Second Stimulus Check Update | $600/Week is COMING!!! (HEALS Act)

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Second Stimulus Check Update | $600/Week is COMING!!!

August 5th, 2020

0:00 Stimulus Check Update Intro
0:40 HEALS Act Projected Timeline
1:18 Unemployment Benefit News
2:27 Breaking News
2:38 Likely Category Update
2:45 Liability Protection Update
3:50 State Funding Pending
4:59 Eviction Moratorium
5:26 IRS Fixing Missed Stimulus Check Payments
6:50 President Trump Executive Power Update

Welcome to your second stimulus check update! There were a lot of changes and well (thankfully) some progress when it comes to the second stimulus, $600/week unemployment benefit, and all other items within this second stimulus package.

As a reminder, this Friday, August 7th, 2020 is the final day for the Senate's current session. Previously Senate majority leader Mitch McConnell, expressed that if the Senate has not reached an agreement for the HEALS Act bill, he would look to extend the session until the bill has been passed.

The big question is WHEN will the second stimulus check of $1200 be distributed? IF the HEALS Act bill passes and is approved by the Senate, let's say by August 10th, 2020, it reaches President Trump's desk and he signs it into law, you could probably expect the second stimulus check to hit your bank account the following week, approximately between August 17th-24th.

Now for the HUGE unemployment benefit news, when the HEALS Act introduced that version of the unemployment benefit, it reduced the weekly benefit amount to $200/weekly and in October it would change into a 70% payment of the individual's salary. BUT, as of yesterday, Senator Mitch McConnell folded his cards for the original HEALS Act proposal and agreed that the $600/weekly unemployment benefit should stay as it is currently. Moving forward, the $600/weekly unemployment benefit will eventually fizzle out based on the state's unemployment rate drops and we start seeing Americans get their jobs back and/or new jobs.

Also too, the liability protection for businesses, schools, establishments has been moved over to the pending category, the Republican lawmakers decided to dial back the push to pass the liability protection in the HEALS Act so they may have some leverage to get something else passed in the HEALS Act bill if need be.

President Trump has also stated that he will most likely, not use his executive powers to enact any legislation if Congress can actually come to an agreement on the HEALS Act and any bill moving forward. President Trump has been very open to the second stimulus package

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