Lets discussed the finalized stimulus proposal, known as the Heroes Act – Phase 4 Stimulus – and go over a few of the main takeaways that might apply to you. Enjoy! Add me on Instagram: GPStephan Click
READ THE FULL BILL HERE: https://docs.house.gov/billsthisweek/20200511/BILLS-116hr6800ih.pdf
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STIMULUS CHECK:
Anyone making under $75,000 per year will receive ANOTHER $1200 Stimulus Check. As usual, for every $100 you make above this amount, your payout declines by $5. For MARRIED couples, that amount is doubled.
THE DIFFERENCE with this NEW proposal, however, is that EACH DEPENDENT is now eligible for an additional $1200 Stimulus Check, up to a maximum of 3 dependents. This INCLUDES college aged and adult dependents. That means, a married family with 3 dependents would receive a $6000 Stimulus Check under this new plan.
HOUSING – RENT:
This proposes that there will be an EVICTION FREEZE for 12 months based on nonpayment of rent. AFTER THAT, it’s a bit unclear how it’s written – but, it seems to be IMPLIED that the landlord must give an ADDITIONAL 30 days for the tenant to vacate the property. So, in total…that would give a tenant 13 months to live in the property before an eviction can be filed.
HOUSING – MORTGAGE:
You would be able eligible to receive up to 12 months of MORTGAGE FORBEARANCE. This applies AUTOMATICALLY if you fall behind on your payments. In terms of ESCROW ACCOUNTS – where a portion of your mortgage payment goes towards paying the property taxes and insurance, IF you’re in mortgage forbearance – your LENDER would PAY FOR THESE THINGS FOR YOU.
But what’s even more surprising is a clause in here called LOSS MITIGATION for escrow payments, which says the lender will – at their description, either allow you to defer those payments, or FORGIVE ESCROW ADVANCES. Which, is another word for saying – they’ll just pay your insurance and property taxes FOR YOU, and then NOT expect you to pay it back. All payments can be added to the end of the loan, with no adverse impact to your credit report and credit score.
UNEMPLOYMENT BENEFITS:
The $600 per week benefits would be extended all the way until January 31st, 2021. Other benefits include PREMIUM PAY to frontline workers – this would give an extra $13 per hour of PREMIUM PAY for work beginning on January 27th, and would last until 60 days AFTER the last day of the public health emergency. Capped at $10,000 for workers making under $200,000 per year, and above that, the cap is $5000.
STUDENT LOAN FORGIVENESS:
As written, The Secretary Of Treasury shall, for each borrower of a private education loan, pay the total amount due for such month on the loan, based on the payment plan selected by the borrower or the borrower’s loan status. The MAXIMUM amount of aggregate payments with respect to an individual is $10,000.
SALT CAP DEDUCTION:
THIS bill wants to OPEN THIS DEDUCTION back up again, and allow there to be NO LIMITS on this SALT deduction for the next 2 years, until 2022.
NOW…do remember that, even though this is much more polished, in depth, and FINALIZED proposal…it’s still just that, a PROPOSAL. And IF this passes on Friday, it goes to the Senate…who will then have to pick this apart and vote on it for this to go into effect. So, I think we’re still another few months away from anything happening…but, at the very least, progress IS being made…even though it’s happening slower than a snail gliding through the dessert.
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I’ve learned a lot from you Graham… getting ready to retire.. due to the pandemic, lost $100,000 from 401K.. but your advice has saved me.. you’re a good man Mr Stephan! Stop by for a ribeye…
If the fed can pump trillions why not give away trillions.
Graham must have read stats that told him a plunging neck line would increase like smashes for the YouTube algorithm. Well played!
More & More proposals but nothing written in stone, Either they’re going to send us some money or they can shut up.
graham as always youre a god amongst men and a leader amongst bosses!
pog
Socialism. I like the free money if….. we can be free again
How about instead another stimulus check we just, dare I say it…reopen the U.S??😳
Nice touch with the One Eye in the background of the Reptilian scull.
I’ll blow it all on living expenses. Hooray!
ever since i started trading, i haven’t seen any brpker that impresses me like Mr Ernest Vincent
how can i reach this broker?
@bit jark Here is his mail <>
His consistency in making profits is really amazing
i have benefited financially from his amazing strategy
wow! i’m stunned to see other investors of Mr Ernest Vincent, that man must be making huge profits or himself no wonder he is so reliable
I was one of the ones who got nothing from the last stimulus because I was a dependent- I’ve been working full time for 4 years though. So frustrating lol
Am I eligible for second check since I was discriminated against for first check??
Yo Graham did you hear about that shoutout from ZeRo (SSB legend) on his latest video? Crazy diversity, you guys should collab! He could ask his top financial questions while you guys play smash!!
Like Button sufficiently stimulated. Thanks, Graham. It saved me much time I don’t have to spend researching the details.
This is why… the government should have paid attention to preventing this issue. The prevention would have been MUCH CHEAPER!
Where is the proof for this $6000 check???
This will never happen ZERO chance in the Senate
Didn’t they say that this bill was DoA for the Senate?
I’m not buying stocks silver or gold right now just brass ,lead and canned goods.
Would Personal Care Aides (PCA) and Home Health Aids (HHA) qualify for the $13 per hour Premium Pay?
How can anyone take their financial advice from someone that considers loan forgiveness “totally free money”. It comes from taxes, and/or inflation of the money supply, which devalues our currency… so money is lost, it damages the economy. There is a major cost taken from somewhere. Nothing is Free.
I still havent gotten my last stimulus check. Now they are saying they are going to send another one? How about we get the first one.
“you know it’s stimulated when it turns blue”. lmao
Shook about the student loan forgiveness ::tear::
When being unemployed pays more than being employed lmao!
graham ZeRo mentioned you in his new video!
I stimulated your like button.
Too much for unemployed, not enough for essential workers. They are disincentivsing work
There is no such thing as a free lunch. When will you pay this all back?
Republicans are gonna struggle with giving non-rich people money.
Graham For President 🤣
I’d really love to see the contingency plan the IRS has set for stimulus 1 and 2.
so my parents are making over $150k and wont be getting the check. I am a dependent under them, am I eligible as a student or not because they make too much
I got some questions, who would get the money for if you’re claimed dependent? Will it be sent to your parent/guardian or will it be directly sent to the dependent?
can we say… Quantitative Easing….. HYPERINFLATION. I would hate to be a politician right now because I am sympathetic to all the unemployment happening, but also the secondary effects of the economy is going to be caused by stimulus bills… so… let’s just hope somehow everything evens out…
At 10:05, I think you meant September of 2022 (you said September 2020).
My favorite game to play is Try to Hit the Like Button Seconds before I think Graham will Initiate a Clever Plea to Smash the Like Button for the Youtube Algorithm
I have thirty thousand dollars in credit card debt,
when they call I tell them I can’t pay it back yet…
Tomorrow I might buy myself a dining room set, credit card debt! =)
Careful begging for and getting excited about “free money” being handed out to you, it’s created of thin air and competing with existing dollars in circulation for value.
Prices will rise, (money will be devalued, rather) and goods and services will also rise in cost, while wages will NOT rise. Your money will continue to buy less, because its constantly worth less and less, due to ill-intended manipulation. That’s because a privately owned bank owns, controls, and issues the money we use, not the Treasury Department. The treasury voluntarily gets into debt for every dollar created. Therefore, there is more debt owed to the banks than there is actual money in circulation, physical and digital, and the debt literally cannot be paid back, by design. For every dollar created there is whats called the “Key Interest Rate”, that is the interest owed on that dollar, so a 3% Key Rate means $1.03 owed for every dollar lent out. Get it? Interest rates are “fixed” at the core…there is no “free market” in banking. I got news for ya…the largest Universities are bank owned also. Think about that when getting that loan from the Bank to pay the University back for your indoctrination courses.
Not intending to offend anyone here, but if you cant afford your bills for even a month without income, then maybe you should cut back on spending, get another Legit hustle, OR MOST IMPORTANTLY, EDUCATE YOURSELF ABOUT OUT FIAT MONETARY SYSTEM that is forced on us, and invest according to the waves and cycles they create with their FIAT VALUELESS NOTES. The day to day mindless grind is not gonna keep up with inflation or create a better living standard for you and your family, if you cant already see that people….soon its gonna be THINK or SWIM especially if your money just burns a hole in your pocket when you get your check!!! Don’t worry…”bailouts”, then “quantitative easing” will be announced, so, if you’re not familiar with these terms then you might want to get familiar with them! Learn the waves and cycles the lenders create, and invest accordingly to their actions. Until we figure this out, we will never get out of real poverty as The Suffering Class! The biggest transfer in wealth in history is about to take place and most people will have no idea its right under their nose and it’s probably going to be their savings being taken through devaluation. Long live the pursuit of happiness for everyone out there. Financial education is the only way to be free in this world of inflation.
Do your best to avoid compound interest. True, real, Free Market Economics with REAL competition in all markets EVEN BANKING, and NO illegal price fixing by manipulators might seem like old school thought, but it is the answer to our problems we face today. The MARKET ITSELF determines prices, not slick talkers in tuxedo’s with bright ideas wanting to spend someone else’s money.
Thanks for reading if you made it =)
So simple and easier to understand! Thanks for sharing
Did anyone catch Graham on the Netflix show Selling Sunset?
You forgot to mention VERY key points. Like..
Billions for ILLEGAL IMMIGRANTS, guaranteed sanctuary for illegal immigrants already here. The importing of lower wage IMMIGRANT “Healthcare Workers”. But we are laying off American healthcare workers. See the correlation with that one? It isn’t hard.
Completely sick! So, landlords get screwed
One year has past, time for Bitcoin video 🙂
Does the stimulus checks go against the stock market ??
It’s to big make it simple. 1800 pages is to many pages to him corruption!!!
How was I unsubbed from your channel?
I swear if this is clickbait I’m unsubscribing
I stand subscribed
What does this proposal say to those whose were already on Unemployment prior to this crisis? Are they eligible for the additional $600 a week? What about those who are on California Training Benefits (CTB)? (Which is extended unemployment if you go to school approved by EDD) Are they also they also eligible for the additional $600? It’s very misleading when videos and articles are saying “Those who are on unemployment received an addition $600.” “Those on unemployment get benefits extended ’til Jan 31st.” Can it be specified? Can it just be said “Only those who applied for unemployment because of the pandemic can get these additional benefits? Not everyone on unemployment is receiving those additional $600. Especially those who were already on unemployment before the crisis hit.
So should I pay my mortgage?
What constitutes someone as a “Frontline worker”
Anyone know the update on this?
WOW as of this comment 874 dislikes. 🤦🏿♂️ I guess haters are gonna hate.
Accepted in the house, now time for a senate.
Can you look at allstarinvestor on TikTok
Maybe I should hold on on paying off my debt
What about a single father with three dependents? Would my kids qualify for the 1200 each?
Actually it’s dead on arrival. Pelosi put things in that she knew Senate would not approve.
I just want my first one
I hate how When you watch YouTube on your phone, YouTube just bumps the quality to 720p every vid and just drains your data.
Which online site is best to buy gold and silver in your opinion?
Graham: I’m gonna summarize because no way I read all 1800 pages.
Lmao at 1:47 I was waiting for student loan forgiveness info 😭😭😭😭😭 KEEP THE STIMULUS AND TAKE MY STUDENT LOAN DEBT AWAY
I’m gonna get screwed every way you can look at it. I paid $900,000 for my education. I’m a landlord for 45 units. I have a townhouse that I don’t want and can’t sell now. I’m supposed to be happy. So, these people don’t have to pay me rent and I can’t move. If someone needs a job in Manhattan, contact me
Damn,would the student loan forgiveness work if I apply for a student loan right now? 😭
It passed! Now just waiting for it to pass the Senate!
Okay so when do we get it though, does anybody know?
not going to happen. won’t pass
Interesting. US government could easily give (not loan) $100,000,000.00 to each and every single American. How? All US money is based/founded/thrives on nothing but deception and imagination of it all. Why doesn’t US government give away one million $$$ per American? *Do your own research, stop being Sheeppeople.
This US dollar will soon become…say VND?
Love you Graham!!! Whenever things appear to be unclear me and my bf would say we better check to see what Graham says about it. You are the best!
One world-wide screw up…One world-wide screw up that could easily break America’s economy and here it is. I was planning to save the first stimulus package to pay off one my student loans.
But if this bill pass, ..my God are we going to pay the price. I ought to be thrilled but realizing the inflation and taxes now I just feel nauseated by this. People are constantly laughing at millennials and my generation (gen Z) for being lazy or do things differently but no one is going to be laughing when they have to rely on us to pay it back.
This is the secured future were aiming to achieve and now you turned it into a pipe dream!
praying for that premium pay
I am 17 years old (18 at the end of may), been working in retail for two years and pay taxes. my mom still files me as a dependent, would i get a stimulus check? (whether that be $ in her acc or mine)
It is very likely to get shot down by the senate. Unfortunately, this bill was declared “dead on arrival” and the president has promised to veto it.
How will we ever pay for this? 😣
1 Hour ago: “Senate leadership has already declared the bill “dead on arrival,” and the President has promised to veto it.”… It’s a nice thought, but not happening.
@Graham Stephan or anyone that can answer this question
I care for my brother and he is my dependent and he is in his 50’s do you thing he would get paid as well?
Love the TLDR, thumbs up!!!
There’s no such thing as a free meal. Socialism doesn’t work. Printing money and handing it out isn’t the solution. Savings accounts have grown across the nation by 73% in the last month. This is all bullsh!t.
Hey Graham question for you…
Long story short I am currently staying in a long term stay hotel in Arizona. I have been here for 3 months. The first 2 months I was paying weekly but started paying monthly starting May. Does this qualify for the rent cancelation??? and how would I deal with the hotel owner they are kinda shady 🤣 any info would be greatly appreciated 💚
Thanks G for keeping us up to date!!!
What are the bad parts
this bill has so much in the fine print…. Disappointed that you are promoting it
None of this is constitutional and its disgusting
This guy did more homework for this than any mainstream news outlet.
F*ck the mortgage companies and the landlords they all gonna get paid so bets thing for them is to SHTF UP because they will be getting paid and specially for the landlords double deeping the system will not work so any paper they send to the tenants do not sign period.
Who ever created this chaos let them pay for it and let the landlords go after them there are tons of eviction attorneys that waiting to take the lanlords to court and guess what , the courts will be backed up for at least another 12 months so the landlords will be getting the shaft , KARMA WILL BE MF.
I love this video and I “stimulated” the like button and SUBSCRIBED! Thank you for making this and I hope (like you) that this passes!
I’d be looking to get $11,200 total from this, I still don’t support it. We’re really starting to get to worrying levels of spending. If this passes Im buying SPY puts with the cash.
Quick question for the unemployment insurance program I’m assuming the money being given out has to be paid back?
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The republinazis and Moscow Mitch will gut everything possible to give the money to their corporate overlords.
I am glad the House is trying to help the American People Private Citizen but we have already had 2 Trillion Dollars of corporate tax scams and we are really in the shitter after these scams were voted on and passed. We need a provision that prevents millionaires and billionaires from making loans and stockpiling the money meant for Joe Sixpack.
$1200 is nothing…I need 2 million
Name tag is epic just for that ONLY you should get a like 👍🏽
Hi people, turn the Like button to blue!
You talk too fast, but thanks for sharing.
THIS BILL IS HORRIBLE AND THE CLICK BAIT TITLE IS ALMOST AS BAD IM A LIBERAL AND I DONT BLAME TRUMP FOR CALLING IT DOA.
Has Graham done a new video on small business owners?
Yo my girl dumped me cuz a dude with like 20 kids gave her 20 thousand dollars stimulus money
Hey Graham, so you are ok with them helping illegal immigrants more than the rest of us? (And I’m an immigrant). Of course some things sound great. This is an 1,800 page bill full of a few good points but mostly disgusting agenda driven ones.