NEW $750 BILLION Stimulus Bill + $2,000 Check Update + EIDL (May 8, 2020)

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New $750 billion stimulus bill + $2,000 stimulus check update + EIDL update

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Today I want to make sense of the madness that is the CARES ACT, and PHASE 4 of the proposal because NOW the leaders of both parties are starting to chime on on these stimulus proposals that we’ve talked about in the past because there’s a new one on the horizon.

We’ve heard them all so far: Rent and Mortgage Forgiveness, $2,000 a month stimulus checks for up to 1 year, and tax breaks and payroll support for big corporations. But if you haven’t been keeping up, the government without publicly announcing, has just cut down the EIDL.

The emergency injury disaster loan program which was meant for small businesses, and separate from the PPP, down to a $150,000 from their original promise of $2,000,000. This means many small business owners will most likely have to declare bankruptcy.

The reason they did this: is because they want agriculture businesses to have the priority and because there is such a huge demand and funding is drying up. This will have bad consequences because I used to work for a startup and I think small businesses are the backbone of America and without them, you’re going to see a lot more unemployment which only make things worse.

Here all the stimulus package phases we've been through so far:

PHASE 1: was around $ billion dollars to support research in development for vaccines, which was passed on March 5.

Phase 2: was a little larger at $105 BILLION dollars, which passed on March 18 and gave people paid sick leave, insurance for unemployment, and free testing.

Phase 3: was $2 TRILLION dollars passed on March 25th, the LARGEST stimulus plan in history. This is the one that with direct payments to us, small businesses, and support for healthcare.

Phase Included $484 billion dollars to replenish some of what was offered in previous phases.

Now we’re entering the PHASE 4 of the stimulus plan between the democrats, and the republicans to provide some more relief.

The democrats are writing A bill that includes more than $750 BILLION in aid to state and local governments which would REALLY help people like teachers, police officers, and firefighters. So most likely, we will see some sort of a compromise or agreement here however;

The Democrats are also asking for extending unemployment benefits of $600 per week, PLUS potentially another round of aid to Americans most likely in the form of another stimulus check. In addition to that, the $2,000 a month stimulus check bill is back - this time proposed by senators Bernie Sanders, Ed Markey, And Kamala Harris. If passed, everyone who makes under $120,000 a year will get $2,000 a month. Married couples would receive $4,000. Families would receive $2,000 per child for up to three children, and payments would be paid retroactively to as far back as March.

URGENT NEWS: for all Robinhood investors and shareholders of Disney: they decided to cut their dividends which is unfortunate because as a dividend investor myself, I, along with many other people like retirees, rely on this dividend as a form of passive income to supplement my lifestyle and pay for my bills.

FINANCIALLY speaking this is a very smart move for them, saving them roughly $ BILLION dollars this summer alone, allowing them to survive.

For further research, please look at these articles:

DEMOCRATIC PROPOSALS: #13a948951de0

$2,000 A Month Stimulus proposed by 3 Democratic Senators:
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