Second Stimulus Check Update - July 24th 2020 Here are the latest news and update for your second stimulus check update. 1. A New Bill to be Introduced Next Week Senate Majority Leader Mitch McConell(R) will be unraveling a new bill on the floor early next week. (Monday Probable). This bill contains the second stimulus provisions. Now an issue with the bill be unraveled on Monday, this gives the Senate only 10 business days to get the bill figured out between Republican and Democrat lawmakers, before the session ends. Some political commentators believe this is NOT enough time to iron out the details in the second stimulus package bill. 2. $1200 Direct Payment CONFIRMED Now this is what everyone is wanting to hear! So I can say this is highly likely, that the amount of the second stimulus check will be a $1200 direct payment, with the same provision we saw in the CARES Act we saw back in March. AND with those same provisions of the CARES Act, those who make $75,000 or less will be included in the second stimulus check distribution. 3. PPP Funds Are On Their Way We are seeing some new funding for the Paycheck Protection Program. Now this is great news for businesses that have suffered from the pandemic that were unable to pay their employees because of lost revenue. There is a new provision for the PPP loan this time around, it will only be distributed to those businesses that suffered a 50% drop in revenue. 4. Unemployment Benefit Extensions Likely There is finally some clarity on what will happen with the Unemployment Benefit. Instead of the $600/week, it looks like the amount will be reduced to $200/week until December of 2020. So just a quick summary: We can expect to see the second stimulus provisions presented on Monday. Let's just hope the Senate can work within those remaining 10 business days to get something agreed upon before their session ends. The second stimulus check looks like it will remain the same guidelines as the CARES Act. So that means a $1200 check for those who make $75,000 or less, $500 per child in the family. And I believe we can expect this to be in your bank account by mid-late August based on how the previous stimulus check was made. But in all honesty, I wouldn't be surprised if it hit bank accounts earlier because we have already had a stimulus check distributed. The unemployment benefit will be extended, but it looks like the amount will be reduced to $200/week instead of $600/week. 😃 Thanks for Subscribing & Liking our Video! 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 #secondstimulus #senate #secondstimuluscheck ======================== ---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.