Expanded Unemployment Benefits Set to Expire

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Expanded Unemployment Benefits Set to Expire

On July 31, the extra $600 per week in federal unemployment insurance authorized by coronavirus relief legislation ends. Democrats are fighting to extend it, saying it is necessary to help the unemployed. Republicans are vowing to block it, arguing that it is only helping prolong economic difficulties.

 

Congress included the additional unemployment money in the CARES Act when it passed in March. The rationale was that in a time of unprecedented economic uncertainty when many businesses are closing down, people who were unemployed needed extra help. Many Republicans were skeptical at the time of the additional payment, arguing that it would lead to many people earning more on unemployment than in a job. But it was included as part of the overall relief package, but with an expiration date of July 31.

 

With Congressional leadership considering what is going into a new coronavirus aid bill, the expanded unemployment benefits is a hot topic. Democrats say it would be cruel to end payments for people who are still out of work. Some economists also say that stopping the expanded benefits would hurt the economy. Republicans, however, point out that traditional unemployment benefits will continue. They also say that it's time to end government payments that give people an incentive not to seek out new jobs.

 

Previous coronavirus aid bills have been largely bipartisan. Differences between Republicans and Democrats in Congress, as well as differences between Congress and the president, are currently hampering efforts to craft new legislation. The expanded unemployment benefit is a big area of disagreement. 

 

If congressional leaders can work out their differences, Congress is likely to pass another round of coronavirus aid in early August.

 

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