Democrats propose to keep $600 unemployment checks rolling until 2021

Personal finance

In the massive legislative package House Democrats unveiled on Tuesday to inject more relief into an economy battered by the coronavirus, unemployed Americans would get an extra $600 a week through the end of the year.

In the stimulus bill Congress passed in March, many jobless Americans became eligible for that weekly payment on top of their state benefit. The hope was to roughly replace the average person’s pre-pandemic earnings. State benefits often don’t come out to even half of people’s weekly salaries

However, the extra $600 payment is currently slated to stop after July 31. Some states are ending it a week earlier, on July 25.

The virus has destroyed more than 20 million jobs in the U.S., leaving 15% of Americans unemployed.

This is breaking news. Check back for updates.

More from Personal Finance:
IRS sets May 13 deadline to submit direct deposit data for stimulus checks
130 million stimulus checks have gone out. Here’s which states got the most
Families of dead Covid-19 victims may have to give back stimulus checks

Articles You May Like

Berkshire CEO Greg Abel says Japanese bond yields not a challenge for trading houses right now
Traders are piling into this international stock market that just pulled ahead of the Nasdaq
Piper Sandler expects Robinhood to kickstart football season with a win
The wealth of the world’s billionaires reached $15.1 trillion last year, per a new report
Broadcom delivers strong earnings view as CEO touts growth with AI labs

Leave a Reply

Your email address will not be published. Required fields are marked *