FINALLY! EXCITING NEWS! Second Stimulus Check Update: Senate CONFIRMS $1200 Stimulus Check If...

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This is your Second Stimulus Check update, stimulus package update, and stimulus check 2 update as of Tuesday, August 18th. This video covers the second stimulus package, the stimulus update, and the new stimulus package. ✅Join The Power Of Finance Investor Group:

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Senator Mitch McConnell visited south central Kentucky on Monday and spoke at the first stopped at the Medical Center at Caverna about the second stimulus, mail-in voting, school re-openings, and more. He was asked specifically about another $1200 stimulus check and he thinks we need one and if we will receive one. Mcconnell said, “Let me tell you, I put together a bill of about a trillion dollars which as you can see has so far not gotten much traction on the other side, but it included another $1,200 payment.” He goes on to say that “people in the hospitality field that work in hotels or restaurants have really been hammered and I think they need another direct stimulus check.” He said that “he assume if we will have another $1200 check as long as congress can reach an agreement on other issues and pass a bil.” Mcconnell said that “We do need another bill and he’s hoping that this impasse will end soon.” But he also said that, “as of the moment, today, I can't tell you with 100% certainty we're going to reach an agreement,”

Economists warned congress on Monday of the lack of fiscal support. Ernie Tedeschi, an economist that was part oof the Obama administration said Monday that “by his calculations, total unemployment payments have dropped by about $15 billion per week since the enhanced benefits expired and that's the equivalent of almost 4% of GDP.” In addition, analysts at the Peterson Institute for International Economics warned that the failure of lawmakers to agree on a new relief package that renews expiring programs “threatens to undo the stimulus effect of the programs and exacerbate the economic damage from the lockdown.” They go on to say that “assuming no further federal assistance is provided, the recession would be deeper than otherwise, with a loss of GDP of 4 to 5 percent, and an associated 4 to 5 percent increase in the unemployment rate, which is in line with what Ernie Tedeschi said as well. They explain that “US policymakers should at least maintain the earlier levels of income support to prevent further induced economic damage because in the current depressed state of the economy, destimulation is a very poor policy choice.”

President Donald Trump on Monday reaffirmed his commitment to sending more money directly to Americans while defending changes to the Postal Service. “We want money to go to the people that need it,” Trump said. There has been a lot of controversy over the cost cutting changes to the postal service because slower mail times affects not only vote by mail programs but also stimulus checks. Tens of millions of people received their first stimulus Check in the mail and millions expected receive the second stimulus check when it passes I the mail as well. According to Mark Mazur, director at the Urban-Brookings Tax Policy Center, approximately 80% of the second stimulus checks would be made through direct deposit, however, the remaining checks may be subject to delays caused by postal service changes. Therefore Trump goes on to explain that “I have encouraged everybody to speed up the mail, not slow the mail,”However, he said that “he also wants to have a Post Office that runs without losing billions and billions of dollars a year, as it has been doing for 50 years” which is why some of these changes were made

#StimulusUpdate #StimulusCheck #StimulusPackage
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