A new stimulus deal has emerged – here’s what it could mean for the benefit of the unemployed

A new stimulus deal has emerged - here's what it could mean for the benefit of the unemployed

With major federal employment assistance programs It is due to end by the end of the year, The question is what could be their place as high unemployment continues U.S. No to the economy And millions of Americans are struggling to make ends meet.

Washington Washington, D.C. In, two competing proposals have been introduced this week, although each job offers a different level of support for workers. The first a 8 908 billion bilateral congressional plan Which prioritizes assistance for people who are not outside the work, businesses and state and local government. Another is a small Republican initiative focused on helping businesses stay afloat while limiting their legal contact. Corona virusRelated lawsuits.

Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said the proposal should form the basis for any further negotiations, saying the big stimulus package is getting strained. The plan has also received the support of many Republican senators. Pelosi said on Friday To attach New coronavirus relief law for government-funded omnibus bill, which should be passed next week to avoid government closure.

Although the final outline of the stimulus measures on Capitol Hill is under discussion, many experts see a clear need for additional economic relief. Job growth Sharp decline in the last month As the coronavirus grew

“We’re still in a situation where just under 19 million people are claiming benefits for major unemployment programs,” said Rewandrew Statner, an unemployment benefits expert at The Century Foundation’s progressive think tank. “A huge number of people have been out of work for a long time and thus they are at the end of the rope.”

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Ideally, Statner said, Congress would allow for another six months the core benefits provided by the Coronavirus Assistance, Relief and Economic Security or Care, Act. Until vaccinations become widely available it can provide a financial bridge for workers, at which point businesses such as restaurants and hotels could start rehiring.

Unemployment programs due to close on December 26 are the Epidemic Unemployment Assistance (PUA) program, which provides assistance to self-employed and gig workers, and the Epidemic Emergency Unemployment Compensation (PEUC) program, which provides an additional 13 weeks of benefits. States provide unemployed workers beyond the typical 26 weeks.

The stimulus proposal for both programs will not provide an additional six months of benefits. But with President-elect Biden and the new Congress sitting in January, he could negotiate a more liberal stimulus package in early 2021, experts say.

Here is what every incentive scheme offers to employers.

8 908 billion bilateral plan

The proposal, backed by senators, including West Virginia Democrat Man Manchin and Republican Mitt Romney of Utah, will provide 180 180 billion in unemployment benefits.

It will represent the second largest share of expenditure under the scheme framework with funding for small businesses at Rs 288 billion. This money includes an additional વધારા 300 a week in non-employment assistance, as well as state employment benefits, According to On the Washington Post.

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“180 180 billion” is enough to add 13 weeks of benefits to PEUCs, W2 workers and those who are not eligible for PUA and state benefits, ”Statner said.

In other words, unemployed workers will be able to see their benefits in March instead of ending in late December.

McConnell’s “targeted” plan

Another plan proposed this week is by Kentucky Republican Senator Mitch McConnell, who described it as “targeted” assistance. His plan extends PUA and PEUC for one month, until January 31, and benefits for the next two months.

However, the two-month phase after January 31 will only be available to those who have exhausted their benefits. In other words, if you lost your job as early as the epidemic and were fed up with your qualified unemployment assistance, you would not be eligible for additional assistance after January 31st.

McConnell’s proposal also includes an obligation to protect professionals against legal claims if workers become infected with the coronavirus while at work. It has accelerated Protest From consumer and activist advocates.

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“McConnell is probably worse than anything because it’s only a one-month hike and its liability is shallow,” said Michelle Evermore, senior policy analyst at the National Employment Law Project. “This will push people back to injured workplaces, there is no way to sue if they are injured and there is very little incentive for workplaces to stay safe.”

8 908 billion stimulus plan gained momentum



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