COVID-19 relief package: $600 stimulus checks, $300 bonus for federal unemployment benefits in new deal
Written by B87FM on December 21, 2020
Job loss numbers skyrocketed in the course of the COVID-19 pandemic, however not everybody was counted as unemployed. Here is how the unemployment price is measured. USA TODAY
Lawmakers struck a virtually $900 billion COVID-19 stimulus deal Sunday that features one other spherical of stimulus checks and badly wanted jobless advantages for struggling Individuals, ending an extended standoff in Washington with one of many greatest rescue payments in U.S. historical past.
After months of deadlock, negotiations got here right down to the wire as 12 million persons are set to lose unemployment advantages the day after Christmas. The deal consists of restarting a $300 enhance to the federal unemployment insurance coverage profit, extending eviction moratoriums for renters for an unspecified period of time and a $600 direct fee to most Individuals.
Despite the fact that lawmakers reached a deal, some jobless Individuals could see their unemployment benefits lapse since it might take weeks for assist to achieve them because of outdated state techniques, specialists say.
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The measure shall be tied to a $1.four trillion must-pass spending invoice that can fund federal companies and packages by Sept. 30, the top of the fiscal yr.
Congress handed a one-day extension of presidency funding late Sunday to present lawmakers yet another day to assessment the deal to avert a partial authorities shutdown deadline.
For the invoice to change into legislation, each the Home and Senate should go the laws, and President Donald Trump might want to signal it. Each chambers are anticipated to debate and vote on the package deal Monday.
Here is what’s within the stimulus package deal:
Will I get one other stimulus verify?
The measure accommodates an as much as $600 direct fee to most Individuals, and $600 per youngster, Home Speaker Nancy Pelosi, D-Calif., and Senate Minority Chief Chuck Schumer, D-N.Y., mentioned in a press release. That’s lower than the $1,200 checks permitted within the spring.
The scale of the profit could be decreased for these incomes greater than $75,000 in 2019, much like the final spherical of stimulus checks, based on The Washington Post.
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Are unemployment advantages prolonged?
The invoice would prolong all pandemic unemployment packages set to run out on the finish of December. It’s unclear for a way lengthy.
These advantages would seemingly be prolonged for 11 weeks of unemployment, based on The Washington Submit. They don’t seem to be retroactive.
The deal got here right down to the wire as two unemployment packages are set to finish on Dec. 26: the Pandemic Unemployment Help program, which supplies assist to self-employed, short-term employees and gig employees; and the Pandemic Emergency Unemployment Compensation program, which supplies a further 13 weeks of advantages past the standard 26 weeks that states present to jobless employees.
Are there enhanced unemployment advantages?
The measure would supply a federal unemployment advantage of $300 every week for roughly 10 weeks, lower than the $600 supplied underneath the Coronavirus Help, Reduction and Financial Safety Act handed in March.
The invoice additionally would give a further federal advantage of $100 weekly to those that earned no less than $5,000 a yr in self-employment earnings, however are disqualified from receiving a extra beneficiant Pandemic Unemployment Help profit as a result of they’re eligible for state jobless assist, based on The New York Times.
Is paid sick go away included?
The settlement supplies a tax credit score to help employers providing paid sick go away, based mostly on the framework of the Households First Coronavirus Response Act, enacted in March, based on Pelosi and Schumer’s assertion.
Households First required many employers to offer employees with two weeks of sick go away associated to COVID-19 at full pay, and as much as 12 weeks of household and medical go away to look after members of the family at two-thirds pay.
As many as 87 million employees may lose entry to emergency paid go away on the finish of the month. If these advantages aren’t prolonged, it will restrict employees’ capability to remain dwelling to quarantine after COVID-19 publicity, or care for a kid whose faculty or daycare is closed.
It’s unclear whether or not the brand new measure would nonetheless require firms to supply paid sick go away to employees who’ve COVID-19, or these caring for youngsters following faculty closures.
Are eviction moratoriums prolonged?
Sure. It might supply $25 billion in emergency rental help and supply an extension of eviction moratoriums. It’s unclear for a way lengthy based mostly on Pelosi and Schumer’s assertion.
The newest laws prolonged the moratorium by Jan. 31, The New York Occasions mentioned.
The loss in jobless assist and different stimulus reduction would have put 30 to 40 million individuals vulnerable to eviction as moratoriums had been set to run out in January, based on the Aspen Institute, a assume tank.
What else is within the package deal?
The package deal consists of an extension of the small enterprise Paycheck Safety Program, which expanded eligibility to native newspapers, broadcasters and nonprofits. It’ll direct one other $20 billion to small enterprise grants and $15 billion to stay occasion venues.
The measure elevated funding for vaccine distribution and coronavirus testing.
It additionally supplied $13 billion in elevated advantages for the Supplemental Vitamin Help Program, or SNAP.
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