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Second Stimulus Check Update | August 4th Update - Stimulus Package #2

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Stimulus Check update for Tuesday, August 4th discussing the eviction moratorium, federal unemployment boost, payroll tax cut, and second stimulus check timeline.

Video Outline:
“Four months ago, when we did the first stimulus, we thought the economy faced a pothole and the stimulus put a plate over it so we could navigate,”

“Now escalation of the virus may be making that pothole into a sinkhole and creating a need for a longer plate.”

According to an NYC Hospitality Alliance Survey NYC, commercial tenant eviction moratorium expires tomorrow, and support for this will be critical.

It won't just be people getting evicted out of residential homes but we may see thousands of brick and mortar businesses shutting down because of this as well.

Rent is often a business's largest expense and it makes sense to not be able to pay the full amount when you get 20% of what business should normally be.

Currently where the people stand is in the sea of 2 trillion dollars.

Why 2 trillion?

This is the middle ground of the democrats 3 trillion heroes act and the republicans 1 trillion proposals.

President Trump is currently floating the idea of taking unilateral action if a deal cannot be made with democrats and exercising his power through the President's executive order.

In yesterday's video, we talked about what executive order was and how we've seen trump use it in the past.

Go ahead and watch that video if you have any questions with executive decisions.

President Trump has really been flexing his cards at the table and even mentioned at the White House:

"A lot of people are going to be evicted but I'm going to stop it because ill do it myself if I have to,"

"I have a lot of powers with respect to executive orders and we’re looking at that very seriously right now."

Could Donald Trump really use executive order in order for additional relief to get passed?

Let me know if you think this is ACTUALLY possible by commenting down.

Late last night we also got word from President Trump of bringing back the payroll tax cut.

This was a big demand that our President had since the beginning of the Heroes act and it looks like talk of this is starting to come back.

Because both parties aren't acknowledging the Payroll Tax Cut President Trump is now bringing matters into his own hands and talking about initiating this through the executive powers that we've mentioned.

Big divisions still stand with the $600 unemployment boost and many people are so upset they are now protesting outside the homes of some of our government officials in order for them to take this matter more seriously.

Many Republicans disagree with the $600 unemployment boost because it creates a disincentive to go to work, however, new studies are showing how this may actually be a myth.

Do you believe UI creates a disincentive to go to work or do you believe this is necessary for the people?

In states like Oklahoma, there will be a 93% drop if the UI boost doesn't make a return.

This week is supposed to be filled with productive conversations on progressions with the next heroes and hills act but so far we have yet to see any tremendous progress in any areas.

With August 7th a few days away time is ticking for our officials to make a decision.

If the next stimulus check does get passed the date on when we should expect it would till be at the end of August but until the money is in the pockets of the people any estimate is still none.

Please let me know down below your thoughts on the situation.

Stay safe and thank you all for tuning by, until next time.

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Disclaimer: I am not a financial advisor. Brian Jung does not provide tax, legal or accounting advice. This material has been prepared for entertainment purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

#StimulusCheckUpdate #StimulusUpdate #Stimulus

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