Stimulus check 2nd Stimulus Plan Updates [July 27]
m, pacific standard time or 4, 30 pm eastern standard time. This will be the republicans version of the heroes act and congress has never been late so set your time in the meantime. Here are the most important updates on stimulus and the markets as of this morning, monday july 27th. First, there are new suggestions that we may see a 450 back to work boost or some sort of raise for working, we’re, not sure if that’s coming, the only raise for working we’ve seen was in the heroes act, which would give essential workers 13 more per hour. Up to certain limits and we’ve seen a back to work boost of 450 dollars by senator portman, but we’ve seen nothing about that until larry kudlow suggested some sort of back to work credit. Yesterday morning now this is unconfirmed but it’s led to a media frenzy. In numerous articles suggesting that we might see a 450 back to work boost i’m, not holding my breath because i’m, not seeing any evidence of this just yet other than larry kudlow saying it. Although larry kudlow’s never been wrong, he said that we’re in a v and that we’re definitely going to have a payroll tax cut, except neither of those things seem likely to be happening. We’Re also not sure. If we’re going to see an update to the e.
I d l included in this package, which would finally give small businesses ten thousand dollars, rather than the one thousand dollar grants we were able to apply for next.
The big question is whether or not stimulus checks will make it into this bill, or, if democrats are going to have to try to negotiate it in that is, maybe republicans will come in so low and they’ll try to basically hand democrats a win by saying ah Well, we let you get the the stimulus checks such a battle to help the american people it’s really sad, larry kudlow says the next bill will include the check, but we already know our thoughts on larry kudlow. He also says we’ll see an eviction ban extension, no idea when, however uh we do know that the white house does want the stimulus checks. I am expecting this bill to be very disappointing, though, and i wouldn’t be surprised if we have a very grueling week, as republicans try to run down the clock on democrats. Remember we have this week and next week to get this done before. Technically we have yet another recess, nancy pelosi and chuck schumer. Both say that a partial bill won’t happen that they will not leave work until a complete bill is done and they’ll even consider. Canceling recess yesterday i gave an outline of 12 things to expect in the next bill. I’Ll link that video down below or you could go on my channel and see it uh, and i share your frustration in the comments that essential workers appear to who have been completely forgotten uh.
This is very, very unfair.
In my opinion, the people who have been working throughout the pandemic on forbearance most forbearance plans are still open, which i encourage you apply for, for example, mortgage forbearance does not expire until four months after the national emergency ends, which we’re not even close close to that On unemployment, democrats are now defending their rationale for having chosen the 600 per week unemployment boost, even though it pays some more not to work. They argue that the amount was the easiest and most fair, even though some people got paid more, some also got paid less than they needed, but this was much easier to implement quickly. That was the argument. Obviously, the unemployment boost has received much more criticism, though, than the ppp loan program where business owners received payroll protection money and now technically those businesses don’t have to spend the money on payroll thanks to new loopholes passed in phase 3.5. Furthermore, all eyes are currently on senator mitch mcconnell and whether or not he has finally signed up for life insurance, which you can do as well in as little as five minutes via the link down below you can also android and apple pay, for it very easy To sign up for and hey at least get a quote and see what the pricing would look like. It might surprise you senator mitch mcconnell’s office. Currently, states quote this is not over america’s fight continues and so congress’s support for our people must continue as well with this preview mitch.
Mcconnell has also suggested that there are going to be multiple parts for the next bill and that they’re going to be written by different members of the finance committee. Chairman grassley is well he’s, the chairman of the finance committee, and he will introduce the combined package at 4, 30 pm eastern time today. This package is being put together along with these senators, listen to these names and see if you notice anything in common senators, alexander collins, rubio, shelby, blunt cornyn and romney. There are only two things that i see in common here: one they’re, all republicans and two. They all love recess on the markets. The fed is also warning that they might have to do more to bring this crisis in control from a monetary point of view, if we can’t get the public health crisis under control, especially as the fed worries that jobs added in may and june, and the rate At which we’re adding jobs may not keep up the fed also says, even though everybody thinks they’re all powerful with the money printer, the fed can’t do things like fixing supply chains or getting people to fly on airlines anymore. Meanwhile, rv sales are way up. Winnebago stock is up. Recovery stocks are down like the retail and restaurants and we’re close to a buying opportunity on lemonade. Again, i think nicola finally hit its bottom at just under 30, which was my recommendation to potentially buy in the 20s we’re just now a bit above that so we’re still close uh, although i do still prefer tesla significantly over nicola treasury yields are down and the Dollar is down which can help trade competitiveness and in covet news, the ceo of salesforce shared research from fortune and other information.
That said that 67 percent of americans now wear masks, and this is up from 50 54 in may it’s. A 13 percentage point increase. He also cited research saying that if eighty percent of us wore masks the pandemic would be over in a month, the world’s biggest covet vaccine test just got started on monday, with thirty thousand volunteers. Additional volunteers now hopping on this is the moderna vaccine, whose stock is also up today. Some by the way are getting placebo shots, so they are being told not to be careless. The world health organization also called the coronavirus pandemic, quote easily the most severe global health emergency ever declared by the un agency and warned that it continues to accelerate. In other news, papa john’s has announced that it’s going to hire an additional 10 000 employees. On top of the 20 000 employees that they’ve already hired, they want to make it quick and simple for you to apply and get in and wait for it. They make it very very clear that a college degree is not necessary. So if you had a college degree and think that you’re going to be the next best, tony spinning pizza, pies, well you’re going to be doubly disappointed. All pizzas are going to be made in a contactless manner and you don’t need your college degree. Thank you. Everybody for watching, please consider subscribing. I will give you plenty of updates today and tomorrow, as we get this next bill, and i start going through it, along with everybody else, who’s going to be going through it.
I cannot wait to share the details with you and folks. Stay tuned.