Stimulus Check 4th Update November 2021 - Stimulus Package Finally Passing This Week | fourth stimulus check update

 Stimulus Check 4th Update November 2021 - Stimulus Package Finally Passing This Week


This is the week we've been waiting for for so incredibly long on the stimulus package. Why this week is so incredibly important and pivotal when it comes to the stimulus package edge, otherwise known as the reconciliation bill. Yet again, we have another very, very busy week ahead of us. Let's get into it and discuss what is going down this week and why it is so very important when it comes to this reconciliation bill, otherwise known as the nearly $2 trillion stimulus package that we've been talking about for literally four or five months, maybe even longer than that.

So here's why there's a few things going down this week.

Number one, tomorrow, the President will be signing the first of the two stimulus packages. This is the one that is strictly focused on infrastructure. This was the one that's focused on roads, bridges, airports, waterways, broadband, things like that. However, they also did mention as well that there is money in this infrastructure package to help alleviate some of the supply chain issues and some of the issues of them unloading all of these massive container ships at these ports over in California. However, one of the deals is a lot of the money that is in this infrastructure bill that is going to those projects actually won't be distributed for about 90 days.

So about three months from now, however, that should help alleviate some of these supply chain issues. So the President will be signing that into law tomorrow. There will be a signing ceremony. A bunch of different people from Congress will be there joining him. And that'll be going down tomorrow.

However, that is not even the most important part of this week. This week actually represents the week that they have promised. They being lawmakers people in Congress, they have promised, and they have pledged that sometime this week before the end of this week, they will have fully passed the reconciliation bill. This is the one point, $85 trillion stimulus package as of right now, however, as we know, because we've discussed over the last few days here mid-last week. In fact, on Wednesday of last week, the CPI number, that is the number that represents inflation, was actually released for the month of October.

And it came in incredibly hot 6.2% year over year. And what was it? 0.9% month-over-month increases. So inflation is running so incredibly hot right now. So as a result, over the last few days here, we've seen a number of people coming out from Congress showing their concerns about an additional stimulus package and nearly $2 trillion of additional spending.

And we've also had many people in Congress coming out showing their concerns about this reconciliation bill and wondering if they'll actually get anything done with it because they're worried that they lost all of their negotiating and leverage when it comes to the infrastructure bill already being passed. So we have once again, this great divide between Congress, right now and what's actually going to shake out. So this week is going to be unbelievably busy because they have promised not only themselves and each other, but they've also promised and pledged to the American people that they're going to have it done completely done this week alone.

So we'll be reading this one very, very closely. But Congress will be in session.

They will be going through this bill, and it is probably going to get a little bit dramatic as it always does, right down to the final days on this. But there are many people in Congress right now who are saying that they are very confident that this bill will get completely passed through Congress this week. However, on the other hand, we do have some people in Congress who are saying, okay, fine, pass it through the House this week, no problem at all. And then when it goes over to the Senate, we may be talking a totally different story where it may have a little bit of a snag, a little bit of a hang-up trying to get its way through the Senate.

So again, we won't know any of the details and how this whole thing goes down until we actually seeing this whole thing play out literally in real-time.

So I'll continue to be here for you every single day with all the latest updates. But as of right now, we do know that this package has kind of been going through some a few negotiations and some different just changes to the packages, real estate that's all can really say about it. They've made some changes to the packages simply because back when it was that $3.5 trillion in order to bring it down to actually get everybody on board with this thing, they had to shave it down by about 50%.

Well, as a result of that, they've also made some massive changes at the same time, we've also seen many people coming out in these little groups, just a handful of people throughout Congress saying, if we don't get this, we're not voting for it. For example, there's a couple of representatives in the House who are saying there must be immigration in the bill.

Otherwise, we're not supporting it. There's also another group in the House of Representatives who are saying, no salt, no deal. So they're basically saying we're going to hold our votes unless we get the salt deductions in the bill as well. By the way, salt is the state and local tax deduction. As of right now.

According to what I'm seeing, it looks like they're going to raise the cap on the salt deductions from $10,000, which was actually implemented back in 2017 as a result of the Tax Cuts and Jobs Act. The cap was $10,000 that you could write off against your federal taxes from your state taxes, like property taxes, things like this against your federal return. However, it looks like they want to raise that cap up to $80,000. So that'd be a huge raise to the cap on that to the sole tax.

By the way, this is something that would mostly impact higher-income people.

In fact, the vast majority of people who are going to actually benefit from this are those people who are part of the 1% or even.01% so, yeah, those are the people who are actually going to benefit from this salt cap deduction the most by raising it from $10,000 up to $80,000. However, we can talk about that in a separate video. I don't want to get into too many details here simply because I know that the fast majority of us in this community, it doesn't really pertain to us.

So it doesn't really matter, right. You know what I mean?

We want to focus on the programs that actually pertain to our low income and middle-income individuals, fixed income, beneficiaries, Social Security, SSDI, VA, RRB, SSI, survivors, everybody in this community. So we want to focus on the programs that are actually focused around everybody in this community or at least the vast majority of people in this community. So they've been making a lot of revisions to this package, the reconciliation bill. So we're trying to make this thing into more of an anti-poverty plan. However, some lawmakers out there have actually suggested scrapping the entire bill, starting completely over.

Stop, throw the whole thing away and start over with a whole new bill and regain our focus on an anti-poverty package, because that is what it was supposed to be way back in the day, months and months ago when they originally introduced this package to us. But unfortunately, it's actually turned into more of, well, climate. There's a lot of money in there for climate, and there's a lot of money in there for all these other projects. So it kind of steered away from this whole anti-poverty initiative, as it was supposed to be way back when they originally started out making this project or this stimulus program.

So that's kind of interesting.

Also, remember, back when this thing was originally introduced, there were 80 members of Congress who were actually in support of a $2,000 stimulus check and even monthly recurring payments. Well, what happened to those provisions? Yeah, exactly. You know what I mean. So that's why we certainly need to go back to the drawing board on this package, regain our focus, and figure out what is the actual initiative behind this stimulus package, and why are they actually passing it?

What is the whole purpose behind this? Nearly $2 trillion of spending. Right. So we've got a lot going on this week. There are going to be a lot of unanswered questions or what I should say is a lot of answers to our unanswered questions that will be coming out this week as well, including even that $800 voucher card that we've been talking about for a while now.

Well, yes, as we get more information this week on that card because we should be getting the final details on it. We should be able to figure out who's going to get it. How much is it actually going to be? As of right now, they've been floating that dollar amount of $800. Well, again, we could see that change originally.

it started out anywhere between 600 and 1000 dollars and then it turned into one thousand dollars and then it got shaved down to eight hundred dollars so we should be getting more information on that card as well this week who gets it how much is it actually going to be and how quickly can we get it and what can we use that card on is it strictly for dental like they originally said or can it actually be used for other purchases as well right so that'd be a really nice thing it's just a 800 prepaid card that we can use on anything it wouldn't be like cash like a stimulus check but you know what it could be used same as cash right we could still go to the stores and buy the things that we need groceries gas for the car whatever else it is that we need and we could use that voucher card but we still need to get more details on that as we still have a lot of unanswered questions at this time.

so as you can see there's a lot cooking this week there's going to be a lot going on as congress has vowed they have pledged and they have promised that they will get that package fully passed through congress this week by the end of this week sometime we don't know maybe it comes on Tuesday maybe it comes on Thursday maybe comes on Friday maybe comes on Saturday honestly we don't know that yet because they did not give us a specific day it was supposed to be coming last week but it never came last week and they said sometime on or before the week of the 15th.

which is now right here right now the week of the 15th um that's when we're going to be getting the final pass on this package so again as I've said so many times in previous videos when it comes down to the final days on these packages literally when it comes down to the last few hours the last couple days right before they hold the final votes on these things.


Post a Comment

0 Comments