Saturday saw theof the , all but cementing funding for the and In some last-minute operations, the provision for unemployment benefits was slightly adjusted (and this also applied to the The federal unemployment check bonus, which adds a flat fee to what your state provides per week, is extended through September.
The plan would bring in $ 300 instead of $ 400 in bonus benefits under the new changes. While recipients would happily receive $ 100 per week, the check would last until September 6 instead of the first due date at the end of August. One reason for this change is that the Senate did not meet at the end of August, which could cause problems if the bonus checks were to be renewed.
With the longer payments, Senate Democrats also added a provision to make the first $ 10,200 in unemployment benefits tax-free for households with incomes below $ 150,000 (and also create a way toHere’s everything you need to know about how the new pack will help those who are unemployed.
I am an unemployed worker. How much extra money will I get under the new invoice?
Thewill through Sept. 6, for $ 300 more a week on top of what your state pays. That’s lower than the $ 400 federal bonus proposed by a previous bill, and also lower than the $ 600 per week extended in the
The period between March 14 and September 6 comprises 25 weeks. If the payments were to increase immediately, that’s an additional $ 7,500 in federal unemployment insurance you can count on, in addition to your state’s check amount. It is not clear at this point when states would start providing the new benefits.
Will the additional $ 300 unemployment bonus work retroactively?
So far there is no indication that unemployment benefits will be retroactive. That could change in the final bill, or it could be determined by the states.
How many of the last $ 300 unemployment bonus checks are there left?
Thesucceeded in December added This includes the $ 300 weekly checks, pandemic unemployment assistance for gig workers, and an extension of the benefits provided by the state. The official due date for these benefits is March 14 – less than two weeks away – but there is a phase-out period until April 5, as some recipients have not yet received payments from their state’s unemployment offices.
Taxes on the new and old unemployment checks
To make up for the loss of $ 100 per week (from $ 400 to $ 300) in bonus unemployment benefits, a tax “sweetener” would help you avoid paying taxes on, or at least reduce, the weekly insurance you receive. . That was a huge problem with the previous rounds of $ 600 and $ 300, respectively. Ultimately, tax exemption – and the ability to recover taxes from the first two rounds – could make up for any loss in payment. Here are more details on what we know
What will happen in October?
Since his election, Biden has said several times that more relief will come, but he has yet to specify when that will happen. If the $ 1.9 trillion COVID-19 bill passes, there likely won’t be any extension of benefits until nearing its expiration date.