Rossen Reports: New details of Biden’s ‘American Rescue Plan’
Hey, guys. Yeah? The new Biden administration wasting no time here. President elect by denouncing what he calls the American rescue plan. Price tag. $1.9 trillion. So what’s in it? How much of that money could you really see? I know That’s what you’re wondering. Pete Dunn is here. Hosted the pizza planner show and CEO of your money line. And hey, money Pete, break it down for us. 1.9 trillion. Who gets what? Well, Americans. Everyday Americans. They’re gonna get quite a bit of money here If this goes 3 $1400 additional on direct stimulus payments, taking the recent total to $2000 which is what a lot of people wanted before there was 600 before they sent out, they’re gonna add another 1400. Everyone will get made whole of 2000. I think no matter what happens, going forward and I do think this plan will stall, I think that will happen. I think this provisioning will be a reality. Some other things in the bill Probably not like what? Well, there. There is an increase of federal minimum wage increase to $15 an hour And while Jeff I am a proponent of a increase of federal minimum wage, this is gonna be a deal killer for a lot of reasons. One think of restaurants and and groups that are are struggling to pay what market wage is. And in some cases, they’re gonna be doubling or tripling that wage when they just simply don’t have the business to justify it. I don’t think that $15 an hour wage is gonna happen. There is an increase, though, of unemployment benefits of $400 per week through the end of September. And here’s the most controversial part of the bill, in my opinion is there will be an extension of the eviction moratorium till September. And Jeff, I know what you’re thinking. You’re thinking how in the world is that controversial? It’s controversial because landlords aren’t made whole. They have to continue to carry the water for all Americans until September, and I don’t get caught up in fair and unfair. But that’s simply unfair for the landlord’s oh bills to, And if their tenants aren’t paying them, they could lose the entire building. The tenants were kicked out anyway. I don’t want anyone to get evicted anyone because of Kobe, 19 or financial reasons. But I also don’t want landlords, mom and pop landlords that this is their retirement to get into trouble because the government is not subsidizing that particular provision. The new proposal also includes 350 billion for local and state governments. Pete says that’s likely to fail, but he believes a chunk of money for co vid testing and vaccines will go through. You are going to see the 50 billion towards Cove in 19 testing likely go through and even $20 billion towards a national vaccine program. Jeff, what this is is marketing the vaccine to people so they’ll take the vaccine so they’ll get the vaccine. I think all of those things are likely to happen if they passed it. Let’s say next week are we talking February from where stimulus checks people at home? Right now I know you’re saying to yourselves, All right, get to the meat and potatoes here. When am I getting a payment in my account? If they were, if they were to pass something, if they pass it, I think they’ll be checking accounts within 10 days. But I also have to be honest with you. I don’t think they’re gonna pass it within the next couple of weeks. Because as of last week, there are now new priorities in the Senate in Congress in general. So I hope it passes, but they’re gonna have to strip some of this stuff out, especially the $15 an hour minimum wage. Even though I’m for it. It’s a deal killer. Pete, Thanks so much for being here. We’re going to keep you updated on the new relief bill and everything that has to do with your money right here and online at Rawson reports dot com Back to you.
There are new developments in the push for $2,000 stimulus checks with a new proposal from the incoming Biden administration on the table. But will it pass and what’s the timing? President-elect Joe Biden is wasting no time here, announcing what he calls “The American Rescue Plan” with a price tag of $1.9 trillion.So what’s in it and how much of that money could you really see? I know that’s what you’re wondering.Pete Dunn is here to help. He’s the host of the “Pete the Planner Show” and CEO of “Your Money Line” and “Hey, Money.”Take a look at what he told Chief National Consumer Correspondent Jeff Rossen in the video above
There are new developments in the push for $2,000 stimulus checks with a new proposal from the incoming Biden administration on the table. But will it pass and what’s the timing?
President-elect Joe Biden is wasting no time here, announcing what he calls “The American Rescue Plan” with a price tag of $1.9 trillion.
So what’s in it and how much of that money could you really see? I know that’s what you’re wondering.
Pete Dunn is here to help. He’s the host of the “Pete the Planner Show” and CEO of “Your Money Line” and “Hey, Money.”
Take a look at what he told Chief National Consumer Correspondent Jeff Rossen in the video above