4th Stimulus Check Update & News | June 1

hey everyone me kevin here with an

update on the fourth stimulus check

we're also going to talk about

unemployment and the child attacks

credit

let's get right into it so let's get

this out of the way the us chamber of

commerce

says quote the worker shortage is real

and it's getting worse and worse by the

day we've heard plenty of anecdotes

about this though not so notable to talk

about but what is interesting

is the us chamber of commerce actually

has a recommended solution called the

america

works initiative which to me seems like

the

perfect copy of the america works jobs

program

from house of cards but the point is

america

needs people back to work and there are

a lot of issues with folks going back to

work

most importantly because hey a lot of

schools aren't open yet pe

people don't want covet and a lot of

people are not convinced yet

to take the vaccine and see even if

schools were open and people were okay

with covet considerations there's still

a lack of

affordable child care in this country so

we have

some big issues to try to solve some of

the affordability issues in the country

we know that joe biden and democrats

are trying to get a two trillion dollar

infrastructure and a social

infrastructure

spending package passed republicans are

stuck of course

at a much smaller number one that is

actually less than one-fourth

of the size it is about 928 billion

dollars

and negotiations are currently underway

now democrats are threatening that hey

look if we don't come to a conclusion

within the next week some kind of

compromise within

the next week then democrats say they'll

just move ahead on their own

infrastructure package without

republicans in other words

we gave you a chance you didn't decide

to come with us so we're gonna go ahead

on our own problem with this is

republicans

won't work with democrats if democrats

make any changes to the 2017 tax cuts

or other tax changes like removing the

1031 exchange

for real estate or the stepped up tax

basis these are really big issues

on top of that republicans don't like

spending a lot of money whereas

democrats say you know we need to invest

in our society to get people

back to work so that we actually have

open and clean schools so that we have

equality in our country so that we have

support for

child care programs in our country well

this is of course

classic congress now democrats do

believe that hey no problem we'll just

go with budget reconciliation

and we'll do as much as we possibly can

to get this budget done and the

infrastructure package done

through budget reconciliation however we

still have

moderate democrats like joe manchin

saying not so fast

i'm gonna need a lot of convincing now

eyeballs are still on joe manchin but so

far we still don't have an update

on whether or not joe manchin could

potentially be swayed

now usually in politics there's a way to

sway people

it usually has to do with a lot of money

going to people's states or districts

so we'll see what joe manchin ends up

debating for

who knows we'll see but right now no

progress on

joe mention and instead we are at a

stalemate in congress on the

infrastructure package

now it's worth noting that at the same

time this debate is going on

and folks are having issues getting

their children back to school

safely and 76 of surveyed economists

report that businesses they're working

with find it difficult or very difficult

to find workers

we have states like texas florida and a

total of 24 republican-led states

throughout the country

ending jobless benefits throughout the

months of june and july to try to

encourage people

to go back to work now again folks who

are receiving unemployment say look

you can't just take away our support

you've got to actually provide

quality child care at an affordable

price after we've just been destroyed

and now we don't have anybody taking

care of our children while at the same

time

we want to make sure that we are able to

go back to school

safely now i'm sure things like this can

be balanced so hopefully

congress would actually negotiate on a

child care and making it feasible for

folks to go back to work

but so far the debate is republicans

only want roads bridges a railway

waterway

and broadband work in their

infrastructure package traditional

physical

infrastructure and democrats say well

what about social

to which republicans say no thank you

that unfortunately includes a big no

thank you to child care at least for the

time being but all hope is not lost

remember we're still getting a child a

tax

credit a child tax credit will offer up

to 300

for children under six and up to 250

dollars

for children 17 and younger throughout

2021 on a monthly

basis this is so that we can access half

of the child tax credit on a monthly

basis

and the rest will be claimable on our

2020 tax return

for a full set of thirty six hundred

dollars for children under six

and three thousand dollars for children

17 and younger children included will be

any children who turn

17 in 2021 and since the child tax

credit will not require

any kind of income you can actually get

a refund and get this installment a

payment

even if you're not making money or

filing taxes

however you would have to file your tax

return to get your second

half now starting july at 15th

through the end of the year families

will be claiming that child tax credit

and 80 percent of families will receive

their money direct deposit into the same

account they told the irs to use for

their 2020 tax

refund which is probably the same place

that you got your stimulus check

if you didn't select direct deposit when

you filed your 2020 taxes

you'll end up getting either a paper

check or a debit card

now the irs does urge people to file

their taxes especially if you have

children

as soon as possible to make sure that

you're eligible for the appropriate

amount

of the child tax credit keep in mind we

do also have a child and dependent

tax credit worth up to sixteen hundred

dollars this means people can be

eligible to receive up to fifty percent

of what they spend back as a tax credit

the amount you'll be able to claim will

be eight thousand dollars for

one dependent or sixteen thousand

dollars for two

or more dependents and this makes it

very important that you collect your

receipts and monetary proof to make sure

that you can actually claim

these tax credits now keep in mind

that's up to sixteen thousand dollars in

expenses that you can claim

which means you would get eight thousand

dollars or you could claim up to eight

thousand dollars in expenses for one

dependent which could be an adult

dependent or child dependent

and you would get about four thousand

dollars in

savings so that's a very very important

it's a fifty percent

tax credit so what you spend you get

fifty percent

if you have five dependents and you

spend 12 grand you get 50

of that 12 grand that you document which

is six grand now it's also

important to consider what qualifies and

what doesn't qualify for things that do

qualify we have

day care expenses before and after

school programs day camp transportation

to and from care providers

babysitters nannies and housekeepers

what does not qualify would be your

spouse your dependent's parents your

children and babysitters have paid under

the table in other words i'm not taxed

uh babysitters

so those are important things to

consider and keep in mind now

what about the stimulus check

so here's the scope we have a lot of

action going on and a lot of activism

going on regarding

the fourth stimulus check in fact right

now if you go to medkkevin.com

2k it's metkevin.com

2k you can sign a petition the petition

is 2 000

per month for every american we already

have over 2.2

million americans who have signed this

now last year when we did the petitions

they weren't really successful

the petitions themselves never really

got answered by the white house

or the government but something to

consider is when we have these petitions

they do get media attention

and that media attention tends to get in

front of congress so remember

what you want to do and i've got it

written down here what you want to do is

you want to go to medkkevin.com

2k all it is is a redirect and it's

going to send you to that change.org

petition so that way if you want to sign

a petition you can do so

but keep this in mind right now neither

the american jobs nor the family's plan

includes any form of a stimulus check

this obviously comes to

well the downside of many americans whom

the recovery has not reached yet

remember that a lot of us when we got

our first stimulus check we spent 74

of it on household goods just to get by

well the second and third stimulus check

50 of us use that money to pay off a

debt

and this has led republicans to say we

probably can't get another fourth

stimulus check now

maybe democrats can get pressure to do

it on their own but so far

all we have from republicans is

mcconnell saying quote i can't imagine

the economy is going to need a fourth

round of stimulus checks

and we have democrats many of them

pushing for a fourth stimulus check

but so far joe biden has kind of been

ignoring the calls on it

so this gives us a full update on the

state of not just workers but also the

child tax credit the dependent tax

credit

and the fourth stimulus check if you

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thank you so much for watching the video

and folks we'll see in the next one

you