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.
The CARES Act added $600 a week to the unemployment benefits. That extra money is set to expire at the end of next month if lawmakers fail to act. In this video, we are going to talk about what that would do to the economy and your wallet.
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.
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.
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.
The Senate has to decide whether it agrees to do what the House has already done and approve the following provisions, present a modified version on stimulus checks, or refuse additional stimulus checks altogether. They can even start with a blank slate to write their own bill.