Nail in the Coffin ($600 and $2000 Stimulus Check Update)

This is my stimulus update for Saturday, January Second. 

Just a brief first stimulus question, KingBoomy6 tweeted me this morning and asked, “Hey Logan Allec if I got the first stimulus, does that mean I’ll be getting the second one?” 

This is a great question, and the answer is it depends on your income.  The stimulus amounts were changed, but the income phaseout rules remained the same, so those at higher levels of income who were eligible for the first stimulus would not be eligible for the second. 

But those with incomes at or below seventy-five thousand a year for singles, one hundred and twelve thousand, five hundred a year for head of household, and one hundred and fifty thousand dollars a year for married filing jointly, if you got a first stimulus, you’ll get a second stimulus.  If your income is above those amounts for your filing status, whether or not you receive a second stimulus and its size depends on your income and family size.

I put together this little spreadsheet here, link in the description below, you can’t edit the version linked to below or else obviously people could screw it up, but what you can do is make a copy of it to your own Google Drive and then you can edit it. 

Then King Boomy said he’s concerned because he hasn’t gotten it yet, my response was, look, Treasury knows what to do in this situation, they have your information, they’re just slacking here, note that as we went over last week on the channel, Treasury did say that some individuals were “chosen” to receive new stimulus debit cards different from the first stimulus debit cards, they didn’t say how people were chosen, but the debit cards are really intended for those not on direct deposit. 

So if you’re not on direct deposit, you’ll either receive a check in the mail or a new stimulus debit card.  But if you are on direct deposit and received your first stimulus payment without any issues, don’t worry, Treasury is just slacking, they’re behind, remember last time, the fiasco that was?  Now let’s move on to two thousand dollar stimulus, and we’re gonna make this quick because there’s no reason to draw this out. 

So I created that video yesterday, titled, “Don’t get your hopes up over the last-ditch two-thousand-dollar stimulus check effort in the current Congress,” and I hope none of you got your hopes up for the last-ditch effort, which was of course for people like Bernie Sanders to block the defense bill veto that was passed in the House and that Mitch McConnell obviously wanted to pass in the current Congress. 

And the thinking was, well, maybe Bernie and other Democratic Senators and Josh Hawley and maybe even Lindsey Graham would stand up to Mitch and refuse to vote on the defense bill veto unless Mitch put the standalone two thousand dollar stimulus check bill that passed the House on the Senate floor. 

But of course that didn’t happen.  Despite even Lindsey Graham disagreeing with Mitch McConnell, Lindsey Graham tweeted yesterday in response to Mitch McConnell calling the Dems’ standalone two thousand dollar stimulus check bill “socialism for the rich”, Lindsey Graham tweeted, “With all due respect to my Republican colleagues, a two thousand dollar direct payment for individuals and families who are struggling is not socialism.  In my view it is necessary in the times in which we live.” 

And that’s fair, for families who are struggling, why McConnell called it socialism for the rich is because you could have a family of four making up to three hundred and ten thousand dollars a year and still get a stimulus check, albeit reduced, under the Democrats’ bill.  But my point is, despite all this, the Senate overturned Trump’s veto yesterday of the defense bill, it was earlier than I expected actually, but it wasn’t even much of a fight, the vote was eighty-one to thirteen, and that is the nail in the coffin for two-thousand-dollar stimulus checks in this 116th Congress that will come to a close tomorrow. 

Trump didn’t like this of course, he tweeted, “Our Republican Senate just missed the opportunity to get rid of Section Two-Thirty, which gives unlimited power to Big Tech companies. Pathetic!  Now they want to give people ravaged by the China Virus six hundred dollars, rather than the two thousand dollars which they so desperately need. Not fair, or smart!”  Some people have asked me if I think a standalone two-thousand-dollar stimulus check bill will be brought up in the new Congress? 

Dems are still going to push for it, don’t get me wrong, but my response to that is, yeah, we might see that standalone bill for two-thousand-dollar stimulus checks if Mitch McConnell isn’t in charge and instead if Chuck Schumer is in charge, meaning that Dems win both Georgia Senate runoff races on Tuesday. 

Mitch McConnell has simply shown himself unwilling to put standalone two-thousand-dollar stimulus checks on the Senate floor without combining it with the poison pills, or what Democrats perceive to be poison pills of Section 230 repeal and 2020 election voter fraud investigation, and apparently other than a handful of Senators including Bernie Sanders, no one really wants to bother to get in Mitch’s way.


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