New $1.6 Trillion Stimulus Package + Second Stimulus Check Update News

In this video we discuss the new plan released by the new $1.6 trillion stimulus package proposal released by Steven Mnuchin and the White House. During a closed-door meeting on Wednesday, Treasury Secretary Steven Mnuchin offered House Speaker Nancy Pelosi the White House’s biggest stimulus offer yet. The White House upped its stimulus offer from $1.3 trillion to $1.6 trillion. That’s still below the $2.2 trillion that Democratic leaders are requesting,

Republican offer would provide $400 weekly enhanced unemployment benefits, paid on top of state benefits and retroactively from the week ended Sept. 12 and continuing until the week ending Jan. 1, 2021. That would replace the $300 weekly benefits that President Donald Trump issued through a memorandum in August, which were exhausted in September. It’s also less than the $600 weekly unemployment benefit included in the Democrats’ proposed $2.2 trillion Heroes Act.

Key elements of the White House’s plan include:
$300 billion for another round of direct payments to taxpayers.
$300 billion for $400 weekly federal unemployment benefits through January 1.
$250 billion for aid to state and local governments.
$175 billion in health spending, coronavirus testing, and contact tracing.
$160 billion for small-business aid through the Paycheck Protection Program.
$150 billion for education and aiding school reopenings.
$100 billion for restaurants in dire financial straits.

Democrats and the Trump administration agree on including stimulus checks in another relief package, as well as providing money to help small businesses and schools.

DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given and anything stated in the videos is strictly my opinion. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.

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