$1,400 Stimulus Check Update! [March 10]

hey everyone me kevin here here's the

latest on the next stimulus package

currently at the time of this recording

congress is debating the amendments in

the house of representatives

for the next stimulus package we do

expect the house of representatives to

vote

today and officially pass the next

stimulus package

then joe biden is expected to sign today

or tomorrow

which will lead stimulus check payments

to go out this

month at least the first few batches

jensaki the white house press secretary

says they're working to speed up

electronic payments from even payment

well certainly since payment one but

even since payment two

they're trying to speed this up

especially since more and more people

have now filed their 2020 tax return

which will actually include hopefully

updated banking information

so the first batch of checks will be

going out to people who have filed their

2020

tax return with their banking

information they'll be getting direct

deposit through that

if 2020 isn't available of course 2019

will be used

then of course they'll be using data

from the non-filers portal

to send out additional payments all

expected

this month then after that once they go

through these batches

then they're going to work on paper

checks and those checks

might end up coming later this month or

potentially falling into

april so certainly if you have your

direct deposit information on file with

the irs you'll be getting your check

just like the previous checks faster

than the

mailed system especially since the mail

has been so slow lately it's been pretty

bad

but anyway uh joe biden will not have

his name on the next stimulus check

jen sackey says this is because biden

does not want to delay the stimulus

checks

and a priority is speed not advertising

joe biden many of you have also been

asking in the comments

about block five because i mentioned

block fight yesterday where you can get

paid like up to eight percent on your

deposits

uh your your savings deposits at block

fi the cryptocurrency based

uh accounts you can go to medkevin.com

bf now and actually sign up there

these sign ups were down yesterday

because so many people were trying to

sign up but it's back up and if you

deposit money with them you can get up

to 250

totally for free by signing up at

medkevin.com bf for block 5.

furthermore a 70 of americans do support

this

stimulus package with 41 percent of

republicans supporting the package per

pew research

inflation readings today should actually

help support

these uh stimulus movements inflation

readings today came in pretty dang

benign

lower than expectations energy prices

and food prices were up

but other factors kept inflation

readings low

we do think there'll be some temporary

boosts in inflation over the next few

months

certainly as we get marched out of april

data and may data

as we compare to the pit of last year

when

we basically almost had deflation we had

a lot of low inflation readings it was

pretty bad

but certainly today's reading will help

sell

the stimulus package although at this

point we should be able to get it

through without

any extra selling this debate will end

congress will vote

joe biden will sign and then we will be

on to the infrastructure package which i

want to make this very clear because

there were some comments yesterday about

this yes

the infrastructure package is separate

from the stimulus package

this american rescue plan is expected to

pass today

and probably get signed today or

tomorrow and then in the future over the

next two or three months we'll be

discussing

the infrastructure package probably the

buildback better plan

we'll see also uh there have been some

questions

uh some questions regarding mortgage

forbearance and some other items

unemployment let's touch on some of

these

uh somebody asked kevin can i get

mortgage forbearance on a new home i'll

be closing in april

it depends technically when you go

through a new

loan process you have to prove your

ability to repay today so

if you're going in to buy a place

expecting a mortgage forbearance right

away you might run into some roadblocks

but it depends on your lender and what

they make you sign some lenders make you

sign saying you will not

that is you agree to waive mortgage for

grants you will not take mortgage

forbearance

if you don't sign something like that

technically you'd be eligible so pay

attention when you sign your closing

documents

another question came up about the

extension on the eviction protections

the eviction protections are not being

talked about in this bill that is

correct however joe biden

is sort of manually extending eviction

protections by executive order so right

now

we don't have any urgency on that like

we do on unemployment for example

somebody else asked i didn't make enough

money to file a 2019 or 2020 tax return

use the nine non-filers option last uh

last time and receive the first and

second check

will you qualify for the third if your

situation is the same and you're within

the same income guidelines

uh which which in this case you're not

making enough to file a tax return as

long as you're within the same

guidelines

i don't see any reason why you would not

qualify for the third stimulus check

so you should see that through the

non-filers option as well

is there anything in the a rescue

package about utilities yes

the rental and housing and utilities

section

all has to do with homeowner and renter

relief so i recommend going to your

department of real estate website your

local housing and urban development for

your county

and asking for housing assistance rental

assistance

rental assistance includes utilities

assistance

there's also a lot of confusion about

the ppp still

remember there's a new rule change that

just came into effect that says

if you are trying to file for the ppp

which yes gig workers like doordash

can apply for the ppp even if you have a

normal job elsewhere you can apply for

the ppp

for your business uh you do not need an

income decline for

the first ppp application for the second

ppp application for the second round

you do need an income decline but yeah

if you're a gate worker apply for the

ppp

there's no reason not to even if you

have a negative net income or you've

lost

money on your small business you can now

apply using your gross

income in calculations google this uh or

type into youtube meet kevin

ppp changes and i fully explain all of

the changes from about a week ago

that have taken place with the ppp and

how you can now apply

with your gross income which makes a

whole lot more people eligible

and an easy platform that i found to use

is actually cross

river veeam is now redirecting their

applications to cross river and you can

find that by going to medkevin.com

veeam victor echo echo mike veemv eem

uh so medkkevin.com that will redirect

you over to cross river

they make it so freaking easy to apply

these days it'll take you like 10

minutes

but again gig workers qualify yes the

cobra extension a few questions about

this

yes so cobra will be extended 100

that is the government will pay 100 if

you lost your job

due to the pandemic and they will cover

your health insurance payments through

september

30th and that is within this bill which

is very good

uh unemployment i know we a lot of us

are anxious to take advantage of that

ten thousand two hundred dollar

uh exemption from income taxes for

unemployment pay for 2020.

the irs is probably going to issue

guidance within the next two weeks on

that

so i would wait and expect some guidance

by the end of the month on that

uh so i would stand by on that uh and so

that is the current update so thank you

so very much for watching get your

free 250 dollars with blockfly go to

mckevin.combf we'll see when this

package passes today fingers crossed

this gets done today we don't see any

kind of crazy hold ups on the vote

and folks we will see you all later

thanks for watching bye

[Music]

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