This is my stimulus update for Friday, January First, Twenty-Twenty-One.
I will talk about two thousand dollar stimulus checks later in this video, but first I want to address some issues with the six hundred dollar stimulus checks.
Brief six hundred dollar stimulus update, some people have asked if they received the first stimulus on the EIP card, the disastrously rolled out stimulus debit cards, will they receive their second stimulus payment on that same debit card. The answer is no.
That debit card you have will not be reloaded with the second stimulus payment. However, IRS is saying that new stimulus debit cards will be issued to some individuals chosen to receive their EIP 2, meaning their second stimulus payment, on an EIP Card.
IRS is not at this time disclosing whom those individuals are who are or have been chosen to receive their second stimulus payment on a new debit card, I imagine that this information will be found on the Get My Payment tool after the IRS updates it for the second stimulus payment.
But it’s not necessarily the case that if you receive a debit card for your first stimulus payment that you will receive one for second. Once Get My Payment tool is updated for second stimulus payments, hopefully the specifics of receiving your second stimulus payment will be more clear for those of you who were not one of the lucky ones who received it via direct deposit this week.
Also, IRS is at this point saying that you cannot change your bank information, so if you don’t get a second stimulus payment, just like if you didn’t get a first stimulus payment, you can claim it on your twenty-twenty tax return as the Recovery Rebate Credit.
Now let’s talk two thousand dollar stimulus checks. As I told you in my video yesterday, Mitch McConnell shot down a vote on the standalone two thousand dollar stimulus check House bill, no matter how hard Schumer and Sanders push for this thing, Mitch isn’t putting it on the Senate Floor, he’s just not going to, and here’s the honest truth.
If he’s not willing to do that with one of the most pivotal Senate elections in recent memory taking place next week, when would he be willing to do that? Mitch’s sole goal before the next Congress is to overturn President Trump’s veto of the Defense Authorization Act, which Trump vetoed because it doesn’t contain a repeal of Section 230.
Procedural votes will be taken today with the hope of a final vote being taken tomorrow. So, naturally, the last hope for two thousand dollar stimulus checks in this Congress, and this is a very slim hope, is that Dems say, with Bernie leading the charge, look, Mitch, we’re not going to vote on overturning the veto unless you put the House bill for two thousand dollar stimulus checks on the Senate floor.
On Wednesday Bernie blocked unanimous consent for Mitch’s veto overturn, forcing Mitch to go through the formalities that will be witnessed on the Senate Floor today and tomorrow. Not a lot of Dems were with Bernie on Wednesday to vote against the motion to proceed of the veto overturn, will more join the fight today, that’s the question.
Personally, my gut is that I think a lot of Dems feel that two thousand dollar stimulus checks in this Congress is a lost cause and that they would rather wait until a more favorable Congress and perhaps even under Biden, that’s my sentiment, feel free to disagree.