Pelosi Willing to Give?

Anybody’s Guess, Folks

This is another edition of waiting for the Senate to get back to DC so that we can have some real stimulus news to talk about.

But until that point, I will continue to keep you informed, about all the little whispers, all the speculation, all the vague statements made by your favorite Washington DC personalities, such as Nancy Pelosi, Chuck Schumer, and Mitch McConnell with respect to the next stimulus relief bill, because folks, the honest answer right now is no one has any idea what’s going to be in that thing.

There’s so many ideas on the table at this point with respect to what’s going to be in the next stimulus relief bill.

Obviously, the stimulus checks, obviously, an extension of unemployment benefits, but we also got state and local assistance, liability protection for small businesses, money for schools, maybe an enhanced PPP, return to work bonuses, money for testing and tracing, hazard pay, rent and mortgage assistance. The list goes on.

Obviously, the most pertinent items in that list to the majority of you are stimulus checks, and for some of you, the extension of the unemployment.

Pelosi Willing to Give?

Now, that extension of the unemployment, that is set to expire the last week of July.

That’s scary, many people are depending on that money to pay for their necessary bills. Up until this point, we haven’t really heard any budge on the Democrat side, other than what they propose in the HEROES Act, which is to extend the whole $600 until next year.

However, yesterday Nancy Pelosi was at a press conference and it seemed that she was implying that she was more willing to give a little bit with respect to this aspect of the next stimulus relief bill, in talking about the supercharged unemployment benefits which we know in the HEROES Act, which passed her house.

She would want to extend at the full $600 all the way into next year. She said, “We’ll see how it goes with the conversation about those unemployment benefits. Some of it depends on what they (the Republicans) are willing to do on the direct payments as well.”

So she’s acknowledging, look, we’re probably not going to get everything we asked for in the HEROES Act with respect to both stimulus checks and unemployment.

So it seems like there’s this balancing act going on here in Pelosi’s mind. Okay. If they give a little more with stimulus checks, we acknowledge that we’re probably going to give a little bit on unemployment.

If they give it on unemployment, we acknowledge we have to give a little with stimulus checks.

So there seems to kind of be this dance here in Pelosi’s mind, and that’s how she feels the negotiations are going to go with respect to those two priorities that I know many of you have with the next stimulus relief bill.

White House on Unemployment

Yesterday, a spokesman for the White House said that the White House would not rule out agreeing to a more limited expansion of the supercharged unemployment benefits.

We know that many Republicans are on board with this in Congress right now. No, they don’t want the full $600 weekly extended, but they will be open to something maybe $200 a week, $400 a week.

They haven’t even come out with a set number either. In fact, the Republicans haven’t even said very much since the HEROES Act was passed, except that they don’t like it.

But next week, July 20th is when Senate is back in session. And next week is when McConnell has said that Republicans will start coming up with their own relief bill.

Healthy Workplaces Tax Credit

Speaking of Republican ideas today, House of Representatives member Tom Rice, Republican Congressman from South Carolina is going to propose the Healthy Workplaces Tax Credit, which would be a refundable tax credit against payroll taxes for 50% of a business’s cost for COVID-19 testing, personal protection equipment, disinfecting, extra cleaning and reconfiguring workspaces to adhere to social distancing guidelines.

The credit would be limited to $1,000 per employee for business’s first 500 employees, 750 per employee for the next 500 employees and $500 for each employee after that.

For example, if a restaurant with 40 employees spend $60,000 on PPE testing, disinfecting and plexiglass shields, it would receive a $30,000 tax credit against its payroll.

Democratic Proposal to Help Minorities

Republicans aren’t the only one with new ideas for what the country needs right now. Today Democrats released a summary of a proposal that would provide an immediate infusion of $135 billion to minority communities to provide free childcare, healthcare and more job opportunities, as well as an additional $215 billion over five years for infrastructure in those communities, expansion of Medicaid and homeowner down payment tax credit and other needs.

So combine those two figures there in this due Democratic proposal, you get $350 billion. That’s a lot compared to what McConnell and company is gunning for in the next stimulus relief bill over $1 trillion.

At least that’s what they put out there as their starting point. Democrat’s starting point is a $3 trillion HEROES Act.

Republican starting point soon be the $1 trillion figure that we’ve heard of floating around. I hope for the sake of the people that they will meet in between.

Congress Angry With IRS About First Stimulus

Today, over 100 members of the house representatives, both Democrats and Republicans wrote a letter to the IRS saying that the IRS has left people high and dry with respect to the first stimulus payment.

We know many people have not received their first stimulus or received a lesser amount than they were entitled to. And at this point the IRS’s position is, “Sorry, the only way you can fix it at this point is to get the credit for it on your 2020 tax return.”

We know that the IRS has said that they’re looking into ways to make sure that people who didn’t get the $500 for their dependent children are made whole without having to wait until filing in 2020 tax return.

But that doesn’t cover all circumstances. There are still people who did not receive their full stimulus check that don’t fall into that specific boat.

Today, over 100 members of Congress, Democrat and Republican wrote a letter to the IRS stating, “While the IRS claims that all issues may ultimately be resolved with 2020 tax filings in the next calendar year, for many of our constituents, that weight is simply untenable.”

We’ll see how the IRS responds to this. I hope that as they start to fill their offices again, they will figure out an efficient way to get stimulus payments to those who did not receive the full amount they’re entitled to during the first round.

Economic Data

To close out, let’s talk about some economic data. Data was released today, indicating that retail sales in June rose 7.5%, according to the commerce department, exceeding expectations of a roughly 5% increase month-over-month from May to June. And it being Thursday, you know what that means?

Today’s the day the jobless claims come out.

1.3 million Americans filed for unemployment during the second week of July, that’s roughly the same amount as filed the previous week.

There was only a 10,000 individual difference between the first week of July and the second week of July.

So that seems to be kind of holding steady. I’d be curious to see what is in the July jobs report, of course, but we know that Congress is going to start talking about the next relief bill before that.

The Clock Is Ticking

The clock is ticking.

Not only does those supercharged unemployment benefits end at the end of this month, the last week of July, but the house begins it’s recess on the first of August.

Of course, as I told you earlier this week, Pelosi said that she would be very open to canceling the houses recesses to make sure something is done with respect to the next stimulus relief bill, and the Senate, their August recess begins on August 8th.

We haven’t heard McConnell say as much, that he would be willing to cancel that recess or postpone it, but that is the calendar as it exists right now.

So there in a real time crunch, and there’s a lot of things they need to talk about and negotiate. And I hope they get something done and that partisan politics doesn’t get in the way.


  1. Throughout this grand scheme of things you get a B+ for hard work. Exactly where you actually misplaced me personally was in the facts. You know, it is said, details make or break the argument.. And that could not be more true right here. Having said that, permit me say to you what did give good results. The article (parts of it) is certainly incredibly convincing which is probably the reason why I am making an effort to comment. I do not really make it a regular habit of doing that. 2nd, despite the fact that I can easily notice the jumps in reason you come up with, I am definitely not sure of exactly how you seem to connect your ideas which inturn make your conclusion. For the moment I will, no doubt yield to your position however trust in the foreseeable future you connect your dots better.

  2. Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!

  3. I know this if off topic but I’m looking into starting my own blog and was wondering what all is required to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very internet smart so I’m not 100 sure. Any suggestions or advice would be greatly appreciated. Cheers

  4. A person essentially help to make seriously posts I would state. This is the very first time I frequented your web page and thus far? I amazed with the research you made to make this particular publish extraordinary. Fantastic job!

  5. I know this if off topic but I’m looking into starting my own blog and was wondering what all is required to get set up? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web savvy so I’m not 100 positive. Any recommendations or advice would be greatly appreciated. Cheers

  6. A person necessarily assist to make critically articles I’d state. That is the very first time I frequented your website page and so far? I surprised with the analysis you made to make this actual post amazing. Excellent process!

  7. Whats up very nice blog!! Guy .. Excellent .. Wonderful .. I’ll bookmark your website and take the feeds additionally…I am satisfied to find a lot of useful information here in the put up, we want develop extra strategies on this regard, thank you for sharing.

  8. Hey there! Do you know if they make any plugins to help with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains. If you know of any please share. Kudos!

  9. Good – I should definitely pronounce, impressed with your web site. I had no trouble navigating through all tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, web site theme . a tones way for your client to communicate. Excellent task.

  10. Merely wanna input on few general things, The website design and style is perfect, the written content is very superb. “Earn but don’t burn.” by B. J. Gupta.

  11. Whats up very nice web site!! Man .. Beautiful .. Wonderful .. I will bookmark your site and take the feeds additionallyKI am glad to seek out a lot of helpful information right here within the put up, we’d like work out extra strategies in this regard, thanks for sharing. . . . . .

  12. I’m really loving the theme/design of your weblog. Do you ever run into any web browser compatibility issues? A few of my blog audience have complained about my site not working correctly in Explorer but looks great in Firefox. Do you have any solutions to help fix this issue?

  13. What i do not realize is in fact how you’re no longer actually much more well-liked than you may be right now. You’re so intelligent. You recognize therefore significantly when it comes to this matter, made me in my opinion believe it from numerous varied angles. Its like women and men aren’t interested until it¦s one thing to do with Lady gaga! Your individual stuffs excellent. At all times handle it up!

  14. Greetings from Idaho! I’m bored at work so I decided to check out your blog on my iphone during lunch break. I really like the info you provide here and can’t wait to take a look when I get home. I’m amazed at how quick your blog loaded on my mobile .. I’m not even using WIFI, just 3G .. Anyways, fantastic blog!

  15. Have you ever considered about adding a little bit more than just your articles? I mean, what you say is valuable and everything. Nevertheless think about if you added some great photos or video clips to give your posts more, “pop”! Your content is excellent but with images and clips, this website could undeniably be one of the best in its field. Superb blog!

  16. I’m impressed, I have to say. Really hardly ever do I encounter a weblog that’s each educative and entertaining, and let me inform you, you may have hit the nail on the head. Your thought is excellent; the problem is something that not sufficient people are speaking intelligently about. I am very pleased that I stumbled across this in my search for one thing regarding this.

  17. Great V I should definitely pronounce, impressed with your website. I had no trouble navigating through all the tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your customer to communicate. Nice task..

  18. Hey would you mind sharing which blog platform you’re working with? I’m planning to start my own blog in the near future but I’m having a tough time selecting between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your layout seems different then most blogs and I’m looking for something unique. P.S Sorry for getting off-topic but I had to ask!

Leave a reply

Please enter your comment!
Please enter your name here