Trump wants you to get a bigger stimulus check — so what now?
Trump wants you to get a bigger stimulus check - what now?
Unhappy that your new "stimulus check" costs only $ 600 instead of $ 1,200 last time?
President Donald Trump too.
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"It really is a shame," said Trump in a video posted on Twitter Tuesday night.
"I'm asking Congress to change this bill and increase the ridiculously low $ 600 to $ 2,000 or $ 4,000 for a couple," he says.
Trump still hasn't signed the $ 900 billion COVID relief bill that includes the new direct payments - and that has included months and months of difficult negotiations. It passed both houses of Congress on Monday evening.
Treasury Secretary Steve Mnuchin said the money could be pouring into Americans' bank accounts as soon as next week. But what is happening now?
$ 2,000 Checks? Democrats say, "Let's do it!"
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The new aid package not only includes the new direct payments to help troubled US households and stimulate the weak economy, but also money for weak companies and weekly bonuses of $ 300.
Democrats, who control the US house, cheer the president. They wanted bigger stimulus checks but were foiled by the Senate Republicans.
Republicans repeatedly refused to say what amount the president wanted for direct controls. Finally, the president has approved $ 2,000 - Democrats stand ready to unanimously speak on that this week. Let's do it! "Wrote House Spokeswoman Nancy Pelosi on Twitter.
Americans were eager to get more money from the government, especially as the pandemic is spiraling out of control, leading to new lockdowns and layoffs.
A poll by the U.S. Department of Labor Statistics found that nearly 60% of Americans used their first stimulus checks - which were done in the spring - to cover basic expenses including groceries and utility bills.
Some also invested the money, according to the survey, or used it for various other purposes. That may have included buying affordable life insurance - life insurance sales have grown this year amid the shadow of the pandemic.
Trump has not said whether he intends to veto the new economic relief law, but it was passed with veto-proof majorities. That means he's essentially unable to stop the bill or increase the stimulus checks - which means Americans are still likely to get $ 600 in payments starting next week.
President-elect Joe Biden said Americans should view this money as a "down payment". and that his government will press for further relief after his inauguration on January 20.
What if you agree that $ 600 is a shame?
Iakov Filimonov / Shutterstock
If you're looking to make ends meet and need way more than $ 600 right now, here are some ideas on how to raise more money yourself.
Find easy ways to cut your spending. Delete any subscription services that you are not using. Cook more yourself and stop ordering so much to take away. Download a free browser add-on that will save you money every time you shop online by searching for better prices instantly.
Reduce the cost of your debt. If you were relying on your credit cards during the coronavirus crisis, you are likely meeting a lot of interest. Tame your credit card debt - and make it go away faster - by converting your balances into a single debt consolidation loan at lower interest rates.
Stop paying so much for insurance. With Americans driving less this year, many auto insurance companies have cut their rates. If your insurer isn't giving you a break, it's time to look for a better option. You can also save hundreds by comparing rates to get a better deal on your home insurance.
Swap your mortgage for a cheaper one. Mortgage rates are at record lows, and refinancing your existing loan could bring you huge savings. Mortgage technician and data provider Black Knight says 19.4 million U.S. homeowners could cut their monthly home payments by an average of $ 308 per month through a refi.
You should check here to buy the best price guaranteed products.
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