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Rossen Responds: What's the deal with Congress' next stimulus bill?

Rossen Responds: What's the deal with Congress' next stimulus bill?
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Hi. The deadline has come and gone. And yet the Republicans and Democrats in D. C. And how d c works. They still haven't come together to pass the new stimulus package here to break it all down for us where we stand right now, what this means for you. Pete Dunn is here. The host of the people planner show and CEO of your money line. And hey, money. Thanks for being here, Pete. Good to be back. What happens now? Well, here's the thing that President Trump has an amazing opportunity to come in and have an executive order that puts things exactly like he wanted them all along. So, in my opinion, this is a big loss from cut for Congress because they've passed a lot of their power onto the president who had no problem taking it. So we're going to see an enhanced unemployment benefit extension if that executive order goes through. If it's not held up by the courts, you're going to see a payroll tax holiday which takes working Americans and puts more money in their pocket and a few other factors including, and this is something Congress wasn't too hot on an extension of student loan, not forgiveness, but a delaying in the ah need to make payments or people who hold student loans. A lot of this disagreement seems to be about unemployment, but on stimulus checks there they're a bit in lockstep, right? I mean, we're going to get a $1200 check. Is that the deal? Very little doubt around that. There people will get a check is just the only difference right now is Republicans want $500 per dependence to go out, and Democrats want $1200 per dependent. But here's the good news. There's no restrictions on dependence in terms of age. So if you have a college kid, you would actually get a check this time around. Where if he had a college kid last time, they didn't count as a dependent because they're older than 17 years old. And you also have adult dependants, people who have special needs there. I heard from a lot of people who said, Look, I have a 70 year old dependent. I have a 50 year old dependent. Yeah, and I think what was especially troubling about that is if that is the reality, If you had someone with special needs or an adult dependent of any sort. There's economic need within that. So it was almost punitive that that group wasn't included last time, assuming at some point they do get a deal together. How long will it take? You think? To get the checks out? Last time it took what seemed like forever. But they sort of have a mechanism now, right? What's the timing of this? Well, I hope you're in the mood for some good news. That's what I have for you was 19 days last time, which you and I both know felt like forever. This time around, it should take about a week before that money that $3400 in the case of a family of four hits People's Bank accounts. So that will be welcome. News by everybody. P Thank you so much for being here today. My pleasure. I am following the latest updates on this stimulus bill that the negotiations, whether there'll be an executive order, bring you the latest developments as they happen for more on what's going on with your money. Sign up for my Rossen Reports newsletter as well. It's free. Go straight to your inbox. Sign up right now at Rawson reports dot com
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Rossen Responds: What's the deal with Congress' next stimulus bill?
Democrats and Republicans still haven't come together to pass the new stimulus package.But we can expect some things are very likely to occur, especially in regards to how they affect people's wallets.Pete Dunn, host of the "Pete the Planner Show" and CEO of "Your Money Line" and "Hey, Money," helps tell us what it all means."President Trump has an amazing opportunity to come in and have an executive order that puts things exactly how he wanted them all along," Dunn said. "In my opinion, this is a big loss for Congress because they passed a lot of their power onto the president who had no problem taking it."So we’re going to see an enhanced unemployment benefit extension if that executive order goes through, if it’s not held up by the courts, you’re going to see a payroll tax holiday which takes working Americans and puts more money in their pocket, and a few other factors including … and this is something Congress wasn’t too hot on … an extension of student loan, not forgiveness, but a delay in the need to make payments for people who hold student loans."A lot of the disagreement on Capitol Hill seems to be about unemployment but with stimulus checks; they’re a bit in lockstep, right? We’re going to see $1,200 checks, right? Is that the deal?"Very little doubt around that. People will get a check. The only difference right now is that Republicans want $500 per dependents to go out and Democrats want $1,200 per dependent," Dunn said. "Here’s the good news, there’s no restrictions on dependents in terms of age. So, if you have a college kid, you’d actually get a check this time around. If you had a college kid last time, they didn’t count as a dependent because they’re older than 17 years old."And you also have adult dependents, people who have special needs. Many people have said, "Look I have a 70-year-old dependent" or "I have a 50-year-old dependent.""Yeah, and I think what was especially troubling about that is if that is the reality … if you have someone with special needs or an adult dependent of any sort, there’s economic need within that," Dunn said. "So it was almost punitive that that group wasn’t included last time."Assuming at some point they do get a deal together, how long do you think it will take to get the checks out? Last time it took, what seemed like forever, but they sort of have a mechanism now, right? What’s the timing of this?"Well I hope you’re in the mood for some good news, because that’s what I have for you," Dunn said. "It was 19 days last time, which you and I both know felt like forever. This time around it should take about a week before that money, that $3,400 in the case of a family of four, hits peoples' bank accounts so that will be welcome news by everybody."

Democrats and Republicans still haven't come together to pass the new stimulus package.

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But we can expect some things are very likely to occur, especially in regards to how they affect people's wallets.

Pete Dunn, host of the "Pete the Planner Show" and CEO of "Your Money Line" and "Hey, Money," helps tell us what it all means.

"President Trump has an amazing opportunity to come in and have an executive order that puts things exactly how he wanted them all along," Dunn said. "In my opinion, this is a big loss for Congress because they passed a lot of their power onto the president who had no problem taking it.

"So we’re going to see an enhanced unemployment benefit extension if that executive order goes through, if it’s not held up by the courts, you’re going to see a payroll tax holiday which takes working Americans and puts more money in their pocket, and a few other factors including … and this is something Congress wasn’t too hot on … an extension of student loan, not forgiveness, but a delay in the need to make payments for people who hold student loans."

A lot of the disagreement on Capitol Hill seems to be about unemployment but with stimulus checks; they’re a bit in lockstep, right? We’re going to see $1,200 checks, right? Is that the deal?

"Very little doubt around that. People will get a check. The only difference right now is that Republicans want $500 per dependents to go out and Democrats want $1,200 per dependent," Dunn said. "Here’s the good news, there’s no restrictions on dependents in terms of age. So, if you have a college kid, you’d actually get a check this time around. If you had a college kid last time, they didn’t count as a dependent because they’re older than 17 years old."

And you also have adult dependents, people who have special needs. Many people have said, "Look I have a 70-year-old dependent" or "I have a 50-year-old dependent."

"Yeah, and I think what was especially troubling about that is if that is the reality … if you have someone with special needs or an adult dependent of any sort, there’s economic need within that," Dunn said. "So it was almost punitive that that group wasn’t included last time."

Assuming at some point they do get a deal together, how long do you think it will take to get the checks out? Last time it took, what seemed like forever, but they sort of have a mechanism now, right? What’s the timing of this?

"Well I hope you’re in the mood for some good news, because that’s what I have for you," Dunn said. "It was 19 days last time, which you and I both know felt like forever. This time around it should take about a week before that money, that $3,400 in the case of a family of four, hits peoples' bank accounts so that will be welcome news by everybody."