnuchin have been positive. The Republicans demand that the Democrats compromise and I want to point out the compromises that the Democrats are making in the HEROES Act 2.0 :

  • Hazard Pay, for essential workers, has been cut from the stimulus package. The original HEROES Act contained $190 billion dollars for a $13 an hour pay-raises for essential workers. This has now been stripped out.
  • For the stimulus checks, the original HEROES Act gave $1,200 for each dependent. The HEROES Act 2.0 now gives $500 for each dependent instead of the $1,200 dollars.
  • Renter assistance, to help pay for rent and utilities, has decreased from $100 billion dollars to $50 billion dollars.
  • Homeowner assistance, to help pay the mortgage and utilities, has been reduced from $75 billion dollars to $21 billion dollars.
  • Post Office Funding is decreased from $25 billion to $10 billion.
  • State and local government funding has fallen from $915 billion to $436 billion.

This is how the Democrats brought down the price tag from $3.4 trillion dollars to $2.2 trillion dollars.

To summarize where we currently stand in the stimulus package negotiations, the Democrats have compromised down to $2.2 trillion dollars and we are waiting for the Republican’s counter offer.

As a reminder, today, September 30th, is the deadline for you to claim your first stimulus check money for your dependents if you haven’t done so already. The IRS made errors and did not give everyone their full stimulus check money, especially if you have dependents. If that applies to you, please log on to the IRS website and use their stimulus check tool, called the “Non-Filers Tool”, in order to claim your money.

If you didn’t claim your first stimulus check money because you didn’t file your 2018 or your 2019 tax return, you have until October 15th to claim your stimulus check money by using the Non-Filers Tool as well. There are 9 million people that are eligible and still have not claimed their stimulus check. If this applies to you, this is your friendly reminder.

Presidential Debate

Many of you did not watch the Presidential Debate and I’ll save you the time and heartache. To me, the Presidential Debate was chaotic. Last night, I made a post, asking you what you thought of the debate. This is how the people responded and this is what you missed:

Tina Nelson said

“this was more like a Saturday Night Live skit than a Presidential Debate, what has our country become?”

Doreena Myers said

“I watched the entire thing. This was the worst so-called Presidential Debate in history.”

Michael Thomas said

“I think the entire debate was a train wreck.”

Brittany Butler said

“I don’t know how to feel. We’re doomed”.

There were over a thousand comments, and I don’t think I read a single comment saying that this debate was informative or that we learned anything about their policies going into 2021.

President Trump kept interrupting Joe Biden with insults. Joe Biden did not display good behavior either. Biden said to the President

“will you shut up man”.

Biden also called President Trump a liar and a clown.

I don’t know if it was just me, but I was thinking that they should turn off the mic of the person not speaking to eliminate the interruptions. The debate was very chaotic and exhausting. They ultimately did not say anything meaningful. If you want to know more about their policies or their plans, they didn’t get into any of that. They were too busy trying to make each other look bad.

Let me know your thoughts if you haven’t done so already. What was your favorite part of the debate?

Covid-19 News

  • In the United States, we reported 42,185 new cases and 914 fatalities on Tuesday, this is according to the Johns Hopkins University.
  • n the US, in total, we have now reached 7.2 million cases and 206,000 Covid-19 related fatalities.

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