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On Sunday, US President Trump stopped his veto threat and finally agreed to sign a $ 900 billion stimulus bill. This measure should immediately benefit millions of unemployed Americans, even if one of the measures to grant Americans $ 600 in relief has been widely criticized: People believe this will not adequately alleviate the economic losses caused by the new AIDS epidemic. crown.
First, for the more than 19 million Americans still on the unemployment benefits list, the bill will continue to provide weekly federal unemployment benefits, and the number has increased. In addition to state benefits, individuals will receive an additional $ 300 in benefits per week, which can last up to 11 weeks. However, this is a decrease compared to the US $ 600 per week subsidy provided in the New Coronary Epidemic Assistance Act (CARES) until the end of July.
This fiscal stimulus bill will further expand the scope of unemployment benefits caused by the epidemic. Currently, approximately 14 million unemployed Americans are eligible for assistance. If the stimulus bill is not passed, the unemployed who were originally covered by the Epidemic Unemployment Assistance (PUA) plan will lose their protection.
To help unemployed Americans better understand how the latest stimulus plan will affect their well-being, read on.
How does the weekly unemployment benefit of $ 300 work?
The stimulus bill passed in March provides additional unemployment insurance benefits of $ 600 per week for each person eligible for state relief on the original basis. But these additional payments were paid at the end of July. After the $ 600 benefit was distributed, President Trump signed a memorandum in August, promising to award an additional $ 300 in unemployment benefits to those who had received at least $ 100 a week in unemployment benefits. However, in most states, money shone a few months ago.
The $ 300 increase in unemployment benefits signed by Trump is similar to the $ 600 benefit in the New Crown Epidemic Relief Act, which means that all people eligible for state unemployment assistance or assistance pandemic unemployment (regardless of state assistance level) You can receive this relief.
Once the applicant’s state approves their eligibility for unemployment insurance, they will automatically receive an additional $ 300 in federal grants each week. All they have to do is keep showing the state each week that they are eligible for benefits.
Who is eligible for the $ 300 unemployment benefit?
The “New Crown Epidemic Relief Act” passed in March expanded the range of people eligible for unemployment benefits to include unemployed part-time workers, self-employed, freelancers, and independent contractors. Unemployed who are covered by the epidemic unemployment assistance program, as well as unemployed who are originally registered with the state, will automatically receive this new weekly federal benefit of $ 300.
All eligible individuals will receive an additional $ 300 per week, regardless of their previous salary. This is also the foundation of the United States unemployment insurance system. For example, after a worker in New York State loses his job, he could receive a maximum of $ 504 per week in state benefits. After the introduction of the new law, plus an additional $ 300, you will receive a total of $ 804 per week.
When will the promised $ 300 be paid?
The additional unemployment benefit of $ 300 will be paid from the week after December 27 through the week before March 13. It is not clear when this additional benefit will begin to be paid – the time to receive the first additional benefit varies from state to state. If the statuses are slow, the payments will also be delayed.
Can unemployment benefits exceed income?
Individuals who are eligible for unemployment insurance can get unemployment benefits of $ 300 per week regardless of their pre-unemployment income. The new benefits are equivalent to 40 hours of work per week at an hourly rate of $ 7.50, which is slightly higher than the standard 2020 federal minimum wage. Along with state benefits, some low-income Americans may usher in of a “salary increase.”
If I apply through my own state, can I automatically get the $ 300 benefit in the federal fiscal stimulus plan?
Yes. Once your state has approved your eligibility for unemployment insurance, you will automatically receive additional weekly federal funds. All you have to do is continue to show the state each week that you are eligible for benefits.
What about benefits like the Epidemic Unemployment Act (PUA) and Epidemic Emergency Unemployment Compensation (PEUC)?
The stimulus bill extends the date of benefits from Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC), and also expands their coverage: a broader range of people eligible for benefits by unemployment, including casual workers and workers. Self-employed. At the same time, after people eligible for unemployment benefits have received 26 weeks of standard unemployment insurance, the allowance will also provide them with additional benefits for another 13 weeks.
The passage of the bill also means that the Epidemic Unemployment Act (PUA) and the Epidemic Emergency Unemployment Compensation (PEUC) will continue until March 13, 2021, and the duration of the latter’s subsidy will also increase from 13 weeks. to a maximum of 24 weeks. (Chinese network of fortune)
Compiler: Chen Congcong
President Donald Trump withdrew his veto threat on Sunday and signed the $ 900 billion stimulus bill, a measure that should immediately benefit millions of unemployed Americans, even if his $ 600 checks have been harshly criticized as insufficient relief for the economic damage caused by the coronavirus pandemic. .
For starters, the package will bring back improved federal unemployment benefits on a weekly basis for the more than 19 million Americans still on the unemployment benefit rolls. These enhanced benefits will pay $ 300 per week, in addition to state benefits, for up to 11 weeks. That’s less than the $ 600 weekly payment the CARES Act sent unemployed Americans through the end of July.
The stimulus package will also expand pandemic unemployment benefits, which currently provide benefits to about 14 million unemployed Americans. Unemployed Americans, covered by programs like Pandemic Unemployment Assistance (PUA), would have lost their benefits entirely if the stimulus bill had not passed.
To help unemployed Americans better understand how the latest stimulus package will affect their benefits, read on.
How does the weekly unemployment benefit of $ 300 work?
The stimulus bill passed in March provided an additional $ 600 per week in unemployment insurance benefits for everyone who qualified for a state program. But those enhanced payments dried up at the end of July. After the $ 600 benefit ran out, President Trump signed a memorandum in August to send an enhanced unemployment benefit of $ 300 to those who receive at least $ 100 a week in state unemployment benefits. However, in most states, that money ran out months ago.
The enhanced unemployment benefit of $ 300 enacted by Trump is similar to the CARES Act benefit of $ 600, which means that it would go to everyone who qualifies for a state unemployment program or pandemic unemployment assistance, regardless of levels of employment. state benefits.
Once applicants are approved for unemployment insurance by their state, they will automatically receive the additional weekly federal money of $ 300. All they have to do is continue to certify their weekly benefits with their state.
Who is eligible for the $ 300 pandemic unemployment benefit?
The CARES Act, which was passed in March, expanded eligibility for unemployment benefits to include the part-time unemployed, the self-employed, the self-employed and independent contractors. These unemployed Americans covered through Pandemic Unemployment Assistance, along with anyone on traditional state unemployment rolls, will automatically receive the new federal weekly benefit of $ 300.
And those who qualify will receive the additional $ 300 per week, regardless of their previous salary. This is in addition to the state unemployment insurance benefit. For example, a worker in New York who receives the maximum state benefit of $ 504 per week would receive a total of $ 804 per week.
When will the $ 300 checks start to come out?
Enhanced Unemployment Checks of $ 300 will be issued for the week ending December 27 through the week ending March 13. It is not clear when the enhanced benefit will begin to be deposited: The time frame for receiving that first enhanced payment will vary by state. If the statements are delayed, the benefit will be returned.
Can my unemployment benefits be more than my income?
The additional $ 300 a week in unemployment benefits is available to those who qualify for unemployment insurance, regardless of their income level prior to losing their job. The additional weekly benefit of $ 300 equates to $ 7.50 per hour during a 40-hour workweek, slightly above the federal minimum wage for 2020. When combined with state benefits, some low-income Americans could see a wage increase.
If I apply through my state, will I automatically get the $ 300 federal benefits as part of the stimulus?
Yes. Once you have been approved by your state for unemployment insurance, you will automatically receive the weekly extra federal money. All you have to do is continue to certify your benefits weekly with your state.
What about benefits like PUA and PEUC?
The stimulus bill extends benefit dates for Pandemic Unemployment Assistance (PUA), which expands who is eligible for unemployment benefits, including the self-employed and self-employed Americans, and Pandemic Emergency Unemployment Compensation ( PEUC), which grants 13 weeks of additional benefits to qualified individuals. after exhausting 26 weeks of standard unemployment insurance.
Passage of the bill means that PUA and PEUC will run until March 13, 2021, and PEUC will increase from 13 weeks to a maximum of 24 weeks.
