Second Stimulus Update: $600/Week Unemployment Extension Likely

My Sources:

https://thehill.com/homenews/senate/508523-gop-mulls-short-term-unemployment-extension

https://www.cnbc.com/2020/07/22/coronavirus-stimulus-republicans-consider-unemployment-insurance-extension.html

https://www.nbcnews.com/politics/congress/senate-republicans-mull-short-term-extension-boosted-unemployment-benefits-n1234613

Direct Payment Second Stimulus Check:

Congress, The Senate, and the White House are all in favor of a second stimulus check, but at this point the details are not clear for the amount, who will receive a second stimulus check, or when the check will be sent out.  There are still some provisions that are being ironed out for the second stimulus check, so stay tuned.  

Payroll Tax Cut:

President Trump and the White House have dropped the demand for the payroll tax cut, which would of costed $600 Billion dollars.  So now the payroll tax cut is a very unlikely provision that will go into the second stimulus package.  

$600/Week Unemployment Check:

The unemployment benefit is set to expire July 31.  Most likely, the unemployment benefit will be included in the stimulus package but according to sources, will be drastically reduced to around $100-$200 a week, according to GOP lawmakers.  An extension for the unemployment benefit will probably extend to December of this year.   But Republicans are in favor of extending the unemployment benefit in agreement with Democrat lawmakers.  

Funding For Schools to Re-Open:

Currently, Republicans want $105 billion dollars for school funding.  Democrats want $400 billion dollars for school funding.  These provisions are still pending.

Liability Protection For Businesses That Are Going Through Lawsuits: 

This was a proposed provision from Republican lawmakers.   

Again what is likely:

A direct payment to citizens but there is still no confirmation of amount, who gets it, or when it will be distributed.  

Unemployment benefits are likely but we still do not know the provisions and the amount but it is URGENT because of the expiration date.  

School funding is on the table but an amount is still being figured out.

Whats not likely:

The $4000 tax credit for travel and the Payroll Tax Cut.

Now there are conversations being held in Congress for the leftover funds from the CARES Act.  There is some billions of dollars left over that is available.  So instead of funds just sitting there, Congress is looking to put those funds into the second stimulus package.  

Now for the EIDL Grant & EIDL Loan:

There is a CHANCE that the $1000-$10000 grant will be back.  On the Senate floor there is a bill that is looking to put more money into the EIDL program.  

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