On Tuesday night, the US Senate passed by unanimous consent a five-week extension of the Paycheck Protection Program (PPP). Yesterday, the House followed suit and the bill is expected to soon be signed into law.
Many leaders understand millions of people are experiencing financial difficulties, but they also believe a stimulus check is too expensive and doesn’t solve the problem. The next stimulus package will come from Congress. While the White House may have input and help draft the legislation, only Congress can authorize legislation for the next stimulus package.
The Republicans originally wanted to spend no more than one trillion dollars on the next stimulus, now they moved that line up to 2 trillion dollars. Confidential sources from inside of the White House reported what Donald Trumps wants to spend the additional trillion dollars on.
The Second Stimulus Check’s fate is in the hands of the U.S. Senate, and based on the latest update it seems the government is torn on whether a second round of the stimulus check is needed as the country moves to reopen.
At a press conference in the Rose Garden on Friday, President Donald Trump said he would like to see a payroll tax cut to help the American economy to continue to recover from the shutdown caused by the pandemic. What is a payroll tax cut and how much money would it mean to you?
With nearly 40 million people that applied for unemployment insurance in the last 10 weeks, that’s telling that many people are out there hurting financially. here are many employment and financial resources for individuals who have lost their jobs.
Senate Majority Leader Mitch McConnell is predicting if there is another stimulus package, it won’t be as big as the last one, and if there is another one it will be the last. McConnell said that we could anticipate the decision being made on whether to go forward with a stimulus in about a month.
Republicans are aiming to offer an alternative to Democrats’ push to continue the $600 weekly federal unemployment payments, which are in addition to state unemployment benefits. Some conservatives fear the amount is so high that it might be keeping people from returning to work.
Despite calls all week from Democrats demanding a vote on the bill in the senate or at least to even discuss the bill, Senate Majority Leader Mitch McConnell refused to take it up. In this article from CNN, McConnell said that the Senate will wait a couple weeks to decide on a phase four stimulus bill.
If you are a citizen of the United States the government wants to give you free money to help assist in this economic slowdown.