DETAILS CONFIRMED! $1200/mo + $1600/mo Second Stimulus Check | Who Is Eligible & When It Will Arrive
Second stimulus check update, Trump's executive actions, $1200 stimulus check, and stimulus check 2 update as of Friday, August 14th. 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.nytimes.com/2020/08/13/bu... When Mr. Trump announced the program, known as Lost Wages Assistance, he said it would add $400 to workers’ weekly unemployment check however most people will receive $300. States still willl the option of providing an extra $100, but few if any are expected to do so. Andrew Stettner, a senior fellow at the Century Foundation who has been studying the unemployment system said “states are stretched and they don’t even have money for masks for the teachers in their schools. He explained how “They’re probably not going to come up with an extra $100 for everyone on unemployment insurance.” Under guidance released by the Labor Department on Wednesday evening, the new program will be available to people who certify that they are “unemployed or partially unemployed due to disruptions caused by Covid-19” — but only if they already qualify for at least $100 a week in unemployment benefits. That provision would exclude roughly one million people, nearly three-quarters of them women, according to Eliza Forsythe, an economist at the University of Illinois. Ms. Forsythe said, “They’re the people who need it the most. She explained how they are low paid to begin with, and then being singled out for not getting this benefit I think is really cruel.” It isn’t clear why the $100 minimum was established. The program is retroactive to Aug. 1, meaning that workers should eventually receive payments for all of August. However Mr. Trump’s executive action caps spending on the program at $44 billion, enough to cover five or six weeks of benefits, assuming all states sign up. According to Senator Ron Wyden , the top democrat of the senate finance committee, “The Labor Department’s new guidance leaves many unanswered questions.” And ultimately he says that “workers struggling to pay rent and buy groceries are not going to see benefits they were promised any time soon.” Even for those who qualify, it could be weeks or even months before they begin receiving any extra money. States will need to adjust to the new provisions when they are already overwhelmed by unemployment filings. Trump administration officials contend that the new program will be faster to put in place because states have gained experience during the pandemic, but even these officials say it will probably be weeks before workers start receiving the money. Bill McCamley, secretary of the New Mexico Department of Workforce Solutions, said that his state was among the first to get the pandemic assistance program up and running, but that it still took nearly a month. He explained that “even in our system, which is very modern in the unemployment world, it’s still going to take us time to do it right,” he said. In states wehre the systems aren’t as updated like Hawaii, William G. Kunstman, a spokesman for the Hawaii Department of Labor and Industrial Relations, said in an email that “We think it would take months.” He blamed this on the difficulty of reprogramming the state’s computer system to comply with federal requirements. #StimulusCheck #StimulusPackage #StimulusUpdate ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ ⚠️⚠️⚠️⚠️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.
