A second economic rescue package is on the horizon, one that will likely include another stimulus check, funding for small businesses and schools, additional jobless benefits and more. But as lawmakers debate the finer points, a critical provision of the first relief package is set to expire.
Federal Pandemic Unemployment Compensation, or FPUC, boosts all Americans’ unemployment payments by $600 per week, automatically. That provision of the $2.2 trillion CARES Act expires July 31 unless Congress acts immediately to extend it.
That deadline is according to the wording of the CARES Act, but the payments effectively end sooner. State unemployment agencies typically operate on a Sunday to Saturday schedule (or vice versa), meaning the last unemployment payment including the $600 bonus will be paid out either July 25 or July 26.
With the clock ticking, that means jobless Americans are likely to see a lapse in their unemployment payments —