NEW $1,200 Stimulus Check Coming Soon? | Second Stimulus Update

$1,200 Second Stimulus Update: Click “Show More” to see my Favorite Financial Tools ▽MY FINANCIAL TOOLS▽ 🏦 SoFi Complete Money Management ➤ Checking & Savings - https://magnified.reviews/SoFi ➤ Credit Card - https://magnified.reviews/SoFiCreditCard ➤ Invest - https://magnified.reviews/SoFiInvest ➤ Budgeting - https://magnified.reviews/SoFiRelay ---------- 💰 Chime Fully Online Banking ➤ Sign-Up for Chime HERE: https://magnified.reviews/Chime ➤ Chime Credit Builder HERE: https://magnified.reviews/Credit-Builder ---------- 💳 Favorite Credit Cards ➤ Chase Sapphire - https://magnified.reviews/Sapphire-Pr... ➤ Capital One Venture X - https://magnified.reviews/VentureX ➤ Chase Ink Business - https://magnified.reviews/Ink-Business ➤ Amex Green - https://magnified.reviews/Amex-Green ➤ Amex Platinum - https://magnified.reviews/Platinum ➤ Amex Business Gold - https://magnified.reviews/BusinessGold ---------- 📊 Wealthfront Automated Investing ➤ First $5,000 Managed for FREE - https://magnified.reviews/Wealthfront ---------- 💵 Current Card ➤ Current | Modern Banking App - https://magnified.reviews/CurrentCard ---------- 📸 MY CAMERA GEAR ➤ My Camera: https://magnified.reviews/Camera ➤ My Microphone: https://magnified.reviews/Microphone ➤ My Lights: https://magnified.reviews/Lights Today I want to talk about where we're at with the heroes act which remembers was passed by the house a little over a week ago and see when we can expect that $1200 check or what to expect if the HEROS act does not get past the Senate. So we know that the HEROS act which was the most recent proposal that would give you another one time $1200 check did pass the house on May 15th but we have yet to hear any response from the Senate which would need to pass this bill in order for the president to sign off on it. So why is Washington dragging their feet so much with this second stimulus check? I mean hypothetically the Senate could have one great day of debates pass this on to the president desk and he could sign it this week but it just seems like there is no sense of urgency from anyone in Washington. Well there's a number of reasons for this but the most likely is that Senate Republicans want to see the effects of the first round of stimulus before issuing more payments. I think many of our leaders and policymakers, in general, are being blinded by one very misleading economic factor and that is the stock market. We have all seen those unemployment numbers continue to climb now surpassing 30,000,000 in the past two months alone not to mention the horrible continued increases in cases and deaths from the health crisis itself. Yet despite all this, the stock market has largely recovered From its bottom towards the end of March. After losing over 30% of its value at the beginning of March, The S&P 500 index Is down less than 10% year to date and the NASDAQ is actually up almost 3% year to date at the time of making this video and that is absolute insanity. If you had fallen asleep in December and you woke up today and I told you that there was a horrible pandemic and the unemployment percentage was well on its way to passing the Great Depression you would probably assume that the stock market was down 40 to 50% if not more. But for one reason or another, that is just not the case and our policymakers who are largely invested in these markets likely look at their profits and think oh everything's going back to normal places are opening everything's fine. And whether you think everything is fine or not the point is that millions of Americans need more stimulus and assuming that this isn't the case just because the stock market is up is short-sighted and a misinformed outlook on the overall economy. So looking at the HEROS Act, I don't think it's going to pass especially in its current form and I think the 1800 pages of fluff will simply take far too long to sift through and it might be a faster course of action to go back to square one and get a short realistic bill through the House and Senate and have it signed off by the end of the month or early June at the absolute latest. Music From YouTube Audio Library "Hi Q" by Diamond Ortiz Magnified Money may receive compensation for sending traffic to partnered sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.