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Second $1,200 Stimulus Check Passes House - What' Next? - YouTube
Channel: Wealth Hacker - Jeff Rose
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what's going on y'all walked by the
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channel wealth hacker labs
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I'm your gracious host Jeff rose and
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we've got another fun-filled economic
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stimulus check update so for those that
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maybe were out enjoying some quality
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family time over the weekend maybe you
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just didn't want to stay up-to-date on
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what's going on in the news because
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you're just tired of hearing all about
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it so late Friday night the House passed
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the heroes Act that is correct the House
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passed the heroes Act and basically all
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that really means is that the House
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passed it and does that mean that you're
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getting a second $1,200 in this stimulus
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check
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hold your horses not quite so fast not
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yet at least
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there still is sometimes there's still
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some things to have to evolve and the
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big thing is that it still has to go
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through the Senate it still has to be
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signed by the president and as it's
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reported right now like there's a less
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likely chance of that occurring so what
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does that really mean that the House
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passed this twelve hundred dollar check
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well all that really means is that okay
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so we've got the Democrats that say yes
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here is what is in the bill there were a
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few adjustments a few amendments on what
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actually went I guess went to a vote
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Friday evening but nothing as far as
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like your second check like nothing of
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that it was more based off of student
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loan repayment student loan forgiveness
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but as it stands right now so the $1200
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was still included there is nothing in
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this bill inside the heroes Act that's
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going to give you a $2,000 check there
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is no recurring payment so that's going
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to happen you know this basically is
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just getting a secondary $1,200 check
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like that's I'll say that's it but
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that's it I know many people were hoping
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crossing your fingers praying that there
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would be a larger check you know whether
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it be $2,000 or some sort of recurring
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payment
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unfortunately no like that is that's not
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the case at all so sorry to burst your
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bubble sorry to let you down but that's
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that it ain't gonna happen I mean as it
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stands right now what the heroes act in
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its current form like it's not gonna go
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any further and even though it's a three
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trillion that's correct a three trillion
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dollar proposal which is actually more
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than the original cares Act but all it
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included was basically a 12-car dollar
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check yes for you and your spouse also
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included $1,200 for up to three
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dependents so that is some of the good
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stuff that's going on there but as far
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as like anything else included in that
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that's that's really it so what what do
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we know right now like what do we know
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like what's included well here let me
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just go ahead and go to my screen real
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quick so you can see what I see and
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right now so here is as you can read by
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the headline you know heroes Act passes
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house but omits the two thousand dollar
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reoccurring payment I don't know if
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anyone truly even thought that there
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would be a two thousand dollar
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reoccurring payment included in there if
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you did maybe you I don't know not
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really sure maybe you're just an
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optimist maybe you just think that you
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know things are always gonna work out
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what you I am the optimist like I'm I
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tend up want to believe that things are
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going to be good but as much debt as
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we're in right now like that that just
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that is not gonna happen it just is not
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going to happen alright so basically
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what we have how it stands right now
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like so there is no paycheck guaranteed
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act so that was one of the things that
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was discussed as a potential there's no
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reoccurring $2,000 monthly payment we do
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know net do know that no automatic
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stabilizers no improvements to get funds
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individuals more quickly and accurately
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for those of you that are still waiting
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on your first 12-hour dollar check
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nothing has changed
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really other than making sure that you
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get your direct deposit information in
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place prior to if this thing finally
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gets
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here's another one though like so
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basically what what happens now you know
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now that is past like what's kind of
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like the next steps well as I mentioned
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I think I've rented the previous video
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you've probably already heard this as
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this article points out you know the
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bill has already been declared dead on
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arrival and what are they mean by that
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so this is coming from Senate Majority
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Leader Mitch McConnell basically just
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saying that the way that it stands right
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now the way that everything that's
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included in this bill it is it is dead
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on arrival there's nothing about this
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bill that's going to pass there's
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nothing in here
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there just has to be a lot of updates
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for this thing to actually come into
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fruition so once again that dead on
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arrival do a because you know what that
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stood for dead on arrival ain't gonna
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happen
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ain't going to happen that should be a
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better better acronym all right so
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that's what we have going on right here
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debt on arrival and then in addition to
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that here is actually is statement of
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administration policy HR sixty hundred
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base Lee just talking about this is just
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basically summarizes from the president
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saying that we're not going to support
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this thing you know it's going to be
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veto is going to be blocked there has to
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be some huge changes if this thing is
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actually going to happen
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how are those changes going to happen
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gosh like I mean that's where everybody
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wants to know right so they're yeah
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they're they're definitely up dates here
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there needs to be some changes made to
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this and I am really not happy with my
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camera right now it just does not want
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to find me let's go to camera one all
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right camera one so things need to be
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updated things need to be changes in its
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current form yes it passed the House
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this is a democratic bill so house is
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owned majority by Democrats so yes it
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got voted now it's surprisingly there
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actually were some Democrats that did
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not support this and so that just kind
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of shows like there's just being pulled
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two different ways hey the Senate being
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primarily held by Republicans I mean
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this thing is going to be it's going to
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be denied
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does that mean that it's over does that
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mean that you're not going to get a
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second stimulus check absolutely not
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there still is a chance that this could
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pass and I'm sure this in other videos
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just talking about how we're still kind
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of just wait and see we've spent a lot
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of money and I say we just because yes
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or we enjoyed spend this money no but we
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reside in the country that has spent all
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this money with the second check now as
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far as like how did the second check
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work out how much did that help out the
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economy where are people spending their
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money I'm actually stay tunes I have
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another video that kind of breaks down
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they finally have some data that's
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showing you know how much impact this
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that first twelve hard dollars check the
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ones that actually got the check how
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that actually has impacted the economy
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and where that money is being spent so I
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think right now we're just waiting to
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see you know just getting some data back
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on that seeing how much did it actually
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stimulate the economy and what else
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needs to be done so that is you know
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some of the first steps and then just
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seeing like what else is going to happen
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you know we got to see how quarantine is
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playing out when we start opening up
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States I know here in Tennessee you know
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we have oh I guess we're in phase one of
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reopening the state like I could my
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family night we could go out to eat in
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some restaurants we haven't yet I've
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went to a local coffee shop a few times
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twice just to kind of see how it is and
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I felt safer there because they
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definitely abided by you know just the
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Cova 19 safety I guess I like the word
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here just being safe being making sure
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that they're like sanitizing everything
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making sure that you know they're
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cleaning everything they've got the
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whole social distancing thing down we
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got about 50 percent capacity some
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neighborhood friends of ours they went
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to a different restaurant and there they
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weren't wearing masks they weren't
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wearing gloves they weren't wiping down
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the the menus afterwards and I have not
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checked here a few days but Coppa 19
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cases are still very much a reality you
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know we're not seeing much of a decline
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and I think that's just the big thing
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right we want to see how that's going to
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play out so there's still a
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be a lot of activities you're gonna be a
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lot of updates coming on this secondary
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seamless check because there's so many
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people that are voicing this you know
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even more Cuban you know he voiced
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whatever that means right unless you're
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a delicate Dallas Mavericks fan but you
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know he voiced his concern or basically
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just that the government's need to do
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something which I always find
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interesting when a successful
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entrepreneur you know is backing
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socialism in essence but whether it be
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socialism or not I mean this is just
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this is a different situation you know
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this is not people like we could talk
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about this and I know like I'm I'm I'm
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not Pro socialism but I am pro helping
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out people on a pandemic that nobody
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planned for you know this is this is
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nothing it says this is the
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extraordinary this is the exception you
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know this is not somebody that lost a
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job and they didn't have enough savings
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you know they do have a plan B anyway
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this is something beyond everyone's
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control so that's why you know I'm not
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definitely Pro socialism by M Pro
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helping people out and that's why it is
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interesting to see if folks like Cuban
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and other successful entrepreneurs that
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are supporting something so that's what
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we got going on right now so we cleared
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I guess one hurdle passing the house
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which was to be expected but now it's
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like all right so now I mean this is
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where parties are gonna play both sides
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right so Democrats are saying hey we are
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at full favor of a secondary check and
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Republicans saying like no wait wait we
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wait and see
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you know we we're and they can't say
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they're not supporting a second check
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because there's so many Americans right
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now that are hurting that you know
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they're they're gonna have to come up
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with some different language on what how
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they're going to support this or how
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they're going to spin it or they don't
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say if we're then it sound like they're
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not supporting the American people so
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that's that's just the bun that that's
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why I don't get a politics that's why
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I'd rather just do this do YouTube you
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know talk about money talk about
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investing how about growing your wealth
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that I enjoy that so much more thank
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goodness I did not get
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politics where do you think what do you
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think you how likelihood do you feel
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that some sort of secondary Simlish
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check is going to pass like hi I firmly
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do believe that a second one's going to
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pass on in its current form absolutely
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not
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but I do feel like they're going to
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issue some sort of secondary payment
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don't know what's gonna happen don't
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know how quick it's gonna happen don't
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know if it's they're gonna update the
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ability to get checks to you faster
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hopefully they will but I do feel that a
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second one is going to happen I feel it
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I believe it not putting my money on it
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but I do feel it's gonna happen do you
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think it's gonna happen how do you think
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it's gonna play out
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let us know in the comments below and
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also too if you have anything you'd like
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to share that you think is beneficial to
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the both hacker community drop it in the
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comments below if you share links it may
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get flagged initially if it long as
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you're not trying to promote something
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spammy not trying to sell any crypto
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currencies that are selling for less
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than fifty cents that sorry I had to
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kind of say that but yeah well it's not
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promoting anything that I think is going
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to hurt people all the stuff gets
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flagged my assistant will approve the
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ones that we think are helpful so just
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give us some time our Cho this is Jeff
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rose reminding you that it's your money
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it's your life no you can make it
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awesome until next time peace
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