Stimulus Update in 3 Minutes - Tuesday October 20th

Your second stimulus check update, stimulus package update, and stimulus check 2 update for Tuesday October 20th. Everything you need to know in 3 minutes!

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Today is deadline day. Nancy’s 48 hours to come to an agreement ends this afternoon.

Yesterday the White House and The Speaker had quite a few issues on the relief package to iron out including unemployment insurance, testing, vaccine development, and state & local government funding.

The President has predicted that he and his fellow Republicans in the Senate would support a large stimulus package if Nancy and Mnuchin can reach an agreement. Trump feels this way despite the Senate Republicans stated opposition to the idea of anything larger than $500 billion dollars..

All the stimulus bills that we have so far that could be passed this week:

Mitch McConnell has two $500 billion bills to be voted on this week. Today is a $500 billion PPP bill, focusing on just the PPP program with no direct checks.

Tomorrow is Mitch’s $500 billion “Skinny bill number 2: Lost in New York”. This package includes a $300 weekly unemployment boost, school, and post office funding, as well as liability protections for employers and health care workers.

Neither of McConnell’s bills are not expected to pass.

From the White House we have the $1.8 trillion bill. Which includes another $1200 direct check, and $1000 for each dependent. Unemployment benefits at $400 a week. Funding for coronavirus testing and tracing and some state and local government funding.

Democrats are holding strong with their $2.2 trillion bill. This bill includes $1200 direct checks to individuals and $500 payments for their dependents. It includes payroll support for airline workers and small businesses, unemployment benefits of $600 per week, state and local government funding, and housing assistance.

These are the major bills up to bat this week, however even if one of these does not pass there is some hope still.

We have three smaller stand alone bills that have been discussed, they just need to be signed.

Let’s take a look at these stand alone bills:

First we have a stand alone $1200 direct checks. This is of course the number one priority for most Americans and one of the best ways to stimulate the economy.

Next is an airline assistance bill. Pelosi has stated that she has been “very open to having a stand-alone bill for the airlines." The airline industry is a major job market that is on the brink of thousands of lay-offs.

Finally we have a standalone bill for the US Postal Service. $25 billion in additional funding.

Although these bills would not have as much of an impact as a full Stimulus Package, they would provide some much needed assistance, especially the airline industry.
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Видео Stimulus Update in 3 Minutes - Tuesday October 20th канала Max Maher