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Finally! Bill Passed | New Stimulus Package Details | Schumer Promises To Lower YOUR TAXES - YouTube
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Hello hello hello.
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Hello and welcome to today s August 10th,
Daily News report as well as ongoing stimulus
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check package information video.
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If you re a subscribed member of my community,
then welcome back.
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And if you re not, consider subscribing right
now So I can keep you up to date on what s
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going on in Washington DC, The US Economy,
the Stimulus Package programs, money, investing
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and more.
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Don t forget to sign up for the august giveaway
where Kacey and I are giving away $10,000
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in cash
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to help those in the community that might
need a little extra spending cash right now
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and as a thank you for helping me get over
1 million subscribers.
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I ll make sure to leave a link below.
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Today the Senate held the final vote on the
$1.2 Trillion physical infrastructure bill
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or the American Jobs Plan.
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The final vote was 69 yes s to 30 no s.
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So 19 republicans in the end decided to vote
with democrats on this historic bill.
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Senator Sinema, Portman and 8 others involved
in the bill negotiation efforts released this
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joint statement.
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Congress has talked about truly modernizing
our nation s infrastructure for as long as
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we can remember.
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The United States Senate delivered so that
we can finally give the American people the
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safe, reliable, and modern infrastructure
they deserve,"
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The bill almost didn t happen because the
Congressional Budget Office released that
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the bill wasn t fully paid for and will add
$256 billion to the national debt but seeing
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as that is over a 10 year period and the infrastructure
is needed, the bill still went to the floor
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and passed.
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The impressive thing is this bill was almost
entirely paid for by saving money here and
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there and changing up how money went out to
certain groups so no taxes had to be raised
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on people or businesses to pass this bill
and the IRS didn t get a massive influx of
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money to audit the wealthy, but we all now
know most of that would likely have gone to
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audit the middle class and those that make
under $50,000 a year.
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Now the senate can begin to focus on the $3.5
trillion stimulus package.
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Until this is passed the $1.2 trillion spending
bill won t seem like a victory.
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Yesterday House Speaker Pelosi again refused
to take any action on the senates infrastructure
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bill.
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She said she applauds their efforts but moving
forward without the $3.5 trillion spending
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bill is moving forward without the people
that need it
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the most.
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However, its now starting to look more and
more like moderate democrats won t vote for
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the $3.5 trillion bill because of the cost,
raising taxes on people and businesses and
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the amount of national debt.
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So I can see now why Pelosi is tying the two
together.
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She is hoping moderates will vote for the
$3.5 trillion bill in order to get the $1.2
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trillion bill
they support.
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By the way, thank you so much for giving my
videos a like.
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I really appreciate you taking the time to
hit the like button.
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The framework for the $3.5 trillion spending
bill is beginning to be made public.
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Here is what we know so far.
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Democrats want to raise taxes on the wealthy
and give tax relief to middle class families.
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They have not said how much they will tax
the wealthy and so far there has been zero
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published about tax breaks but this is what
is written so far.
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Just the idea of more or less tax.
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Taxes would be raised from 21% to 28%.
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This will make the united states corporate
taxes some of the highest in the globe.
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Ok so
here s how we know this bill is far from complete.
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One it isn t in writing yet.
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Two democrats are just now starting to submit
their ideas, amendments, proposals and acts
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to be incorporated in.
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Third, democrat senator Ron Wyden who sits
on the finance committee and has called for
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a 4th stimulus check said we are working on
a menu of options for democrat colleagues
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to pick from for the final bill.
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So we know this isn t done and there is a
lot more detail that needs to be released
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this week and likely next week.
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Wyden said congress needs to make a change
to the tax code so companies have incentive
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not the send jobs overseas.
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Wyden said he also wants to see the child
tax credit become permanent.
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Senator Schumer said he plans to give American
families the biggest tax cut in history and
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make the wealthy pay their fair share.
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The trump tax cuts were some of the biggest
already so it will be interesting to see how
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Schumer gets the middle class even more tax
savings.
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Ok now this part was a little sneaky.
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In order to get republicans on board with
the $1.2 trillion spending bill democrats
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removed giving more money to the IRS.
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However, Schumer said this morning that in
the $3.5 trillion stimulus package they will
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be giving money to
the IRS to do more audits.
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Some democrat lawmakers are saying the only
way to pull off this massive spending bill
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is to raise taxes so it will be interesting
to see how they get enough tax revenue while
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not coming after the middle class which pays
the
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majority of taxes.
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Senator Sanders says he is going to try to
get medicare for all.
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And if he can t get that at least lower it
to age 60 and if he can t get that then leave
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the age alone and try to get more benefit
for those that qualify by going after the
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prescription drug costs.
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Larry Levitt of the Kaiser Family foundation
said if democrats can pass this bill it will
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be the single biggest change since the affordable
cares act or Obamacare as some like to call
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it.
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The bill also seeks to make community college
free and pre kindergarten free.
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The bill seeks to have $107 billion go towards
border security and a path way to citizenship
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for those that enter the country or are already
in the country.
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This one will receive republican push back
as many say this bill seeks to create more
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democrat voters and give more aid to people
who aren t citizens than it does to help our
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own citizens.
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Democrats also say they will make game changing
investments in infrastructure with this money.
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While some are saying didn t you just make
game changing investments in infrastructure
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with the $1.2 trillion infrastructure bill?
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Democrats say they want
to invest in getting millions of people their
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green card.
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As well as invest in infrastructure that helps
native americans.
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They say they also want to invest in veterans.
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Schumer said all this money will be spent
to create tens of thousands of jobs and restore
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the middle class in the 21st century.
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Democrats want to spend $67 billion on the
Environment and Public Works committee.
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And $198 billion on the clean energy initiatives.
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Democrats also want to create a massive civilian
climate corp of young people that can help
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make a difference in the clean energy of this
country.
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Some fear this will just be a massive paid
group of people that travel around shaming
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businesses.
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Democrats also say in addition to the $3.5
trillion they need republicans to help them
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raise the debt ceiling so they can access
more money for more government programs.
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Senate Minority Leader Mitch McConnell had
this to say, Here s the comedy: They won t
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let Republicans have any say in this monstrosity
but they want our help raising their credit
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card limit to make it happen,
So far there is no mention of a 4th stimulus
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check.
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However we are hearing from several democrats
about survival checks, universal basic income,
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cash payments, etc.
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I think what we know about the $3.5 trillion
spending bill so far is just the tip of the
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iceberg and much more will be released this
week and next.
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In other news, Governor Andrew Cuomo has decided
to resign after nearly every phone call and
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email to his office was calling for his resignation.
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Two more women came forward today bringing
allegations.
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The letuinet governor will likely take over
the Cuomo until things settle down.
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Once sworn in Kathy Hochul will become New
Yorks first female governor.
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The Washington Post is calling for CNN to
investigate Chris Cuomo, governor Cuomo s
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brother, for his involvement in the cover
up.
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It came out in the investigation that Chris
Cuomo had been coaching his brother on how
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to deal with the media and deal with sexual
misconduct allegation.
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Chris Cuomo is on a planned vacation as of
right now that he says has nothing to do with
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his brothers situation.
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Although I don t know that CNN is the best
to investigate one of their own that could
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bring addition shame and worsen CNN s reputation.
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Likely an unbiased investigation is needed.
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The Prime Minister of Australia is losing
big time in the polls for his aggressive draconian
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lock downs.
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People in Australia aren t allowed to leave
their homes.
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The military and police are patrolling for
anyone breaking the rules.
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One of the ministers said he was so worried
about covid that people could even infect
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each other through their farts.
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Now I don t know if that is true because I
m not a doctor but that seems like pretty
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extreme thinking.
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You guys I can t make this stuff up.
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People really say this stuff.
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Ok now on a serious note, a new study shows
that children and teens are dealing with the
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highest levels of depression and suicide ever.
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The pandemic, lockdown and isolation from
social life has been incredibly damaging.
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If you have teens or young kids please keep
an eye on them.
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Show them ever love.
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Put down the phones and hug and go for walks
and look for ways to build connection.
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Connection is what is missing in a world of
smart phones, social media and lock downs.
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This is my update for today.
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As I know more I will come on and share more.
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Now before you go, make sure to go sign up
to be one of the 25 winners of the $10,000
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Kacey and I are giving away.
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5 will win $1000 and 25 will win $250 in cash.
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I m excited to give away that money.
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The link to sign up will be in the first comment.
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Also, make sure to check out Mack Weldon and
use my code to get a discount.
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Before I go, I wish to remind you, that you
are amazing.
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I appreciate you being in my community
And I ll see you on the next video.
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