Date: March 25th, 2020 11:44 PM
Author: Lemon Submissive Twinkling Uncleanness
https://www.npr.org/2020/03/25/821514231/whats-in-it-for-you-1-200-checks-13-weeks-of-unemployment-payments-and-more
Some low-wage workers could get more than their usual earnings
The expansion of unemployment benefits could stand to put even more money in some families' pockets than the relief checks. New York Sen. Chuck Schumer has taken to calling it "unemployment insurance on steroids."
"I think of this thing as a deep response and a broad response," said Chuck Marr, senior director of federal tax policy at the left-leaning Center on Budget and Policy Priorities. While the "broad" part is the checks, he said, "unemployment is a sort of deep response. People are losing jobs; they're hurt; they need help."
The latest versions of the bill expand unemployment benefits across several dimensions. First, the bill would extend regular unemployment benefits to last an additional 13 weeks. In most states, laid-off workers can get a maximum of 26 weeks of benefits.
The bill would also add four months of $600 weekly payments on top of the usual weekly unemployment checks. That is a large bump compared with usual unemployment benefits. According to the Labor Department, the average weekly benefit as of the end of February was about $372.
It's also a large increase in benefits compared with those during the Great Recession, when the economic stimulus act added $25 to weekly unemployment checks.
Altogether, an additional $600, on top of those average benefits, would equal roughly 100% wage replacement for average workers — meaning some lower-income workers will get more than their usual wages from this expansion.
On top of that, the latest versions of the bill would expand who can get unemployment to people who wouldn't otherwise be eligible for benefits, such as the self-employed and those in isolation or quarantine because of the virus.
This expansion of unemployment benefits threatened to hold up the bill's passage Wednesday afternoon, as a group of Republican senators objected to the new unemployment provisions.
"We cannot encourage people to make more money in unemployment than we do in employment," South Carolina Sen. Tim Scott told reporters on Capitol Hill on Wednesday.
There's also some question as to how much economic pain these proposals wouldn't protect people from. After all, the scars from this economic blow could last far longer than the four months that the $600 unemployment bump will last.
The package also contains far more than just this assistance for households. There are also loans for small businesses and provisions to make much of that loan money forgivable. The bill also would allow federal student loan borrowers a grace period from making payments until October.
(http://www.autoadmit.com/thread.php?thread_id=4487150&forum_id=2#39864951)