Lapse

More Help Is Coming, But $600 Unemployment Bonus Will Lapse First

dhita yudha 2 months ago

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 —

… Read More

Congress Not Rushing To Prevent Lapse Of Extra $600 Unemployment Benefit

dhita yudha 2 months ago

WASHINGTON ― With two weeks until additional unemployment benefits expire, Congress remains at a standstill on another coronavirus package ― and the odds of lawmakers reaching a deal before people start missing payments are seeming increasingly long.

Despite some new consensus that the additional $600 in federal unemployment benefits shouldn’t disappear entirely, Republicans and Democrats are still far apart on an actual deal. Republicans are looking at a number closer to $200, and Democrats are pushing for benefits closer to $500. 

The benefits end on July 31, but Senate Majority Leader Mitch McConnell (R-Ky.) said Monday that senators won’t start negotiating in earnest until next week, when lawmakers return to the Capitol from recess. McConnell’s top priority for the legislation is protecting schools and businesses from coronavirus-related lawsuits — an idea Democratic leaders strongly oppose. 

The timing all but guarantees that even if Congress agrees to preserve benefits, it won’t

… Read More