$1,400 Stimulus Check Update! [March 1]

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here gents hacky was challenged this

morning as to whether or not the white

house was pushing political appointments

and cabinet appointments

more heavily than the minimum wage jan

saki the white house press secretary

dodged that question

though the white house as we know has

thrown in the towel on the minimum wage

at least

for now senate republicans are even

suggesting in private meetings as

reported by punchbowl news

that the current house stimulus bill

which does include the minimum wage

violates the byrd rule even if they take

out the minimum wage

and this means again according to

punctual news that republicans are

likely to fight a tooth and nail

through every single part of the next

two weeks to do whatever they can

to prevent the stimulus package from

passing

the white house does recognize that the

house bill

will be getting amended in the senate

the senate today

will actually be drafting their

revisions to the house bill

to remove the minimum wage apparently

this is a process that takes

two days to complete and the senate bill

is expected to be ready by wednesday

then both democrats and republicans will

get 10 hours of debate each

to negotiate the next stimulus package

during this time amendments can be

offered

and negotiated in other words we are

going to see a crazy

vote-a-rama all over again this means

expect the next

two weeks to include a lot of delays

stalling and bickering

classic business as usual for congress

last week of course the senate

parliamentarian killed the senate's

opportunity to pass the 15

minimum wage bernie sanders and other

senate democrats consider two options

number one overruling the

parliamentarian but the white house and

senators like senator joe manchin

shot this idea down or number two

passing

a separate bill that would penalize

corporations that do not pay their

employees at least 15 dollars per hour

and subsidizing small businesses to help

them

pay their employees 15 per hour however

both of these options were just

given up on yes democrats have killed

the idea at least for now of passing any

tax credits for small businesses to

increase minimum wage for

employees or penalties for corporations

to incentivize the

increasing of the minimum pay that

employees

receive now while this is bad news for

the minimum wage it is good news for the

brothers

broader rather stimulus package with the

senate we are expected

to get this bill done within the next 14

days

and the more ancillary changes that are

made obviously the longer the debate

could go on so there is a lot of

optimism

for just streamlining the bill the way

it is now slam dunking it with 51 votes

and then revisiting the minimum wage in

the future now senator chris coons

believes that the odds of the minimum

wage actually coming up again this year

are very low this is at least according

to the washington post who reported on

this with senator chris coons

there was also talk about potentially

having an 11

minimum wage that would be phased in

over the next couple years

but these talks might fall by the

wayside especially as

congress moves from the stimulus package

into potentially

bipartisan discussions on infrastructure

coming up next

now problem right now though with the

stimulus package

when this 1.9 trillion dollar stimulus

package passes which it is expected to

pass by march 14th

and even if congress is late by a week

or two it'll certainly get done

within march and i suppose i should

never say certainly with

certainty because it is congress after

all so maybe we'll say

there's a solid 80 chance of this

getting done this month when and if this

does get done this month

there is a down sign and that is that 36

billion

dollars in cuts will come into effect

for medicare in 2022 when there will be

an

increase in student loan fees now this

goes into effect

through automatic spending triggers that

occur anytime congress passes a bill

that affects the budget

through an obama-era bill known as pay

go or

pay as you go now often these increases

in student loan fees and lower medicare

cost reimbursements

end up getting fixed by congress in a

future bill so basically it's kind of

like

yeah we have this 1.9 trillion dollar

bill that we just passed but ooh

now we're gonna attach this extra 30

billion dollar liability and extra fees

coming to student loans

in the future to some other package so

in other words maybe in the

infrastructure package we see these

cuts to medicare and the student loan

fees get reversed

but that would have to be negotiated

with republicans if we go for bipartisan

support again

so we'll have to see otherwise these

funding cuts will go into effect in 2022

and last for a few years

until at least they offset a certain

percentage of the stimulus

package again this is the pay as you go

act that requires this sort of this

automatic

cut that gets uh is set into effect by

automatically trimming

medicare cost reimbursements and

increasing fees for student loans

additionally donald trump yesterday

implied that he will be running for

president in 2024

there are currently a lot of

implications that joe biden may actually

have multiple rounds of stimulus in

the future we'll we'll see if that

actually comes through we're not sure

how much democratic

support there is left for additional

stimulus but those are at least

rumors right now and donald trump so far

spent most of his time yesterday and i

have an outline video on this

discussing his achievements in the past

and talking about election fraud

he did spend some time talking about the

future of reopening schools and did

encourage americans to get a vaccine for

covid

which is the first time donald trump

publicly endorsed this elizabeth warren

today also introduced a wealth tax bill

which would institute a two percent

annual tax on the net worth of

households

with a net worth of between 50 million

dollars

and one billion dollars

that means somebody with a net worth of

50 million dollars would be

basically having to sell somewhere

around 1 million

of their assets every year to be able to

pay this 1 million

wealth tax potentially even more because

there might be capital gains tax

implications now i don't think that

really affects any of us watching this

video uh so uh who knows but anyway this

wealth tax is

being debated now this is a two percent

tax on those making or having a net

worth between 50 to

50 million dollars to 1 billion dollars

and once your net worth is over a

billion so if you become a billionaire

and this elizabeth warren plan passes

you'll get taxed at 3 on your net worth

over 1 billion

elizabeth warren is also calling for

audits for at least the 30 percent of

these

billionaires every single year and if

you try to renounce your citizenship to

leave the united states you'll have to

pay a 40

exit tax sounds a lot like what

california is trying to pass

against californians leaving california

to escape to places with lower income

taxes

well folks there you have the latest on

stimulus hopefully hopefully

without the minimum wage debate coming

up this stimulus package will be

sped up rather than slow down though

again we're gonna have to get through

vodarama and a whole host of amendments

and a whole lot of drama let's see how

it goes thanks so much for watching

and we'll see you next time

you