قالب وردپرس درنا توس
Home / Tips and Tricks / These COVID-19 incentive benefits will end on December 26 without a new incentive bill

These COVID-19 incentive benefits will end on December 26 without a new incentive bill



010-cash-burning-cut-up-stimulus-fail-trump-2020-October

COVID-19 emergency relief programs will be phased out soon.

Sarah Tew / CNET

In March, Congress passed it CARES Act and created programs to provide financial assistance to Americans affected by the pandemic. Now, those programs are days away from expiring, unless another incentive bill has passed.

A bipartisan bill of $ 908 billion is in the center of negotiations between Democrats and Republicans. If approved, the bill would take four months $ 300 weekly bonus payments for unemployed workers along with increased funding for improved unemployment benefits. The package also includes assistance for state and local governments, additional funds for the Paycheck Protection programs, and money for the Covid-19 vaccine, which was approved by the FDA Thursday.

Without that incentive relief, the following programs will disappear from December 26, 2021.

read more: Here’s who wants to give you a second stimulus check today


Now playing:
Look at this:

Following stimulus checks: what to expect


3:03

$ 300 Bonus Weekly Unemployment Check

Average weekly unemployment benefit does not always equal an employee’s income and typically ranges between $ 300 and $ 600. To help fill the gap, the CARES Act added one weekly unemployment benefit of $ 600. 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 did not happen, and most states have used up the six weeks of additional funding. The $ 300 bonus, according to the president’s memo, will expire on December 26 and is expected to go unused.

More months of improved unemployment benefits

Individual states handle unemployment insurance claims and determine whether a person qualifies, how much they receive, and for how long they can collect. While it varies from state to state, the CARES Act extended the duration of benefits from 26 weeks to 39 weeks. Beginning January 1, those additional 13 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.

read more: Coronavirus Unemployment: Who Is Covered, How To Apply, And How Much It Pays

033-cash-stimulus-bill-help-americans-poverty-last-dollar-torn-election

Can Congress put these programs back together before more damage is done? It’s a waiting game.

Sarah Tew / CNET

Money for freelancers, contractors and handymen

Another initiative of the CARES Act, the Pandemic Unemployment Assistance Program, also known as PUA, 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. If the federal government doesn’t renew it, it’s up to the states to determine whether to intervene on January 1. .

Eviction protection for tenants

The CARES Act limited protection in evictions by focusing only on homes with a federal mortgage loan or households that received some form of federal funding. The the protections were then expanded in September by the Centers for Disease Control, who called for an end evictions for non-payment of rent. The agency’s order related to more households, including tenants in 43 million households, but it also has a December 31st expiration date.

Federal Student Loan Deferral

Students who pay off federal student loans were also given a reprieve under the CARES Act, allowing them to defer their loan payments (and halt interest accrual) until the end of September 2020. In August Trump extended the delay to December 31. United States Secretary of Education Betsy DeVos announced a one-month extension on December 4 due to a postponement to January 31.

On February 1, borrowers may again charge interest on these loans and students may have to pay them off again, unless the servicers offer deferment options.

For more information, here the most recent status of stimulus negotiations and here is everything we know about the next lump sum payment.


Source link