Second Stimulus JUST PASSED By Trump! [Full Breakdown] Includes $1600/mo Recurring Stimulus!!

Second stimulus check update, Trump's executive actions, $1200 stimulus check, and stimulus check 2 update as of Sunday, August 9th. This video covers the second stimulus package, the stimulus update, and the new stimulus package. ✅Join The Power Of Finance Investor Group: https://bit.ly/3aNRzAn 📈 Get Two Free Stocks on WeBull(Valued up to $1400): https://bit.ly/2zFA4oY 💰 Get $5 on Acorns Investing App: https://bit.ly/2SfogQw 💎 Get a Free Stock on Robinhood: https://bit.ly/2MsV2uo 🏦 Get $10 on M1 Finance: https://bit.ly/2xiaSUB 🗞Article: https://www.wsj.com/articles/what-we-... President Trump took executive action on Saturday and signed four actions on coronavirus relief Saturday including extending the boosted unemployment benefits, a memorandum on a payroll tax holiday for Americans earning less than $100,000 a year, an executive order on "assistance to renters and homeowners" and a memorandum on deferring student loan payments. At his meeting on Saturday Trump said, “I’m taking action to provide an additional or extra $400 a week and expanded benefits, $400.“ and how these extra benefits would be available until December 6th or until  the disaster fund’s balance drops to $25B. But it's more complicated than that and there is a catch. A state must agree to cover the costs for 25% (or $100) of the $400 additional benefit each person may able to receive weekly in additional aid. The problem here is that many states say they don’t have the money to do this. According to the memorandum issued by the White House shortly after Trump's news conference, up to $44 billion from the Disaster Relief Fund would be made available for "lost wage assistance" to supplement state payments. If a state says that it does not have the funds or does not want to enter into the agreement with the federal government, the unemployed people in that state would receive zero dollars in the extra benefits (they would still receive the normal state unemployment insurance). Also since Congress has not authorized an extension of extra federal unemployment assistance, the state will have to set up an entirely new system to deliver the additional aid, which could take months. The memorandum signed by Trump was not an unemployment insurance benefit and would not come through the unemployment insurance program already instituted in states Next up is Trump's executive action for housing and evictions. Trump's housing order outlines how important it is to keep Americans in their homes during the pandemic, particularly so they can successfully socially distance themselves from others and prevent the spread of the novel coronavirus. It says "It is the policy of the United States to minimize, to the greatest extent possible, residential evictions and foreclosures during the ongoing COVID-19 national emergency." But the text is light on details of how the Trump administration will keep Americans from getting foreclosed upon or evicted. In the executive actions, Trump directed the Treasury Department to defer the 6.2% Social Security tax on wages for employees making less than about $100,000 a year. That suspension would last from Sept. 1 through Dec. 31. However, even though Trump's memo directs the treasury secretary to defer payroll taxes through the end of the year, experts say that companies will likely hold on to the money in case they end up on the hook for it, so workers probably won't see it in their paychecks. The CARES Act help for student loan borrowers was set to expire at the end of September, so Trump's memo extends his administration's policy to set Department of Education loan interest rates to 0% and let borrowers defer payments through the end of 2020. The law applies to roughly 35 million borrowers whose loans are held by the federal government. It excludes about eight million borrowers whose loans are held by private lenders with a government guarantee, under a federal program that ended in 2010.  #StimulusCheck #StimulusUpdate #Trump ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ ⚠️⚠️⚠️⚠️DISCLAIMER⚠️⚠️⚠️⚠️ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Michael Wrubel MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Michael Wrubel's videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Michael Wrubel. Any use of other media is by fair-use or license only.