Republican plan to cut enhanced unemployment benefits by $400 would cost 3.4 million jobs: analysis

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Republicans are set to unveil a plan to drastically slash enhanced federal unemployment benefits even as economists warn the move could cost the country millions of jobs and shrink the economy.

Senate Republicans have claimed that American workers who bring in a higher weekly rate than before the pandemic are disincentivized from going back to the office.

“It certainly does not have the backing that it had before because of many small businesses that have come forward and said that people just don’t want to come back — that they were making more than they did when they worked,” Sen. Pat Roberts, R-Kan., a senior member of the Finance Committee, told NBC News earlier this month. 

However, there is no evidence that the increased payments have resulted in Americans refusing to return to work. Though House Democrats approved a full extension on the benefit in May, Senate Republicans plan to

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Fintech Personal Capital Sells To Canadian Insurer For $825 Million Plus Contingency Bonus

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Personal Capital, the San Francisco fintech that lets people invest in automated portfolios of stocks and bonds, is being bought by Empower Retirement for $825 million upfront, plus $175 million if growth goals are reached over two years. Personal Capital was last valued at $950 million in a February 2019 fundraise, according to PitchBook.

Former Intuit
INTU
CEO Bill Harris founded Personal Capital in 2009. Jay Shah joined the same year and became CEO in 2017.

Denver-based Empower is the second-largest administrator of retirement investment plans in the U.S. after Fidelity. It has $656 billion in assets and is a subsidiary of Canadian insurance giant Great-West Lifeco. 

Forbes identified Personal Capital as a likely acquisition target in May as the coronavirus was wreaking havoc on financial markets. Brian Ascher, a partner

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