Stimulus package Predicted Second Stimulus Package Details Analysis
Keep in mind they’re still negotiating a lot of this, but this video is going to give you a better idea on what to expect. So hopefully, you guys stick through the whole entirety of this video, because you’re going to be learning a ton of information of what is actually going inside of this package and how you can prepare for the things to come now to start off. The first most popular benefit that i’m going to mention is going to be the stimulus checks. This goes without saying, but it is very, very very likely at this point that second stimulus checks are going to be included in the next stimulus package. Treasury secretary, steve mnuchin went ahead and confirmed that the amount of the stimulus checks will be twelve hundred dollars off of the republican side and, in addition to that, democrats are in alignment with what the republicans are saying. It seems like the common consensus that we’re coming to with regards to the next stimulus check is that it’s gon na be the same amount, twelve hundred dollars and they’re going to keep a lot of the same requirements that they did prior in. The first cares act. So that’s going to be the 75 000 cap at the moment and in addition to that, all the things that we had to worry about when it comes to independent and dependent people, whether they’re viable, whether you’re going to get 500 or the full amount.
It looks like they’re trying to work through those details as well. I know there were a lot of confusion in the beginning. If you were someone young and you were listed as a dependent on someone’s tax returns, they would get an additional 500 under your name, but you will not receive the full amount. So it’s little things like this that they’re going to clarify within the next few days of what’s, going to go inside of the next stimulus check. But at the moment what we can confirm is there is a very high likelihood that there will be another stimulus check with the stimulus package and the stimulus package is something that they’re debating right now. So let’s talk more about the broad scheme of things. Let’S take a step back. We got stimulus checks, but what else is going inside of the overall package so for the second benefit, one of the most popular things that many people are asking is unemployment boost benefits? What are we doing with that now? As you guys know, there are 30 million people signed up for the unemployment boost benefits. We’Re, not even gon na have to do the math to realize how extraordinary of an amount that is it’s not 600 per month either. This is 600 per week. If you’re getting the full benefit and all 30 million people are qualified for this, we can get a better idea of how much the government is losing out and how much benefit people are actually getting now.
Unfortunately, the unemployment boost benefit actually ended. This past friday, i’m. Not sure when you’re watching this video, it could literally be friday or you could be watching it – maybe like 10 years in the future, because you’re really bored and somehow this video came up weird aliens – i don’t know hopefully we’re still alive by then what republicans are Doing right now is they’re trying to come into a middle agreement. So what is a middle agreement right now think about kind of like a gauge or like a gauge on your vehicle and it’s going up and down so 600 is the top of the gauge zero dollars is at the bottom. They want to meet us right in the middle and it looks like it’s going to be around 200, maybe 300, for the additional unemployment boost benefits. The whole idea behind this is that 600 is still an incentive to keep people out of work, but i’ve mentioned before on my channel. This is a misconception you do not just say to your employer, hey billy, i know i know. Applebee’S has been going crazy right now. I know you guys need the extra hand, but you know unemployment boost benefits are 600 right. Now. I think i’m gon na sit this one out for the week. Let me make sure that uncle sam pays me the more because you know i don’t want to go to work and i’ll get paid more going here.
It doesn’t work like that. You cannot voluntarily apply for unemployment boost benefits. If your employer did not, let you go or did not tell you that you cannot come in now, there’s ways to work around this say: you’re very sensitive and you don’t want to get sick or you know. Maybe you just recently got tested, or there are vulnerable people within your family, that you go home to every night and you don’t want to risk it. Each state has their own rules and implications on how to get approved for the federal boost program. All i’m gon na say is this there’s a lot of people that are under unemployment boost benefits right now, 30 million people and it’s gon na be very difficult for the government to go through each single person to verify whether or not they’re actually eligible for something. Like this, if you are not feeling safe enough to go to work and you’re at home right now because of the pandemic, which is completely out of our control, make sure you take advantage of all the things possible out there. Okay, make sure you’re taking advantage of any future unemployment boost benefits that we receive in the future if your unemployment boost benefit has not kicked in yet what that means is you’re gon na get it all in one lump sum, so i’ve had friends who are getting Seven thousand dollars worth of unemployment boost benefits for like the past three four months, they didn’t receive anything, and i know multiple people who are just receiving multiple thousands of dollars worth of unemployment boost benefits.
So i understand why they’re trying to reduce the amount on this because i’m, seeing firsthand within my own life of people actually getting a lot of money from this all i’m gon na say, is a youtuber okay, disclaimer, no, not a financial advisor anything just a random Dude on youtube make sure you guys take advantage of all the things here. I want you all to benefit from this and i don’t want anyone to miss out on all the additional stimulus and free money that the government is giving to their people, and i know the argument. Oh brian it’s, not free money. This is our money it’s our tax pay, whatever it seems, free because we’re not paying for it and it’s coming into our pocket right. Okay, so the opposite of unemployment. Boost benefits it’s going to be for people who have to return back to work, whether you’re, a frontline worker working in the hospitals, you’re a nurse you’re, a firefighter or maybe you’re, someone just working a regular job, but you don’t feel safe. Yet going back to work with all the increase in cases do these people receive any additional benefit with the next stimulus package? At the moment we have not heard any additional news with return to work, benefits or boost, but what we’ve seen in the past from senator rob portman from ohio is that there was a proposal for 450 a week cash on top of your regular paycheck.
So there has been word about this. There was circulation with news like this in order for people to receive extra money if they’re going out to work. So if we do see extra unemployment boost and if we see extra money, if you’re going back to work, i think it really cancels each other out and at the end of the day, it’s gon na be additional stimulus for people have money in their pocket. In order to get through these very tough times now, that would be the third benefit. Let’S talk about the fourth one, and this is going to be liability between businesses, and this is a pretty interesting one. So businesses, hospitals and schools would receive five years of liability protection. Retroactive to 2019 liability protection is expected to be included in the republican stimulus proposal. What does this all mean so here’s a good example. If i went to applebee’s, i don’t know why we keep using them as an example: i’ve never been to applebee’s, say i’m, someone who went out to just one restaurant for the past few months and it was applebee’s during that time. That’S. The only time say i got sick and i caught some type of pandemic inside of my veins. This liability protection would prevent me from actually being able to sue that business. Now, if we’re able to put this liability protection on businesses, it prevents people from going. After all these small businesses and targeting them and putting the responsibility on them, this makes it seem like i have my own responsibility of not getting sick.
So if i decide to go out to the bars or if i decide to go out to this restaurant and i get sick, i cannot go out legally sue everyone and then imagine that times a million with every single person in the u.s doing that because they Got sick, something devastating happened to their family: they don’t know what to do next and they just want to go after someone. This is gon na put more responsibility back on the people, so knowing i cannot sue people if i get sick for something during this pandemic, it means i will be more careful as a citizen and not look for trouble thinking. I can get some type of reward out of a lawsuit, so i hope that makes sense. I think this is actually personally a very good idea, but i do see a lot of corporations taking advantage of this. Imagine if you’re a very fraudulent business or bank. If you have liability protection because of this pandemic and you’re already doing things that are shady, this is gon na, be like the best thing ever for you now that we’re on the topic of businesses, let’s talk more about small business assistant or support that we should Expect from the next stimulus package as well, the pvp expires august 8th and what the government is looking to do is to include more funds within the ppp and go ahead and extend it. As you guys know, there was a lot of success with the pvp.
A lot of people did apply for these funds, and this is something that did provide a lot of support to our small business owners, which are really the foundation or the bricks to this country. To our economy, so things like the ppp to many, it may just seem like a band aid, especially if you’re not a small business owner, but to the people who own their own small business, you’re a freelancer, independent contractor sole proprietor, or you own, your own company. You will know firsthand of exactly how beneficial the ppp actually was. I wasn’t able to find any word on whether they were gon na extend the eidl grant, and this is pretty much a free 1000 grant that you did not have to pay back to the government. That they’re pretty much handing out like candy to many people and a lot of the people that watch my videos back a few months ago, when i talked about this, were able to get a free one thousand dollars and a loan that you could either cancel or Say all right, let me let me get approved for this. Let me accept this loan. I’M, not exactly sure. If they’re going to refund the e, i d l in my opinion, i would expect them to do so, especially if they’re going to do it with the ppp as well, because many times in the past, while they’re funding ppp eidl, has always had some type of Funding, even if those 1 000 grant portion went out, they ran out of money.
They still had funding for that because, at the end of the day the eidl is a program. That means the government doesn’t lose out on anything you’re getting a loan from the government. That means you have to pay that money back at some point and they’re earning interest on that money. So the sba they’re pretty much just raking in the cash there’s, nothing. They would lose at all, so i don’t see the eidl going away anytime soon. What i do expect is that we will get additional funding from the government. If we do see the heroes act getting passed, we should see additional support within the small business sector of things. Now there are two more benefits i want to talk about with the next stimulus package if it gets passed. This is student loan forgiveness. So i know a lot of americans are either dealing with student loans, or you know someone who has student loans, or maybe you are still trying to pay it off. Student loan forgiveness was something in the topic. I don’t think they’re going to provide some type of student loan forgiveness where you know like they just wipe away ten thousand dollars worth of your loans. I just don’t see that happening. I’Ll be real with you guys, but what i do see happening is they’re gon na extend a lot of the benefits forbearance deferment, those options that many people are naturally seeing so whether you have 50 000 worth of student loans or 300 000 worth of student loans Or even a couple thousand dollars, we should still get a lot of support within those independent carriers who we give our loan money to say, it’s, sallie mae or whoever ed financial, whoever you guys are with.
They should continue to do deferments and forbearances with that make sure you know the difference between deferment and forbearance, because many people get them mixed up and then they realize. Oh, my goodness. Why do i have to pay like 20 000 at the end of the year? I thought i deferred it. A lot of people are getting those two definitions mixed up. Please look it up. Please do your due diligence and know the exact terms. This is not just towards student loans, but this goes towards. Banks mortgages credit cards too, so you really need to know these terms, so you don’t, get screwed by the banks or by student loan collectors or debt collection companies because think about it like this, these guys are going to be collecting so much interest and so much Late payment fees that they’ve pushed back for the year of 2020., so i really want you guys to stay on top of these things know your terms and at the end of the day, you should be good. If you read the fine print – and you watch videos like this and you know, while you’re watching drop a like don’t, forget to drop a like okay, last but not least, pandemic testing. This is definitely a very critical part, even if many of you guys don’t care about it. You really should, because this is going to be very important, deciding what’s going to happen with the future, especially once we move into things like.
Oh, the wave 2 of the pandemic and things are going to get crazy world war, z, style, here’s. What we know so far. The total amount is gon na be 25 billion dollars for testing and contact tracing testing for the roni. That is pretty straightforward, but contact tracing is going to be another very interesting thing in order to slow down the spread of the pandemic. So if i don’t want to say virus that’s, why i just said pandemic like in a slow way, because i was about to say virus, which i already said: virus probably got demo and now no one’s gon na watch this contact tracing yeah. I i got an email from my state of maryland that they’re gon na start doing this too you’re pretty much going to get a phone call. What they’re looking to do is have a number that just says, or name that comes up it’s like contact tracing in whatever state you live in and they’re pretty much just going to connect with you and let you know someone you know has had the virus or Come in contact with the virus and pretty much it’s going to be a way to slow the whole thing down. In order to do things like that, you need a lot of people working it’s, pretty much like little mini investigators or little mini detectives, or even like little mini like shaggy scooby doo like characters like you can stay at home.
You get paid an hourly wage. You figure that out and they need a way to fund that in order to slow down the pandemic in order for people to get back to work, and so we can go back to our quote: unquote normal lives that, personally, i don’t know if that’s ever gon Na happen again, but trying to stay optimistic about the situation, we’re, getting additional stimulus, they’re talking about releasing the next meals package and all the contents of this i really like. Now there are a couple things i didn’t talk about purposely in this video that’s going to be state and local aid, they’re really debating a lot of that. Whether or not state and local governments still need additional federal support because they should have budgets and it’s not fair. For the entire federal government to disperse money to individual states. One state could be balling out, while the other state could be absolutely dirt. Poor negative 20 billion dollars because of that new highway. They built it’s, not fair for them to allocate state and local government budgets if they’re, not sure exactly. If that independent state is going to use that properly or if they’re, just going to put it towards debt. That they may not have agreed with since the beginning, there are going to be a ton of other things within the next stimulus package within the next heroes act. Let us not forget. When the heroes act first came out, we’ve had bills that were at least a thousand pages long.
So you know they got to condense, a lot of things and all the things i talked about, like the main six or seven things that’s. Just the icing on the kick there’s, so many different layers that go underneath of what actually goes within a one trillion dollar stimulus package, a lot of money in there a lot of different sectors, and really this is what the debate and what’s going on at dc – Has been about it’s, trying to figure out what’s going to go where if this money is fair to put into here, it’s a lot of confusing stuff i’m not going to lie i’ve. Never. I feel, like i’ve said this before on my channel. I feel, like i’m back in school, like continuing to do research every single day trying to figure this out, but hopefully i was able to do a good job at just breaking down the things that you need to know that you should look out for so. Like always we’re looking for this to get passed on august 7th, that is the closing date. If it doesn’t get passed until august, 7th it’s gon na get pushed back a little bit and we should see a significant delay. So we are crossing our fingers. Hopefully, two weeks from now we should see the stimulus package getting passed. That is gon na, be incredible news. We will have the checks slowly after that on average. I would say two weeks right after that, so things are moving.
They may not be moving very quickly. Our government is so effing slow, it is stupid, but we are moving just at a very, very, very, very slow pace so guys. Thank you so much for watching this video. If you’re watching this video up until this point, i know it was kind of a bit. You know of a little longer video than usual, but i really do appreciate you guys watching it till the end, and hopefully you guys are able to get something out of this. Like always, don’t forget to drop a like on this. Video seriously does support the channel.