With major federal unemployed assistance programs Expected to end by the end of the yearThe question is what their place may be in the form of high unemployment American economy suffers And millions of Americans struggle to meet.
In Washington, DC, two competing proposals have been introduced this week, although each proposal marks different levels of support for unemployed workers. The first one is $ 908 billion bipartisan congress plan It prioritizes assistance for those who are out of work, businesses and state and local governments. The second is a small Republican initiative focused on helping businesses maintain their legal exposure to coronovirus-related lawsuits.
The larger stimulus package appears to gain traction, with speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer saying the proposal should form the basis for further negotiations. The plan has also received support from several Republican senators. Pelosi said on Friday that he Would like to attach A government funding ubiquitous bill would require new coronovirus relief legislation to be passed within the next week to avoid a government shutdown.
Although the final references to an incentive measure on Capitol Hill are subject to debate, many experts see a clear need for additional economic relief. Job growth Slowed down sharply last month Grew as coronaviruses.
“We are still in a situation where only less than 19 million people are claiming benefits for the main unemployment programs,” said Andrew Stettner, an expert on unemployment benefits for The Century Foundation, a progressive think tank. “An excessive number of people have been out of work for a long time and thus at the end of their rope.”
Ideally, Stattner said, Congress would approve another six months worth of the main benefits provided by the Coronovirus Assistance, Relief and Economic Security, or CARES, Act. It can provide a financial bridge for workers until vaccination becomes widely available, at which point businesses such as restaurants and hotels can resume.
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. Beyond the typical 26 weeks that it provides to unemployed workers.
Neither incentive offer for both programs would provide an additional six-month benefit. But President-Elect Joe Biden and the new Congress, which will be sitting in January, may negotiate a more liberal stimulus package as early as 2021, experts say.
It is mentioned here that each incentive scheme will offer unemployed workers.
$ 908 billion bipartisan plan
Supported by senators including Joe Manchin, a Democrat from West Virginia and Mitt Romney, a Republican from Utah, the proposal would allocate $ 180 billion for unemployment assistance.
This would represent the second largest portion of spending under the plan’s framework, as well as financing $ 288 billion for small businesses. According to the Washington Post, the money will provide additional assistance of $ 300 a week, as well as continuing unemployed benefits in the state.
Steitner said that $ 180 billion is enough to add 13 weeks of benefits for both PE2 to W2 workers and PUA, and is not eligible for state benefits.
In other words, unemployed workers can increase their profits through March rather than ending at the end of December.
McConnell’s “targeted” plan
The second plan proposed this week comes from Republican Senator Mitch McConnell of Kentucky, who described it as “targeted” aid. His plan would extend the PUA and PEUC for one month until 31 January, and then phase out benefits for the subsequent two months.
However, the two-month phase-out after January 31 will be available only to those who have exhausted their benefits. In other words, if you lost your job in an epidemic and terminated your qualified unemployed assistance, you would not qualify for additional assistance after 31 January.
McConnell’s proposal also includes a liability shield for businesses to protect them from lawsuits if they are infected with the work-at-large coronovirus. This has fueled opposition from consumer and labor advocates.
“McConnell is nothing worse than a possible one-month extension and has a liability shield,” said Michelle Evermore, senior policy analyst at the National Employment Law Project. “It will force people to return to workplaces affected by COVID, there is no way to sue if they are injured and there is little incentive for workplaces to be safe.”