Trump SIGNS Stimulus Bill on $600 CHECKS, Vote on $2000 Checks Today – The Credit Shifu

Hey credit warriors, well President Trump has signed the $900 billion dollar stimulus bill that he fought hard against due to two things, the stimulus check amount being too low and what he saw as irresponsible spending in the foreign aid items in the omnibus spending bill that the COVID relief was attached to. Remember the gender programs in Pakistan etc…

Now this bill was sent back to congress and they did nothing, the Republicans wouldn’t raise the amount of stimulus to $2000 like Trump asked for and the Democrats didn’t want to get rid of their gender programs, so basically the bill is unchanged. Now Trump has signed it, I guess because he doesn’t want to be seen withholding much needed funds from Americans, in the form of stimulus checks, unemployment benefits and paycheck protection program loans. So it is signed amd you will be getting a second check, $600 for you and $600 each for your dependent children. So a family of four would receive $2400, its not ideal but it is better than nothing, and there is a chance the amount of your stimulus check will actually be increased, we will talk about that in a second.

But first let’s cover some bad news and that is because so much time elapsed in signing the bill, there may now be a gap in enhanced unemployment insurance, that is the extra money per week that people have been getting in addition to state unemployment benefits. It used to be $600, and now it is going down to $300. And those receiving or applying for those benefits, may now experience a gap of one or two weeks where they receive no money, while the logistics of the new bill are being worked out with the agencies involved. However you will still receive all the money in a lump sum once things are worked out, but it could take a couple of weeks.

Now for some more hopeful news the house has scheduled a vote today on increasing the amount of the stimulus checks to $2000, or $5200 for a family of four. In addition to the house voting, Trump said in his statement that:

“The Senate will start the process for a vote that increases checks to $2,000, repeals Section 230, and starts an investigation into voter fraud.”

So both chambers of congress are moving on the stimulus check amount, it will probably pass the house because the democrats are ok with bigger checks.

But if it passes the senate with those other strings attached, whether that can be reconciled between the house and senate, I don’t know, since there is a lot riding on this, like repealing section 230, which as a full time social media creator, I do support in order to fight censorship on social media. But I don’t know if they will be able to come to an agreement with all those strings attached.

With other spending as well like the gender programs in Pakistan and counting the number of Amberjack fish in the gulf, Trump has chosen to use the Impoundment Control Act of 1974 to rescind those funds and in his words:

“will send back to Congress a redlined version, item by item, accompanied by the formal rescission request to Congress insisting that those funds be removed from the bill.”

So he has chosen a different way to fight all those wasteful items, whilst letting stimulus checks and other stimulus money reach the people. We may never know how many amberjack fish there are! Oh well.

Alright guys, hope you enjoyed that, please subscribe if you are new and we will see you next time.

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