FINALLY! Second Stimulus Package Update: Saturday May 9th

This is your Saturday May 9 stimulus package update. 📱Join My Chat To Talk: https://discord.gg/9SHDrvr ✅Join The Power Of Finance Investor Group: https://bit.ly/3aNRzAn

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Important Reminders
1. The IRS has sent out over 130M checks for over 200B dollars in just the last 4 weeks
2. IRS gave us a warning of May 13th as the last date to use the get my payment tool. After noon Wednesday, the IRS will begin preparing millions of files to send to BFS for paper checks that will begin arriving through late May and into June. 
Key Financial News
1. Mississippi and Florida are starting to open up barbershops and salons will open next week and gyms will open up in Mississippi despite their being a record number of cases on Friday.More than half of states have begun to reopen their economies or plan to do so soon. But most fail to meet criteria recommended by the Trump administration to resume business and social activities. One of the major criteria outlines in the plan is to have a downward trajectory of documented cases or of the percentage of tests that come back positive.
2. The monthly job/unemployment report just came out earlier today and it says that unemployment rate is 14.7% and 20.5 million people filed for unemployment which is by far the worst since the Great Depression. And the deterioration has happened with almost unfathomable swiftness: Two months earlier, the rate was 3.5 percent, a 50-year low.

New Stimulus Check
1. The House Democrats are finalizing their next legislative response to the coronavirus pandemic, a package that will propose another massive round of aid
2. There was a plan put proposed yesterday called the Monthly Economic Crisis Support Act designed to give everyone $2,000 /mo retroactively by Bernie sander and other representatives
3. Senate Minority Leader Chuck Schumer, D-N.Y., told MSNBC Thursday the next stimulus package should be “very big and bold.” “
4. “I think I can speak for our conference by saying we're not ruling out another package, but we think we ought to take a pause here, do a good job of evaluating what we've already done," McConnell said earlier this week regarding a potential second relief bill.
5. “Democrats have to do what they have to do,” Trump said Friday, adding that he was willing to “see what they have.”President Trump said Friday there was “no rush” to negotiate phase 4 of a coronavirus stimulus package, while top Democrats promised they were working on a new “Rooseveltian-type” stimulus bill.

SPECIFICS OF THE BILL
1. more than $750 billion in aid to state and local governments
2. another round of direct support to Americans
3. extending enhanced unemployment benefits
4. increase access to coronavirus testing
5. send money toward vote-by-mail programs and the Postal Service
6. provide safety protections for front-line workers who are at risk of contracting and spreading the virus
7. expand Americans’ access to broadban
8. They hope to have the bill ready next week.

PPP and EIDL
1. Business owners who received loans through the Paycheck Protection Program and don’t need it have until May 14 to return the cash by extending the PPP “Safe Harbor”.
2. After 8 weeks you need to apply for loan forgiveness. And once you submit that you will hear from them within 60 days.
3. The PPP Loan is almost out of money so make sure to apply for it. Remember that 75% for payroll and 25% for other expenses. He explained how the law says that businesses use the money for payroll now or eventually and then the loan would be forgivable.
4. Over 175B of this money has been used
#StimulusUpdate #StimulusChecks #SecondStimulus
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⚠️⚠️⚠️⚠️DISCLAIMER⚠️⚠️⚠️⚠️
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Видео FINALLY! Second Stimulus Package Update: Saturday May 9th канала Michael Wrubel