Скачать или смотреть HEALS Act VS HEROES Act | Stimulus Check Update

Republican HEALS Act and the Democratic HEROES Act are out. Here are the main differences, so you know exactly what priority each party has and what to expect. Enjoy! Follow me on Instagram: @Pedro.Talarico

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0:00 - HEALS Act vs HEROES Act
0:30 - Stimulus Check Update
1:31 - Unemployment Benefits Extension
2:41 - State Unemployment Extension Programs
2:52 - Eviction Crisis
3:42 - Paycheck Protection Plan (PPP Loan)
4:32 - Liability Protection
5:10 - Funds for Schools
6:02 - Other Major Broader Issues

With the new HEALS ACT (Health, Economic Assistance, Liability Protection and Schools) unveiled by the Republican Party, we now have a pretty good idea about what their priorities are, so let's compared it to the Democratic HEROES ACT (Health and Economic Recovery Omnibus Emergency Solutions):

Both the parties agreed on another round of $1,200 STIMULUS CHECK for every American that is inside the following guidelines:
A single US resident with an adjusted gross income less than $75,000.
Head of a household earning under $112,500.
Couple filing jointly without children and earning less than $150,000.
$500 per dependent of any age.
The good news about dependents is that both parties removed the age restriction that was implemented on the CARES Act, that excluded any dependent between 17 and 24 years old. Now, all of them will receive $500.And just like the CARES Act, the 2nd stimulus check will drop by $5 for every $1,000 you make above that threshold, so anyone who makes more than $99,000 won’t get any.

Since both Acts are in agreement about the stimulus check, we can say that this portion is confirmed.

Now, let's talk about their main differences:

1. UNEMPLOYMENT EXTENSION
We all know that the weekly $600 boost is over and even tho both parties agree that an extension needs to happen, they strongly disagree on the amount. Republicans claim that $600 is way too much, with many Americans making more money staying at home, than when they were actually working. And in the other hand, Democrats claim that if those same Americans suddenly had $600 less, per week, that it would severely weaken our economy as well.

At this moment, Republicans want a flat $200 per week for 2 months and then, adjust it to 70% of loss wages. but that is them assuming that states can actually figure those numbers out with their super high-tech systems.

2. EVICTION CRISIS
It became very clear that a new eviction moratorium is priority for the Democrats, being a big part of the HEROES Act, but we saw no mention of it on the HEALS Act, so it’s very hard to know if it will actually happen. Evictions will play a big role in whatever is gonna happen to our real estate market, so definitely keep an eye on it.

3. Paycheck Protection Plan (PPP Loan)
According to the HEALS Act, any small business with under 300 employees that lost more than 50% of their revenue will be able to apply for a 2nd round of the PPP loan, for a total of $190B available for the program.
The HEROES Act also mention an extension of the PPP Loan, but with a way smaller restriction.
It’s pretty much certain that the PPP will be extended for small businesses. It remains to be seen if it will also be available for bigger sized companies.

4. LIABILITY PROTECTION
Republicans want Liability Protection for businesses/schools/doctors while Democrats want Liability Protection for workers.

5. FUNDS FOR SCHOOLS
Both bills offer funds for schools, but the main difference is that for the Republican Party, schools will only receive these extra funds if they open up. For the Democrats, they will receive the funds no matter what.

And of top of it all, there are other major broader issues, like the size of both packages, with the HEALS Act around $1T and the HEROES 3x more expensive, and that is mainly due to fact that the Democrats bill includes nearly $1T for general fiscal assistance for state and local government, while the Republican side included $0 for this purpose.

The main take aways from all this is that when it comes to the money that you gonna receive, the HEALS Act is pretty much a worse case scenario, and the HEROES is a best case scenario and likely, we’ll end up getting something in between.

I hope this video was helpful!

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Much love,
P