WHAT is WRONG with Congress? | Second Stimulus Check and Unemployment Extension Update

https://youtu.be/CSb59NdiL3s

The additional $600 federal unemployment benefit for most of us on regular UI and PUA expired last week. So you would have received a payment for the $600 sometime this week, but when you certify this weekend next week there will not be the $600. People are asking on this Sunday do we just file the same way and unless your state advises otherwise I would say yes. My dad who’s currently receiving PUA we’re just going to go into his unemployment portal and certify as we have been doing.

When it comes to the next stimulus package, there is too much conflict with the republicans and democrats to trust any real progress would be made by this Friday, which is when Treasury Secretary Steven Mnuchin hoped to have the next stimulus package approved and signed.

Second stimulus checks $1200 are pretty much agreed by both democrats and republicans. On Fox News on Wednesday Senate Majority Leader Mitch McConnell said “I think whatever we finally agree on, all of these items — whether it’s the FBI building, whether its a tax cut for high-income people in blue states — ought to come out,” McConnell said “the bill ought to be narrowly crafted to deal only with the coronavirus.”

Unemployment extension is pretty much agreed by everyone, however they differ on the amount to continue. The HEROES Act which passed in the House of Representatives proposed to continue the $600 and the HEALS Act proposed to continue at $200 and then after October 5, states would be able to adjust it up to $500 so that your total unemployment (including regular or PUA and the additional boost) is no more than 70% of lost wages.

Matt

Hi! I'm Matt, an engineer on the path to financial independence and early retirement. One of my greatest passions is to teach and give people the tools and knowledge to reach their full potential in life. Subscribe to the Habesha Finance newsletter and get your FREE financial checklist today!