Here’s an update on the NEW Stimulus Proposal that would give each eligible person $2000 per month, and my thoughts about how likely this is to happen - Enjoy! Add me on Instagram: GPStephan Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1400):
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To start, here’s the proposal currently in place:
First, every American Adult age 16 and older, making less than $130,000 annually, would receive $2000 PER MONTH. That would be DOUBLED for married couples…meaning, if they make less than $260,000 combined, they would receive $4000 per month.
Qualifying families with children would receive an additional $500 per child, up to an additional $1500 per month.
For every $1000 you make ABOVE that $130,000 and $260,000 income threshold, the total payout will be reduced by $50…meaning, if you make more than $170,000 filing single, or $340,000 filing married - you won’t be getting anything.
Next, these monthly cash payments would not count as income - meaning, this is going to be TAX FREE
And, If you had no earnings, were unemployed or are currently unemployed, you would still be eligible.
This would also apply for college students and adults who are still claimed as a dependent by someone else.
The language in this bill also extends payments to non-residents of the United States, as well, depending on certain qualifications…and, also allows payment to be made through “an electronic transfer application that can be used on mobile devices to receive payments.”
If passed - these payments would be guaranteed for at least 6 months, and then - if employment levels have not fully recovered - it can be voted on to be extended ANOTHER 6 months.
Overall…this is a REALLY complex matter, and it’s understandable that not even the Senate can come to an agreement on these things with WEEKS of discussion. Ideally, we can come up with a balanced plan that works for everyone, and gives support to people who have been affected by this the most…in a way that’s well executed, and fair to the people who were NOT impacted, and continue to work.
It’s clear people definitely need more money…but, it’s unclear exactly how much it’s going to be…so, don’t get your hopes up about getting an extra $2000 per month…and, I wouldn’t put too much faith in this actually panning out.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
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