UNEMPLOYMENT, $1200 SECOND STIMULUS CHECK, & STIMULUS PACKAGE UPDATE 09/27/20 (CHECK APPROVAL)

UNEMPLOYMENT, $1200 SECOND STIMULUS CHECK, & STIMULUS PACKAGE UPDATE 09/27/20 (CHECK APPROVAL)

You will be receiving stimulus check in the month of October and in one of two ways and we will likely determine how within the next 3 days. So, as I said one of two ways so let’s discuss the first way…

Speaker of the House Nancy Pelosi and White House Treasury Secretary Steve Mnuchin are back to the negotiating table right now and they are working on an entirely new stimulus package. It is expected to be around $2.4 trillion in stimulus total and will include stimulus checks, along with enhanced unemployment, PPP funding and all the provisions we have been waiting for.

Members of congress are eager to see a bill passed before we enter elections because many of their seats are up for reelection.One third of the senate is up for reelection and the entire House of Representatives including Nancy Pelosi is up for reelection. So, they really want to make voters happy.

Also, pressure is coming from the airline industry as we are days away from their layoff deadline. In the last round of stimulus, they received a $25 billion bailout of stimulus conditional to them not performing mass layoffs of their employees for a specific duration of time. Well they are requesting more bailout of $25 billion saying they have seen revenue decline 85% and if they do not receive it, they will have to begin mass layoffs the first day they are able to on October 1, 2020.

Now let’s discuss the second way, which is also very likely and if the first way falls through, I would say there is a 99% chance we will see this unfold this coming week…

The Trump administration has accused Nancy Pelosi of stalling negotiations purposely to hurt President Trumps chances of getting reelected. They believe a stimulus package that helps the economy would help Donald Trump’s reelections chances, so she doesn’t want an agreement until after. Even now some are suggesting that she doesn’t really want an agreement on stimulus and that the stimulus package she is currently drafting with Steve Mnuchin is simply to appease those in her party that are currently upset with her by showing an effort to draft something but when she finally presents this new stimulus package this week it won’t be agreeable to Republicans in fact she has already increased the total amount getting further away in negotiations from what Republicans want to see rather than closer. We will see in the next few days if this is in fact true by Nancy Pelosi’s actions and what she puts forth in this bill.

If by chance the stimulus package she presents in not agreeable. We will very likely see President Donald Trump step in and issue executive actions immediately, I would bet this week. President Trump has already threatened congress that if they do not provide a stimulus package with stimulus checks that he will issue stimulus checks on his own without then. He has announced he has found 300 billion in unused Cares Act funds that he would reallocate for stimulus checks.

We do believe this is legal, because although congress holds the power of the purse and is in charge of issuing new funds, the president does have the ability to reallocated already issued unused funds. We have already seen him do this with the LWA program where he reallocated 44 billion from FEMA’s Disaster relief funds to the LWA program to enhance unemployment helping the 30 billion unemployed at this time.

. President Donald Trump is also up for reelection and his administration have said no one wants to see stimulus checks in the hands of Americans more than President Trump. This could be because he wants to provide aid and because it will help his approval rating in the elections.

So we will see whether we see checks through a stimulus package from congress or from executive actions from President Donald Trump. Let me know if you agree, and if so how you think we will see stimulus checks in the comments down below.

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