$1,400 Stimulus Check Update [March 4]

hey everyone meet kevin here the senate

has agreed to begin debate on the next

stimulus bill the senate's version of

the stimulus bill of course

caps the eligibility for stimulus checks

to 80 000

per a single person and 160 thousand

dollars as a couple after which you get

zero this reduces those eligible for

stimulus checks by over 17 million

according to the washington post 11.8

million fewer adults and 4.6

million fewer children will get stimulus

payments under

this new modification obviously the 15

per hour minimum wage has also been

stripped

however before beginning the debate on

this stimulus package

we are now required to listen well i

guess we don't have we're not required

to listen to it the senate is required

to read the entire stimulus bill and

that

they are currently doing senator ron

johnson

wants the entire 1.9 trillion dollar

bill read out loud it is about 628 pages

which means every single page that gets

read is worth about three billion

dollars

republicans are attempting to stall the

stimulus bill as much as possible to

increase their leverage

in the amendment negotiations so far at

the time of this recording the senate

has spent three hours reading the bill

and they've gotten through about 156

pages the entire bill could take

up to 12 hours at this rate to read in

full

currently the only senator actually

present in the senate

is senator ron johnson the one who wants

to listen to the whole thing being read

out loud

the house of representatives is shut

down today due to a security threat but

the senate is working while

reading the bill out loud and slowly

making progress on beginning debate on

the actual stimulus package

voterama is the event that is now

scheduled to begin on friday

instead of today due to the delay for

having to read the bill out loud

representative eric swalwell a democrat

calls this a

stunt in the meantime reporters have

discovered that one republican senator

lisa murkowski may vote for the stimulus

bill

her goal is to wield her willingness to

vote for the bill as a way to get some

of her priorities in the bill

this means that even though all eyes are

on democrat joe manchin

to make sure that he votes for the bill

because remember if we lose just one

democrat the bill doesn't go through

lisa murkowski is seeing this as an

opportunity to basically be a really

good backup strategy hey if joe manchin

wants to hold firm

well then just give me my priorities and

i'll give you the vote you need classic

congress

and this is very important because dick

durbin said today that we still haven't

secured the 50 democratic votes

so having this republican option open is

possibly not a horrible thing

also the senate parliamentarian removed

nancy pelosi's pet project of receiving

100 million dollars of funding for the

bay area rapid transit system known as

bart

the system is desperately in need of

funding but the parliamentarian removed

this

from the bill she also removed 1.5

million

for the seaway international bridge in

schumer's district

nancy pelosi's office has responded this

and said essentially

hey great now republicans have no reason

not to vote for the bill

you may as well vote for it now because

the one thing you were complaining about

nancy pelosi subway is now gone not

getting funding

obviously most republicans still plan to

vote against the stimulus plan though

now regarding timing the 20 hours of

debate for this stimulus bill are set

to begin on friday and republicans are

already threatening

to propose hundreds of amendments which

each get debated and

voted on this is a delay tactic it's a

way for republicans

to not only draw out this process

and try to get concessions from

democrats by offering to shorten the

amendment process

hey look we'll propose less amendments

if you just give us this

very very common usually democrats don't

go for the amendments they've gone for

some but very very few so far in the

house we'll see what happens

in the senate and this by the way is

also a way to ambush

democrats with politics see

this amendment process actually becomes

a great campaigning tool for 2022

some actually suggest that donald

trump's campaign teams are potentially

involved in this amendment creation

process

to purposely come up with politically

charged amendments in a way to corner

democrats

for example on the house of votarama

which was the house version that's done

now we're on the senate version

in the house version for example house

democrats

were asked to accept an amendment that

would have potentially included more

fraud protections

for unemployment pay however doing so

would have imposed more procedural

hurdles or burdens on individuals

receiving unemployment

and that could have potentially delayed

those individuals actually receiving

unemployment

and democrats wanted to prioritize the

speed of this unemployment system

and using the new safeguards they

already have in place therefore

democrats ended up voting against

more fraud protections in the

unemployment process and

now republicans immediately took that

information to social media

and said democrats just voted against

fighting fraud in

unemployment this is classic politics

democrats do it to republicans

republicans do it to democrats that's

just the name of the game on capitol

hill

donald trump by the way on youtube was

suspended today

for just the potential that he would

post a video and potentially incite

violence on capitol hill given the

rumors that

there would be a capitol hill attack

today discussions are also

beginning on an infrastructure plan

which could be as large as 3

trillion dollars which is about 50

larger than the current stimulus package

biden hosted a bipartisan meeting today

at the white house to talk about

infrastructure

and republican representative sam graves

says there's no way he's going to vote

for this infrastructure plan

if it raises the deficit graves also

said there's no way this bill is going

to get done through budget

reconciliation

meaning that in his opinion 10

republican votes will be required in the

senate to get this bill

done bydon views infrastructure as

critical especially

since guess which country is beating us

on infrastructure

china in a big way they're pouring

billions of dollars into infrastructure

and biden wants to size him up with

trillions of dollars of money printing

meanwhile the american society of civil

engineers raided u.s infrastructure

at a d-plus in 2017 they did revise

their

estimate upward currently to a c minus

which uh isn't anything to cheer about

and pete budej

says that currently raising the gas tax

is off the table

at least for now at the same time the

market is in turmoil the fed refuses to

fight the bond market

the fed does not want to say the bond

market is wrong for spiking and by not

wanting to counter this fight

stocks have not only sold off terribly

today but they are continuing their

sell-off in after hours

gold broke support as well not actually

showing any kind of safety net here

gold is now below 1700 per ounce falling

from its 1950

high at the start of january folks if

there's anything i can suggest during

the downtime

that you've got at home take a look at

my programs on building your wealth in

the links down below use coupon code

hodl

and we'll see you in the next video

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