In theory, the approval of two vaccines for the deadly virus should have made reaching a deal easier. Finally, there is an escape route from the pandemic, and the task facing legislators is a straightforward one: providing sufficient financial support for individuals, businesses, and state and local governments to get through the next few months, until most people are vaccinated. With the interest rates on Treasury bonds near record lows, there should be no problem financing a new spending bill. The barrier is raw partisan politics on the part of the G.O.P.
Led by Senator Pat Toomey, of Pennsylvania, a group of Republicans is trying to include a stipulation in the
Unless last-minute Congressional negotiations to pass a new COVID relief bill succeed, more than 1 million Californians will lose their unemployment benefits at the end of this month.
Lawmakers in Washington, D.C. are currently debating a bipartisan bill that would extend two federal unemployment programs Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) into mid-April. Created in the spring by the federal CARES Act, both programs are set to expire on Dec. 26.
While policy experts are hopeful that relief will arrive soon, unemployment recipients say the uncertainty is causing profound stress. To be coming to what could be the end of my benefits just feels like the final nail in the coffin, said Koreatown resident Riordan Tenney.
By Grace Segers Potential COVID relief deal includes checks and benefits
Washington President Trump has signed a continuing resolution that will extend government funding through Sunday to allow negotiations over a government spending measure and a coronavirus relief bill to continue. The House and Senate passed the resolution earlier Friday.
Senate Majority Leader Mitch McConnell insisted Friday night that both sides of the aisle have firmly committed to finalizing another major pandemic rescue package for the American people. But, he continued, as of right now, we have not yet reached a final agreement, regretfully.
Democratic House Majority Leader Steny Hoyer said Friday there would be no vote on the spending measure or the relief bill on Saturday. As a result, the earliest the House can vote is Sunday.
The DOL reported:
In the week ending December 12, the advance figure for
seasonally adjusted initial claims was 885,000, an increase of
23,000 from the previous week s revised level. The previous week s level was revised up by 9,000 from 853,000 to
862,000. The 4-week moving average was 812,500, an increase of 34,250 from the previous week s revised average. The
previous week s average was revised up by 2,250 from 776,000 to 778,250.
emphasis addedThis does not include the 455,037 initial claims for Pandemic Unemployment Assistance (PUA) that was up from 415,037 the previous week.
The following graph shows the 4-week moving average of weekly claims since 1971.
Click on graph for larger image.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 812,500.
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