Our economy is in a deep, deep, deep hole, Sen. Chuck Schumer (D-NY) said on the Senate floor Sunday night. A lot more needs to be done.
Congress is expected to vote on the bill on Monday. Lawmakers are also still debating a second stimulus bill that includes liability protections for businesses and funding for states and local governments.
Here are some of the biggest provisions included in the new relief bill:
Unemployment insurance
One of the largest provisions in the bill is funds for enhanced unemployment insurance (UI). Those accessing jobless benefits through the Pandemic Unemployment Assistance (PUA) program and the long-term unemployed accessing Pandemic Emergency Unemployment Compensation benefits now qualify for 11 additional weeks of payments through March 14, 2021, for a total of 50 weeks.
US jobless claims rise to 885,000 amid resurgence of virus - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
Our economy is in a deep, deep, deep hole, Sen. Chuck Schumer (D-NY) said on the Senate floor Sunday night. A lot more needs to be done.
Congress is expected to vote on the bill on Monday. Lawmakers are also still debating a second stimulus bill that includes liability protections for businesses and funding for states and local governments.
Here are some of the biggest provisions included in the new relief bill:
Unemployment insurance
One of the largest provisions in the bill is funds for enhanced unemployment insurance (UI). Those accessing jobless benefits through the Pandemic Unemployment Assistance (PUA) program and the long-term unemployed accessing Pandemic Emergency Unemployment Compensation benefits now qualify for 11 additional weeks of payments through March 14, 2021, for a total of 50 weeks.
Second stimulus update: Here’s what unemployed people will get
Updated Dec 21, 2020;
Congressional negotiators on Sunday finally came to an agreement on a new stimulus bill.
The deal will expand unemployment benefits for millions of Americans and save others from losing benefits that were scheduled to expire at the end of the year.
“For the 20 million people who would lose unemployment benefits the day after Christmas: help is on the way,” said Senate Minority Leader Chuck Schumer and House Speaker Nancy Pelosi in a joint statement.
First, unemployed people will receive an additional $300 per week on top of their regular benefits for up to 11 weeks. The benefit could start as early as Dec. 27 and run through March 14, according to lawmakers’ descriptions of the provisions.
Surviving the Holiday Season Unemployed
It’s too easy to fall apart this holiday season. With the latest stay-at-home order, rising long-term unemployment and the looming end of the eviction moratorium in 2021, what exactly is there to celebrate? The holiday season in 2020 almost seems like an inconvenience or a joke a time to panic and ponder the hopelessness of joblessness.
The Bureau of Labor Statistics reported that the number of long-term unemployed (those who are jobless for 27 weeks or more) increased from 3.5 million in October to 3.9 million in November, accounting for 36.9% of total unemployment. (By contrast, during the 1981 recession, only 26% of total unemployed were out of work for 27 weeks or more.) So, it won’t be much of a jolly holiday or a Happy Hanukkah if you’ve been in the unfortunate position of being unemployed since March, when the shock of the pandemic and initial closures first hit.