قالب وردپرس درنا توس
Home / Tips and Tricks / Unemployment: 12 million people may lose their benefits after Christmas. Here’s What You Should Know

Unemployment: 12 million people may lose their benefits after Christmas. Here’s What You Should Know



break-the-piggy-bank-stimulus-check-cash-money-savings-debts-personal-finance-068

Americans need a different economic aid package.

Sarah Tew / CNET

Improved unemployment benefits and other programs determined with the CARES Act back in March will expire at the end of 2020. A study by The Century Foundation published Wednesday found that 12 million people will lose their federal and state unemployment benefits on Dec. 26 unless another incentive bill has passed. President elect Joe Biden has already been released his economic recovery plan, but he is only taking office his inauguration on January 20.

Democrats and Republicans have not made an agreement to give consent more incentive money before the 3 November elections, and the two sides need to speak further negotiations on the aid package. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer say they will not depart from them $ 2 trillion coronavirus relief package, including one second stimulus control. Senate leader Mitch McConnell continues to push for smaller, more targeted stimulus bills in the $ 500 billion region.

For now, tens of millions of people are wondering what will happen next. Unemployed workers received a bonus of $ 600 per week, along with an extended period to collect benefits as part of the CARES Act from March on. When the bonus ended in July, President Donald Trump signed one executive memo to restart the extra weekly funds, on top of the typical unemployment benefits. Those funds are known as Lost Wage Assistance, or LWA, and the aid was planned to last six weeks, providing an additional $ 300 per week to unemployed workers as Congress continued negotiations to establish a adopt new economic aid package. States have already exhausted their resources.

Here’s what we know about supplementary unemployment benefits. This story is regularly updated with new information.

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

When is unemployment benefit extended?

Trump told reporters on Oct. 30, “We will have a great stimulus package immediately after the election.” He has yet to bring up discussion of an incentive bill since his loss on November 3


Now playing:
Look at this:

Following stimulus checks: what to expect


3:03

President-elect Joe Biden’s stimulus plan calls for a boost in unemployment benefits, but does not address how much.

In summary, unemployment benefits are one of several types of aid that Republicans and Democrats have been negotiating since July in difficult talks that have resulted in some agreement and many disparities. When the first weekly bonus stipulated in the Cares Act expired in July, Republicans and Democrats began negotiations. Trump suppressed talks on October 6, but resumed talks on October 8. Now, in November, negotiations between Pelosi and Treasury Secretary Steve Mnuchin are at a precarious moment.

Which States Still Send $ 300 Checks?

001-stimulus-piggy-bank-tear-falling-money-clip-weigh-cash-scale

What will happen now if the best Republicans and Democrats disagree?

Sarah Tew / CNET

Trump’s memo called on the federal government to provide $ 300 a week in additional unemployment benefits for six weeks, starting retroactively on Aug. 1. the checks will expire soon.

The president also called on each state to pay an additional $ 100, for a total of $ 400 a week in increased unemployment benefits, although that has since been made optional.

FEMA approved the six-week LWA program for 49 states, along with Guam and Washington, DC. South Dakota is the only state to choose not to apply for aid. Arizona was the first state to send the $ 300 bonus on August 17.

Most states have stopped sending the extra weekly funds. These are the states that still offer the $ 300 bonus:

What happens to unemployment benefits without another incentive package?

The CARES Act has enacted multiple programs with a due date of December 31, 2020. This included an extension of unemployment benefits to 39 weeks instead of the typical 26 weeks set by the states. Those extra weeks will disappear, except for those states that have already enacted a longer period through 2021.

Another program that expires at the end of the year is the Pandemic Unemployment Assistance program. Self-employed contractors and handy workers do not normally receive unemployment benefits, but PUA allows them to receive weekly funds, similar to other unemployed workers. This program will also end on December 31.

What was the CARES Act again?

Congress has it $ 2.2 Trillion CARES Act in March to help Americans and American businesses after cities started closing as a result of the pandemic. Included in the package was additional unemployment assistance for people who lost their jobs as a result of the pandemic.

Since the introduction of shelter-in-place rules, tens of millions of Americans have received the additional federal unemployment assistance. With states offering between $ 235 and $ 1,220 a week in aid, the additional $ 600 a week has been an important part of many people’s financial lifeblood.

Who was eligible for increased unemployment?

If you are fired or on leave, you are eligible to claim unemployment benefits from your state of residence. Once the state has approved your claim, you will be eligible for all state benefits to which you are entitled. Because states cover 30% to 50% of a person’s wages – some states offer more while others offer less – the additional $ 600 from the federal government was added to close the gap.

break-the-piggy-bank-stimulus-check-cash-money-savings-debts-personal-finance-015

Tens of millions of Americans are facing financial hardship.

Sarah Tew / CNET

How has the CARES Act helped people who have been made redundant or on leave?

Each state has its own criteria for who qualifies for unemployment – and what those benefits include. This includes how much money you can receive, which is usually based on your income and how long you are eligible to receive it, which is usually based on how long you have had your most recent job. The CARES law provided for a stimulus fund – up to $ 600 extra per week – while also expanding state unemployment benefits to a maximum of 39 weeks instead of the typical 26 weeks.

Who was not eligible for the extra unemployment check?

There will be some people who receive unemployment benefits who cannot take advantage of additional funding. The U.S. Department of Labor (PDF) issued guidelines on the eligibility requirements for the LWA on August 11. Plaintiffs would have to qualify for a minimum of $ 100 from a state’s unemployment benefit program to be eligible for the additional $ 300 federal funds. This would disqualify 1 million people, according to the New York Times.

How are unemployment benefits actually calculated?

The state determines how much each applicant receives, usually based on that of an individual Gross Income. It varies from state to state, but is usually between $ 300 and $ 600.

How do I find out if I was eligible for unemployment benefits?

Eligibility criteria vary from state to state, but the general rule is that you must apply if you’ve lost your job or are on leave through no fault of your own. This includes a job that is directly or indirectly lost due to the current pandemic.

How do different states deal with unemployment money?

Again, the duration and amount of the benefit varied. Most states offer funding for up to 26 weeks, while others, such as Georgia, limit benefits to 12 weeks. Delaware, on the other hand, extended benefits to 30 weeks. The weekly benefit amount depends on an applicant’s gross income while employed and ranges between $ 300 and $ 600, with some exceptions. Mississippi had paid up to $ 235, while Massachusetts’ maximum was $ 1,220.

Where can I find more information about my state’s policies?

Each state’s employment office provides more information about its specific unemployment benefits.

How has the CARES Act helped self-employed people?

The CARES Act also created the Pandemic Unemployment Assistance Program, which provides benefits to individuals who would normally not be eligible for state unemployment benefits, such as gig workers, freelancers, independent contractors, and small business owners whose income has been compromised by the pandemic. Under CARES law, PUA funding is available until December 31, 2020.




Source link