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As the $2 Trillion Dollar Stimulus Package nears approval, here’s what this means for you, and how to claim your potential $1200 – enjoy! Add me on Instagram: GPStephan
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So, here on this channel, I don’t typically cover news-related content on current events…unless it has to do with the Stock Brokerage Drama between Charles Schwab and Robinhood…but, this topic today is a SIGNIFICANT and UNPRECEDENTED event, that’s happening RIGHT NOW…and it’s important enough to discuss, because this will MOST LIKELY DIRECTLY affect the majority of you watching my channel…so, you’ll want to listen closely…and not forget to smash the like button for the YouTube algorithm…because you might soon be getting a FREE $1200 from the government…and this is why.
The $2 trillion dollar package in place today is going to be broken down, as follows, pending final sign-off:
First, about $250 Billion Dollars is expected to go directly into the pockets of individuals and families. Each eligible adult will receive up to $1200 from the government, and the amount would go up by $500 for every eligible child in the household. Married couples can receive $2400 up to an annual income of $150,000, as well.
This package also includes a MASSIVE expansion of unemployment insurance, which increase the maximum unemployment benefit by $600 per week, to ensure that laid-off workers, on average, will receive full pay for FOUR MONTHS. This could be EXTREMELY valuable, especially considering that GIG WORKERS are now be eligible to take advantage of this benefit – something that’s never been done before.
In addition, the plan also calls for a MASSIVE Cash Infusion for the Health Industry of $130 Billion Dollars.
States and Localities are also set to receive another $150 Billion Dollars to set up further infrastructure to help get them through.
A LARGE chunk of this money goes back into businesses….one, is that this package reportedly includes a $367 Billion dollar Fund for the small business loan program.
There have also been talks that, while many of these loans WILL have to be repaid, there will be interest free options, and companies with 500 or fewer employees could tap up to $10 million dollars each in forgivable small business loans to keep the paychecks flowing to their employees…MEANING, if companies oblige by the terms of the loan for a set period of time…they don’t have to pay them back.
Next, is a $500 BILLION DOLLAR Loan for larger businesses who were hit hard, like the Airline Industry. Now, part of the stipulation with this is that – if these larger companies take the bailout money – they will be PREVENTED from using any money to buy back their own stocks for the first year, or use it towards executive bonuses. This loan will also be heavily scrutinized and monitored to make sure it’s being put to appropriate use, as well.
And, as far as the impact goes to our entire economy…obviously, so far, the stock market likes it, and it’ll only be a matter of time to see how this plays out long term. It would make sense that, perhaps we start to see further inflation, as more money gets pumped into our economy. BUT, I also feel like – once this blows over, things could begin returning to normal relatively quickly.
This is also just a REALLY good reminder to always save your money, even when times are good, and even when you don’t think you need it. Sometimes, things like this happen – and, it’s up to us to do our best to prepare for them when, and if they happen. Keep that 6 month safety fund, save your money, and smash the like button for the YouTube algorithm.
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*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.