IS ADDITIONAL STIMULUS NEEDED
June 9, 2020 - Douglas Myser
Is additional stimulus needed. After several rounds of Covid based stimulus relief bills, authorized by Congress, and passed by President Trump, much debate is surfacing about whether additional stimulus is needed. Most of this debate surrounds funding for State and Local Governments, which seem to be having a very difficult time and are on the verge of going bankrupt, and small businesses and individuals, who are in the same sinking boat. Senator Mitch McConnell of Kentucky wants to wait and see what impact the current legislation will have, while California Speaker of the House Nancy Pelosi wants to march full steam ahead, as the long line of the unemployed continues. Is additional stimulus needed.
There are alot of lawmakers on Capital Hill who don't think a one time $1200 stimulus check will be enough to pull the U.S. economy out of a recession. There's alot of talk about a second round of stimulus checks. Some of the talk centers around a bill that has already been introduced in Congress by Rep. Khanna and Rep. Tim Ryan (D-Oh). Their bill goes quite a bit further than the original stimulus check provisions in the CARES Act. If enacted, it would give every qualified American over the age of 16 a stimulus payment of up to $2000 each month for up to a year (plus $500 for up to three children). The proposal from Reps. Khanna and Rep. Ryan was not included in the HEROES Act, which House Democrats introduced on May 12th, 2020. Instead a more modest plan for another single payment found its way into the bill. However, the HEROES Act will not get through Congress--at least not in its present form. As a result, other second round stimulus payment plans remain possible. Many individuals with current bills and tax debts need this money otherwise they may face creditors or need Tax Resolution.
In addition, there's a proposal form Sens. Bernie Sanders, and Sens. Kamala Harris, to provide $2000 per month for up to four months, with additional funds for families with children. If you have a tax debt and need help, we can file any back tax returns and then determine your options in the IRS Code for any and all Tax Relief options you qualify for, including the IRS Fresh Start Program and all options not in that program. We are a 36 year old Tax Resolution Company that is a leader among Tax Resolution Companies. Our Tax Resolution Services are designed to be stress free for you, to avoid a IRS Wage Garnishment or Bank Levy. Call today for a free consultation. 1-888-689-7861