Stimulus Check Update | SSI SSDI Social Security VA | Second Stimulus Check Update | July 31st

This is your stimulus update and second stimulus check update for Friday July 31st.

For those on SSI, SSDI, Social Security, or receive VA benefits, this affects you as well as anyone waiting for the second stimulus check or unemployment benefits.

The US Economy shrank more in the April through June quarter than any other quarter in history.

Because of the pandemic and the related shutdowns GDP was down 33%, which made it the worst quarterly drop of all time.

Business Standard reports that:
The unemployment numbers aren't much better as more than 1,000,000 people have applied for unemployment benefits for 18 straight weeks.

And they also report that only about 1/3 of the jobs that were lost during the pandemic have come back.

As the virus cases continue to climb across the country, with some states starting to shut down again, things are looking pretty bleak.

So where does the House, the Senate and the Trump administration stand on all of this?

And how are negotiations going on the second stimulus check and the next stimulus package as a whole.

We know that the Senate finally released their stimulus bill this week, which was an approximately $1 Trillion dollar bill that included a $1200 stimulus check, extended unemployment benefits, but at a lower rate than $600 per week, as well as many other provisions.

The House of Representatives released the HEROES Act back in May, that also included a $1200 stimulus check, extended the full $600 unemployment benefits, however, at a price tag of over $3 Trillion dollars, the White House and the Senate said back in May that it was dead on arrival.

Speaker of the House Nancy Pelosi, when referring to the Senate, said this week: “We have to have a bill, but they just don’t realize how big it has to be,”

Many people have called for more money than the $1200 that both the House and the Senate proposed, including President Trump a few weeks ago.

President Trump renewed the call for a bigger stimulus check than $1200 when he was interviewed by an ABC Affiliate in Texas this week when he said:"It may go higher than that, actually, I'd like to see it be very high because I love the people, I want the people to get it."

The House and the Senate both have seemed to reject those pleas from President Trump as both called for a $1200 one-time payment in their most recent stimulus proposals.

In addition to calling for more than $1200...

The Chicago Tribune reports that President Trump said at the White House:
“We want a temporary extension of enhanced unemployment benefits. This will provide a critical bridge for Americans who lost their jobs to the pandemic through no fault of their own.”
And he added: "It has to be substantial"

Nancy Pelosi and Chuck Schumer rejected this proposal and don't want a deal unless it's a comprehensive one.

After a two-hour meeting in Nancy Pelosi's office, Treasury Secretary Steve Mnuchin said:
“On certain issues we made progress. On certain issues we’re still very far apart,” Mnuchin said after a two-hour meeting in Pelosi’s office. “The speaker and Sen. Schumer said — and we feel the same way — that it is our objective to try to reach an agreement that’s good for the American people.”

Senate Majority Leader Mitch McConnell said on PBS Newshour:“The economy does need more help. We have divided government. We have to talk to each other, And we have to try to get an outcome.”

Funding for States seems to be another critical sticking point between the two sides as the House called for $1 Trillion in State and Local government assistance, but the Senate called for more flexibility for the $150 billion dollars that was previous allotted, which hasn't all been used at this point.

It does sound like both sides want to reach an agreement, but neither of them are making any concessions at this point.

Will Nancy Pelosi and Mitch McConnell hold up the second stimulus check and the renewal of the unemployment benefits because of their differences?

They do both want a second stimulus check, which is great news, but they differ on so many other issues, it's going to be a very interesting week next week.

Be sure to subscribe to my channel to get all the latest updates as the House and the Senate and President Trump's administration all work towards a deal on the next stimulus package.

Remember, if a deal doesn't get done by next Friday, Congress is set to go on recess again until September, so we really need them to get that deal done as soon as possible.

This has been your stimulus update for Friday July 31st.

References:
https://www.business-standard.com/article/international/covid-19-us-economy-records-worst-quarterly-plunge-ever-gdp-shrinks-33-120073001577_1.html
https://www.chicagotribune.com/coronavirus/ct-nw-second-coronavirus-stimulus-check-updates-20200730-uohbtoqen5eahoty3bmaepazni-story.html

#stimuluscheckupdate #secondstimuluscheck #socialsecuritystimulus

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