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Burst Details

Senate relief bill implications

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2 months ago

Automatic TRANSCRIPT

The typical business has twenty seven days of cash on hand if operation suddenly ceased. So that's why it's really important. That part of this is a three hundred fifty billion dollar loan program for small businesses. Now I don't want to sugarcoat this because if you're a small business and you take a loan and you've got no revenue coming in when you rebuild your business you're going to have the burden of rebuilding it and ultimately having to pay back these loans. So it's not like this is a panacea but it gives you the opportunity to fight for Your Business. Another day when commerce restarts another part of the legislation that was a huge fight about is hospitals. Making sure there's enough money going to hospitals so the hospitals will be able to deal with the extreme added patient load and the sudden expenses for the equipment that hospitals are going to have to have and so that is part of this deal likely somewhere around one hundred billion for hospitals in addition. There's money that's going to go to cities and states to deal with the sudden cash shortfalls. I read a story today about the massive decline in tax revenues in the State of Florida. The State of Florida is a state with no state. Income tax finds most of its operations with the sales taxes will sales tax revenues as you might have expected have fallen way off a cliff. So Florida doesn't have the money to operate moving forward without some kind of assistance and Florida's just a microcosm of what states are experiencing around the country so money will flow to the states and local governments as far as the exact amount of that will see in addition. There's a find for big business and the big business. Fine was a big area of controversy because initially there was going to be no oversight over how money was dealt out corporations with the fear that the money would flow heavily to politically favored corporations and others would be starved for funds. So there's a new procedure that has been designed with an independent watchdog to make sure that is. Money is handed out to large corporations. In what hopefully will end up being loans and not handouts that that money will go where it's most efficiently needed and not where it's most politically expedient to send that money now. Let me tell you how this is. GonNa work with this legislation. Day by day it will become clearer. How different elements will play out how you will get access to the fines. And how quickly? You'll have access to those funds and as that information becomes available each day that there's more new significant information to share with you. I will do that with you here on the show because this is obviously a really rushed activity and it will take a while to peel away the layers of the onion of this legislation. And Tell You if the cavalry is in fact on the way to help out and how quickly will be there for different phases of the economy and your life and Cam. I WANNA go to questions now if I could and what we're doing if you're not aware is if you go to Clark Dot com slash. Ask Post a question for me and we're getting a ton of questions posted and so we're doing this with Kaman. Joel asking your questions is producers rather than me speaking with you directly because we can address more topics within each show doing that that we can with traditional calls all right then well first up is Jimmy. He says I've procrastinated getting term life insurance and don't know if now is a good time given the circumstances I'm forty four. I'm in good health and my job is stable for now. That's a sobering thought. Isn't it Kim? And we've had a lot of questions about life insurance that will get to day by day so applying for life insurance normally is a process that takes about a month to go from applying to win. Policy is issued. There are issues that we have listed on. Clark Dot Com that do instant issue term life insurance. And what they do is they do Computerized checks on you and believe that they can know as much as they need to about you in the overwhelming percent of cases. If they're able to find the data they need to know enough about your medical history and prospects bay instant issue the life