Second Stimulus Check Update - HEALS Act Obstacles!!!!! Second Stimulus Check Update July 29, 2020. Senator Mitch Mcconnell officially presented the Senate, yesterday, the second stimulus check also known as the HEALS Act. HEALS stands for Health, Economic Assistance, Liability Protection, and Schools Act. 0:00 - Introduction to the HEALS Act 0:38 - $1200 Direct Payment Second Stimulus Check 3:08 - Liability Protection Provision 3:45 - Unemployment Benefit 4:55 - Paycheck Protection Program 5:25 - Eviction Moratorium 6:08 - EIDL Fund 6:31 - Hazard Pay 6:45 - Not Likely Provisions 6:55 - Republican Civil War 7:54 - Challenges for HEALS Act passing Again in the LIKELY category on the second stimulus check update scoreboard is: The Second Stimulus Check: The second stimulus check is confirmed, once again, the same provisions as the CARES Act, $1200 stimulus check for individuals, $2400 for married couples who file taxes jointly, and $500 per child dependent. Now that's the full amount for Americans that make $75,000 or less as an individual and for married couples that amount is $150,000 or less. Now the changes with the $500 for dependents, there is NO age cap for a child who is still being claimed as a dependent on the filer's tax return. When will we see the second stimulus check? I am guessing you'll see the check around the end of August to mid-September. Again that is just an educated guess based on the previous disbursement of checks. Business Liability Protection: Senator Mitch Mcconnell said that the provision of the Heals Act that covers the liability protection part of the bill is non-negotiable. The Democrat Senators can agree for that part of the bill, as long as they can include hazard pay for front-line workers. Unemployment Benefit: The HEALS Act introduced a $200/week provision, taking away the $600/week original unemployment payment. Starting in October, that will be adjusted to a 70% payment of the individual's salary from previous employment. The Paycheck Protection Program will be applied to businesses that have lost 50% in revenue and are on the likely list still. K-12 Schools will receive $105 Billion dollars in funding with the HEALS Act. Eviction Moratorium: There is no current provision for an eviction moratorium for the HEALS Act. BUT.....State Governments will be looking to pass an eviction moratorium for their citizens. It could also be used in the negotiations of the HEALS Act for Democrat Senators. The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom) 📧 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 #HEALSACT #secondstimulus #senate ======================== ---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.