The working understanding on Capitol Hill is that President-elect will seek Joe Biden. It is not clear whether that one , but it can extend certain protections, such as a stop on the majority of and the extension of additional unemployment benefits for those who lost their jobs as a result of the pandemic.
As it is, thecurrently under consideration only extends some rescue measures for a few more months or even less. We take you through the specific benefits that expire in 2020, and how the new incentive law could extend them.
A weekly unemployment check of $ 300 bonus
Average weekly unemployment benefit does not always equal an employee’s income and typically ranges between $ 300 and $ 600. To help fill the gap, theadded one . When that bonus expired on July 31, President Donald Trump signed an executive memo that paved the way for a smaller weekly bonus of $ 300 (for a six-week period) with the expectation that Congress would soon approve yet another aid package.
That hasn’t happened yet, and all states have used up the six weeks of additional funding. According to the president’s memo, the $ 300 bonus will expire December 31.
In the, the $ 300 bonus will restart for an additional 16 weeks once it expires, although it’s unclear when states would send the payments.
Extended weeks of unemployment insurance
Individual states handle unemployment insurance claims and determine whether a person is eligible, how much they receive, and for how long they can collect. While it varies from state to state, the. Beginning January 1, those 13 additional weeks provided by the federal government are over.
Some states have already filled the void themselves, including extending their disbursement period to 59 weeks, according to the Center for Budget and Policy Priorities. Others, including Alabama, Arkansas, and Utah, have taken no action against it, which could leave unemployed workers in those states unaided when the new year begins.
If Congress, it would add another 16 weeks of unemployment insurance to cover job seekers until April.
Unemployment pay for freelancers, contractors, handy workers
Another initiative of the CARES Act, the Pandemic Unemployment Assistance Program, also known as, provided economic relief to those who would not normally qualify for unemployment: the self-employed, contractors and handymen. The PUA will end on December 31, but most will receive their final check on December 26.
Thewould bring an additional 16 weeks of PUA, along with the $ 300 weekly bonus.
An eviction ban for tenants and home owners
Theprovided limited protection in evictions by focusing only on homes with a federal mortgage loan or households that received some form of federal funding. The by the Centers for Disease Control, who called for an end .
The agency’s assignment included more households, including tenants in 43 million households. But it also has an expiration date of December 31st.
If itpasses, it would extend the moratorium by one month. It is then expected that elected president Biden would give a longer extension .
Student loan deferment
Students who pay off federal student loans were also given a reprieve under the, allowing them to defer their loan payments (and halt interest accrual) until the end of September 2020. In August . United States Secretary of Education Betsy DeVos announced a one-month extension on December 4 due to a postponement to January 31.
Thedoes include a student loan deferment that would last until April.
For more information, hereand here is .