Second Stimulus Check Update: TRUMP Signs Executive Order (Explained) JUST YESTERDAY, August 9th 2020, President Trump signs an executive order to enact FOUR major items to stimulate the country's economy and the effort to fight the virus. In this video, we're going to breakdown the Executive Order and how it will impact you! 0:00 - Introduction 0:18 - President Trump signs Executive Orders 0:33 - Unemployment Benefit of $400/Week 1:02 - How Will It Be Funded? 1:30 - How long Will it Last? 1:55 - Payroll Tax Deferral 3:21 - Student Loan Deferral 4:37 - Eviction Moratorium Extension 5:52 - Summary of Executive Order 8:45 - Conclusion 1. Unemployment Benefit of $400/Week Effective Immediately, President Trump signs an executive order to extend the Weekly Unemployment Benefit to $400 a week. Previously it was at $600/week. The Benefit will last until December 6th or whenever the source of funding drops to $25 billion. The funding is coming from FEMA ($44 billion) and it's being reappropriated to the Unemployment Benefit checks. 2. Payroll Tax Deferral The executive order signed by President Trump will temporarily pause all payroll taxes for individuals making $100,000 or less a year. That means, for every $100 you earn, you get to keep $7.50 more of your paycheck. Which helps working individuals to keep more money in their pocket instead of it going towards the government. This Executive Order will kick in September 1st through December 31st 2020. 3. Student Loan Deferral The current student loan deferral and 0% interest on all federal backed student loans will be extended until December 31st 2020. The executive order allows individuals with student loans to not pay their student loan payments. However, I encourage individuals to continue making payments if they're able to as it will greatly reduce interest payments and the time to pay off the student loans. 4. Eviction Moratorium The executive order places an eviction moratorium. This may be a reprisal of what we've seen in the CARES Act which was passed back in March 2020. The CARES Act placed a 120 days ban on evictions. The eviction moratorium effects any real estate financed by mortgages backed by the Federal Government. We can expect to see the eviction ban last til the end of this year. With all that being said, we have to pay attention to what will happen to the Executive Order and see if it'll stand against the courts and the congress' resistance. Previously, executive orders have been used and almost always challenged by the Legislative branch. 😃 Thanks for Subscribing & Liking our Video! 📧 Get Our 1:1 Real Estate Investing Coaching and Mentoring: https://thekwakbrothers.com/thekwakbrothers ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 📡 PROTECT YOUR ONLINE DATA AND ACTIVITY WHILE CLOSING DEALS AND GENERATING NEW LEADS WITH NORDVPN: https://go.nordvpn.net/aff_c?offer_id=15&aff_id=40858 🔊 Our Podcast Channels: 📻First Deal Experience: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📻Landlording Automated: 🔹Spotify: https://open.spotify.com/show/1LTAeRg2ZAT1ATI1mdtWM0 🔹iTunes: https://podcasts.apple.com/us/podcast/landlording-automated-podcast/id1504548975 GET SOCIAL WITH US: 📣Facebook: https://www.facebook.com/thekwakbrothers/ 📣Instagram: https://www.instagram.com/thekwakbrothers/ 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #trump #executiveorder #stimulus ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.