$2.2 Trillion Stimulus Bill Signed into Law

[Rey C.]

Anyone here who is (or knows) a small business owner, owes it to himself to check this link out:

8 Ways Business Owners Can Take Advantage of the Federal Stimulus Package

1. Stimulus Checks
2. Economic Injury Disaster Loans (EIDL)
3. Paycheck Protection Program (PPP)
4. SBA Loan Forbearance
5. Increased Access to Retirement Accounts
6. Unemployment
7. Paid Sick Leave
8. Family Medical Leave (FMLA)

And while it's not something that I would suggest doing (unless your back is really up against the wall), this link about withdrawing or borrowing funds from your IRA, 401(k)s, pension plans, 457 plans and 403(b), without penalty, might also be of interest:

New Stimulus Bill Unlocks IRA and 401(k) Dollars for Financially Affected


*The penalty-free distribution option is available on qualifying distributions made from January 1, 2020 to December 31, 2020.

 

[Rey C.]

Looks like the House is now looking at Stimulus Phase 4 - could be another $500 billion or maybe another $1 trillion. Apparently this one will primarily be focused on small businesses and aid to states and localities.

 

[Rey C.]

Now it looks like Congress is finally (apparently they have trouble showing up for work) getting geared up for Phase 4 stimulus. Any thoughts on here about what could or should be included? Also, for the Americans on the board, did you get your stimulus check (if you were eligible) and was it for the correct amount? I don't mean PPP or EIDL, just the $1200/person and/or $500 per child.

Coronavirus stimulus phase 4 could exceed $1 trillion