$1200 SECOND STIMULUS CHECK & STIMULUS PACKAGE UPDATE 09/23/2020 (CR BILL PASSED IN HOUSE!)

$1200 SECOND STIMULUS CHECK & STIMULUS PACKAGE UPDATE 09/23/2020 (CR BILL PASSED IN HOUSE!)

Great news, our politicians finally agreed on something and yesterday the House of Representatives passed the stop-gap government funding bill to stop us from having a government shutdown on October 1, 2020. Now they can focus on stimulus and Leader of the Federal Reserve Jerome Powell and Treasury Secretary Steve Mnuchin testified before congress that we need more stimulus and we need stimulus checks.

An agreement for stop gap funding for the national budget was reached by White House Treasury Secretary Steve Mnuchin and Speaker of the House Nancy Pelosi. Yesterday the House of Representatives passed this stop gap funding bill and it will now move on to the Senate where it is expected to be passed. We temporarily hit a minor disagreement on Monday regarding the republicans wanting to see funding for farmers and the Democrats wanted funding for school lunches. Both were included, providing $8 billion in nutrition assistance for school children and families and an increased accountability for farm aid money to prevent it from going to large oil companies. These were added to the bill and agreement was made. Now this should be off table and more focus can be applied to stimulus related discussions.

Yesterday White House Treasury Secretary Steve Mnuchin and Federal Reserve Leader Jerome Powell appeared before congress and testified that our country needs more stimulus. Steve Mnuchin testified that the Trump administration supports another stimulus check and stimulus package. Jerome Powell said the last round of stimulus played a large roll in stabilizing the economy with stimulus checks and Federal unemployment benefits and without another round we will scar and damage the economy. Steve Mnuchin was asked directly “yes or no, do you believe another stimulus check could help our economy?” He responded, “I do and we need the support of both Republicans and Democrats” and the senate responded that he needed to make it clear to them that this is needed.

So we are seeing white house officials and the federal reserve testifying this is needed however we now need congress to come together and make this possible.

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