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Hey, this is TJ with solutions by tj and today we'll be giving my fourth update for the stimulus package. Now, a lot has happened since I last talked to you. Last week, stimulus package number three became law, was signed by the president. They have also proposed an act that will put more money into the hands of the American people. That will actually be the fourth stimulus package. Let's get into it. In stimulus package number three, $310 billion went to the Paycheck Protection Program, $60 billion went to the economic injury disaster loans, hospitals and health care system. Got $75 billion to cover the gap between them doing elective surgeries and not being able to do that because of COVID 19. They have also designated $25 billion towards testing and setting up the infrastructure for that testing to occur in the United States of America. Stimulus package number four will include the Emergency Money for People Act. And before I talk about all of that business stuff, because that's basically what the stimulus package number three was. It was dedicated toward helping the American businesses as well as the healthcare system. This fourth proposed stimulus package, it'll be money into our pocket. So let's get into that and talk about what that'll mean for the American people if that becomes a law. Again, it's called the Emergency Money for the People act and includes monthly payments of up to $5,500 for families with children, $4,000 for married couples, and $2,000 for individuals. Now, the new eligibility requirements are a lot less stringent than they were when for the $1200 that each of us receive, every American age 16 and older making less than $130,000 annually would receive at least $2000 per month. Married couples earning less than $260,000 would receive at least $4000 per month. Qualifying families with children will receive an additional $500 per child, up to three children. If you have more children, three children will be your qualification maximum. Those who had no earnings who were unemployed or are currently unemployed would also be eligible at this time. Those who were not eligible in 2019 or 2018, but would be eligible in 2020 could submit at least two consecutive months of paychecks to verify income eligibility. You must be a US Citizen to receive these payments. College students and adults with disabilities who are still claimed as a dependent will be eligible during this round, regardless of whether somebody claims them or not. They will get their own $2,000 per month, and the individual that carries them on their taxes will still receive that $500 credit for the dependent let's compare the two plans. Okay. The first plan was called the Economic Impact Payment. It included $1,200 and it has already been signed into law. A lot of American citizens have received their checks or or if they were not signed up for a direct deposit, those checks are going out in the mail now. It was a one time payment. The maximum income was $75,000 for individuals. College students and disabled persons were not eligible for that $1200 payment if they could be counted as a dependent on someone else's taxes. And the money was sent only via direct deposit or paper check. Now for this new app, it is a proposed law. The last one took about two weeks to become law before it went to the President and was this one. We'll see this week may show that we this act will pass or maybe not. We'll see Right now it's just a proposed new law. It's proposed that we'll get a minimum of six months worth of those payments of the $2,000 a month. They are determining that by the unemployment rate. When the unemployment rate equals 60% or higher for ages 16 and above, then these payments will end for that $2,000. The maximum income for individuals to qualify is $130,000. For couples, it's now $260,000. Individuals will get $2,000 a month, couples will get $4,000 a month and families get, like I said, $500 per child per month for up to three children. College kids and disabled persons would receive the payment regardless of their dependent status. You can receive your money via venmo Zelle or PayPal in addition to the direct deposit and paper check option. So how do my fellow Americans feel about this? Do you guys think we deserve or we should get stimulus checks and additional money to help us survive during this time? Since so many people are unemployed and so much is going on right now, most Americans want this to pass. According to a survey that was conducted by WalletHub, 84% of Americans want another wave of stimulus checks. 160 million Americans are less than three months away from running out of money. Now, I bet that's two months now because at least a month has passed since I've been in this house. In my safe zone. 62% of Americans think all workers should get a stimulus check. And 65% of Americans say that stimulus checks are a more effective way to help American families than canceling rent or mortgage payments. And I agree because with that money you can at least still buy food. So let me know in the comments what Your thoughts are about this new stimulus check. So let's get into stimulus package number three. Like I said previously, it was mainly geared toward helping businesses and the healthcare system. There was already a stimulus package that included a paycheck protection program. This time they are giving $310 billion in a forgivable loan toward the paycheck protection program that's aimed at helping small companies cover payroll and other ESS expenses for roughly two months. Now my question is, is this another loophole or are there still loopholes for Big Willie? Because last time they gobbled most of the money up and the little guys really didn't get anything. Here are a few big Willies who did the right thing. Though. The funds were intended to go to businesses with 500 employees or less, large restaurant chains like the Shake Shack and Potbelly were each granted 10 million dollar loans. Both have since said they'll return the money. Ruth Chris steakhouses were granted 20 million, which has also said that they will return the money as well. And you guys know Auto Nation. They're really big in Houston at least, and it's one of the country's largest car dealer chains. It's valued at $3 billion according to the Wall Street Journal. And it also said that they'll return the $77 million loan that it received. Now again, these million dollar loans are forgivable. That's huge. The Fisher Island Community Homeowners association got a two million dollar loan which they're talking about sending back as well. So some businesses are doing the right thing now since there was such a discrepancy with the last payments going to small and medium sized businesses, they have dedicated $10 billion of the new funds to be set aside for medium and small community lenders and that money will go toward small businesses. They are also giving a cash infusion for the health care system. The bill provides $75 billion to hospitals and health care providers who face budget gaps created by a slowdown in elective surgeries and the surge of patients sick with COVID 19. Now we definitely need more testing in the United States and they've designated $25 billion to go to accelerate testing efforts across the country. Tasking the Trump administration with creating a national plan to assist states to expand testing efforts. I want you to comment below about what you think. Let's talk about first the US Citizens. Will this fourth edition of the stimulus package become a law and will it really help the American people? What are your thoughts? How will this affect America regarding the businesses? Will the funds help small and medium sized businesses stay afloat or will, well, Big Willie, take it all again? Those were only a few businesses that decided to return loans, but there are businesses that are much larger than those that have not returned those loans. And that 60 billion compared to that 310 billion. The big guys are still getting most of the money. Regarding testing, will we ever really know who all has it, who all has already had it, and where this COVID 19 coronavirus is? When will this end and when will they create a vaccine? How long will will this go on? So you know, I've had projections from family members saying that this will be well into September. Some of the colleges here have already said the first semester they're closed down. I think the Texas A and M system or maybe UT has already put out a statement they're closing down for the first full semester. Some people are even saying this is going to go on for full 2020. What are your thoughts? Comment below. Let me know exactly what you think. Like I said, subscribe to this video. I've done a lot to create it. Boy, this one was tough to create. I don't know why, but it has taken me a long time so I would so appreciate it. If you enjoy these videos or even like the information that I'm giving you, please subscribe to my channel. It would just warm my heart and I need a little encouragement right now. So thank you so much for watching. Subscribe Hit the notification bell and share this with everyone that you think will benefit from this information. God Bless. Y' all have a great day.