The Latest on the $1,400 Stimulus Check Package [Update]

hey everyone me kevin here here's the

latest on stimulus biden met with

governors and mayors today in the oval

office saying it's up to the federal

government

to step up and provide more relief janet

yellen the new treasury secretary says

quote

the time to go big is now as she

reiterates that she wants more stimulus

in fact she was in front of world

leading economists

saying we just need to print some more

money and we now have economists

saying this is not a stimulus package

this is quote

retroactive social insurance

man these people know how to talk and

talk and talk

well we do have some recent details

though that i do want to share

for veterans it looks like 17 billion

dollars will be going to the department

of the va 13.5 of which will go to

healthcare

and just under 1 billion dollars will go

towards developing facilities

on small businesses it looks like 7.25

billion dollars will go to expanded

eligibility for the paycheck protection

program

to include some regular businesses

nonprofits

and media companies and 15 billion

dollars

will go to add money to the sba's

e-i-d-l

pot now don't get too excited the

e-i-d-l

pot seems to be solely focused right now

on

targeting lower income individuals for

the full ten thousand dollars in phase

one phase one or the people who

have previously applied then they'll

open up

targeted eidl grants of up to ten

thousand dollars to people who have

not previously applied but are now

eligible to apply

the odds of this ever expanding again to

people who are not in

low-income communities that is

communities with greater than

twenty percent poverty and who have

suffered a 30

economic decline through this pandemic

probably not going to see these eidl

grants

it's frustrating the sba sucks but

anyway

more money will be going into that pot

for the people who are

eligible now that is good news for those

people so i am happy for those people

obviously i expressed my frustration for

everybody else

because the sba did suggest that we were

supposed to get ten thousand dollars no

matter what our income was

anywho 25 billion dollars will also go

to grants for restaurants and bars

185 million dollars will go to states so

they can distribute that money for

businesses

and overall 50 billion dollars will go

to fema

30 billion will go to the transit

administration 8 billion will go to the

faa for airports and 1.5 billion will go

to

railroads these items of course are some

of the

more recent fine-tuned amounts that will

come

on top of of course 1400 stimulus checks

to adults and adult dependents and

adults children or young children

doesn't matter

any dependent will get the 1400 checks

still no clarity though on garnishments

or itin families so we are desperately

waiting for that detail

400 in unemployment has made it through

the current revisions

through august 29th still not sure if

this is going to get extended through

the end of september

the three thousand dollar tax credits

for children

and thirty six hundred dollars for

children under six years old

are also included if you want more info

on this the easiest way to try to break

this down

and understanding the 4 000 child tax

care credit as well

is check out the stimulus video with the

date february 11th in it there might be

two so check for the second one the

later one in the day

i think it says changes in the title

look for that one it's going to give you

a whole lot more insight

on these credits and how you know what

the differences between the stimulus

check the child tax credit

and the child care credit it's a mess

that'll explain it in detail for you

additionally multiple house committees

have already approved their parts of the

1.9 trillion dollar package so they have

finished their work they're done

these committees include the

transportation committee the education

and labor committee financial services

the house ways and means committee small

business committee and so on

though we're not done yet we have

multiple more committees to go

like judiciary homeland security energy

armed services appropriations

agriculture and there are actually still

more but i'm not going to list them all

so yes there is still work to be done

and obviously the goal is

for nancy pelosi to get this all done

with her committees between the 18th and

19th which would be next thursday or

friday

which means maybe the house will be able

to hold their vote on monday february

22nd

to send this over to the senate now

there is currently talk that the senate

may just try to rubber stamp the house

bill without going to committees

to save time they say that this might

happen because there's such a tight

deadline between

february 22nd and march 14th which is

the

unemployment deadline that is coming up

now uh it's

surprising that they're still targeting

march 14th because whatever date

congress likes to target i usually think

they're going to miss it

which is a little bit concerning but

anyway the way

here's how this could work in theory

basically schumer could say hey

y'all listen up this is the bill we got

from the house we're good with this

right you all good with this they do a

private meeting and they go y'all good

y'all good okay we're gonna do a vote

and then they go to have an up or down

vote basically y'all in favor good yes

oh no republicans want a roll count okay

fine

and then somebody reads out the name

schumer hey

okay uh rand paul nay okay and then they

count they add up the votes it'll be 50

50.

then we'll get camillaris to come in and

she'll pass it unless of course somebody

like kristen cinema or joe manchin says

not so fast we want our committees to be

able to go through these bills or even

in theory

other senate democrats could say we want

our committees to go through this

see what the senate might be trying to

do is just basically take the house

version

go we good any any quick minor

amendments we can make

this will look like or be called a

schumer bill in the senate because

it's basically him just going to go hey

anybody want to make a quick revision no

okay good pass it up vote done

i don't know if that's going to happen

because what does it cut out it cuts out

all of the committee meetings

which we're having the house right now

cuts out all the committee meetings in

the senate

which is where every individual senator

republican and democrat

can propose amendments try to make

changes get their verbiage in there

once they make changes then it goes back

to the house and gets re-voted on

that whole process could in theory take

three four weeks

so if they don't skip committees there's

there is a chance we miss the march 14th

deadline

if we do skip committees great the

stimulus will come sooner but it's still

going to be

like march 14th now who could

reject this up down vote well

we could see a rejection from kristin

cinema and joe manchin they're

super anti the 15 minimum wage in fact

kristen cinema was interviewed by

politico

and today politico published that

interview that story

and reiterated how just today she's anti

the 15

minimum wage of course the 15 minimum

wage is part of

the house package that's going to be

coming now

maybe schumer will look at the package

and go hey is everybody good if we just

take out the 15

minimum wage that could in theory work

if pelosi and schumer agree to take it

out

great but that would also go back on

pelosi's promise to get the 15

minimum wage in in other words it's all

a big mess

we don't know they're gonna try to save

time in theory they're probably just

talking about saving time

but i'm still not holding my breath for

this to all get done by the 14th

but this is some of the latest drama

that's going on today with a stimulus

package

and if you want some other drama but

still drama well you could watch the

impeachment trial or i could tell you

about something much more entertaining

the united states postal service

apparently all first class mail is

apparently now going to get

single tracked according to the

washington post which basically means

that first class mail instead of

arriving in two days locally

goes into the same three to five day

mailing window as all

other mail so in other words mail is

going to continue to be

slower fun fact at the end of 2020

only 38 of mail actually showed up on

time

maybe one day we'll all move over to the

blockchain and email

and then we won't have to deal with this

mail thing anymore

anywho that's the latest hopefully this

was helpful for you on a friday evening

here or if you're watching this on

saturday morning

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we'll see in the next video