Stimulus Package Expected To Pass THIS Friday?! – Brian Jung

Stimulus package update for Wednesday, August 5th, 2020.

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Outline:
So could we expect to see the stimulus package getting official approval by this Friday?

The start of this week has been disappointing and sad for most of the country.

After seven meetings totaling only a dozen hours the top democratic officials and white house negotiators are finally putting some offers on the table with trading proposals.

The Politicians are treating the lives and welfare of the American people just like a game.

Except in this game, there are no rules, they make the rules and we suffer the consequences of whatever they want to pass.

We’re going to make this video very easy to understand:

The Good & the Bad.

Good News:

1. The deadline they have set is officially the end of this week.

There is still a long way to go to reach an agreement but things are actually looking like they are starting to kick into gear.

1. The pressure is building and the voice of the people are getting heard.

Senator John Cornyn a Republican from Texas stated

“How do you think it looks for us to be back home when this is unresolved?”

“This is the most important thing we need to be doing.”

Senator Lisa Murkowski a Republican from Alaska stated
“As I look to where we are, I feel the same discouragement, despair — despair that we’re here on the fourth of August,” she said. “We don’t have answers for people right now. So, we’re going to keep working.”

Marko Rubio also noted
“We’re going to have to move toward each other to get something done,” Mr. Rubio said.

SO WHAT HAPPENED THIS PAST WEEK?

The Tuesday meeting between Nancy Pelosi, Chuck Schumer, Mnuchin, and Meadows was by far the most PRODUCTIVE meeting according to both sides.

Chuck Schumer stated both sides made talks beyond areas of disagreement and that they have even started to trade paper proposals on both sides.

Now the exchange of papers doesn’t seem like but this is actually VERY good. This is where we want to be.

This is where we should have been a week ago when the HEALS act was first announced BUT whatever.

SO IN THESE EXCHANGE OF PAPERS WHAT DID WE SEE?

The White House made offers:

1. $400 per week unemployment boost
2. Eviction moratorium until mid- December
3. $200 billion for state and local funds. More than the ZERO we saw from the GOP proposal.

Now here’s the not so good news:

• Arrogance and being stubborn is still flooding the brains of our politicians.

Pelosi mentioned in a PBS after hour News interview that there is no in-between and that they are firmly sticking to $600.

We need to have some type of middle ground. ON BOTH SIDES.

Pelosi also mentioned in a CNN interview with Manu Raju that the Topline final agreement would be $3.4 trillion and Mnuchin responded to that just being “RIDICULOUS”.

If no one can come to an agreement President Trump has said he is considering his executive action privileges if no progress is being made.

Democrats don’t believe he has the authority to do what he is claiming while republicans believe this will the leverage at play.

McConnell has made clear that he very much wants an agreement and believes it is absolutely necessary.

Senator Susan Collins told reporters yesterday

“If we can’t get this done in the midst of a persistent pandemic then we have failed the American people,” Maine Sen. Susan Collins told reporters Tuesday. “And I’m optimistic that we will be able to get it done.”

That is your news for today.

As we approach the End game let me know how you feel about all of this. Are you pissed off?

Are you excited?

Or at this point are you just numb?

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Disclaimer: I am not a financial advisor. Brian Jung does not provide tax, legal or accounting advice. This material has been prepared for entertainment purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

#StimulusCheckUpdate #StimulusUpdate #Stimulus

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