There is an expiration date of the last outstanding COVID-19 relief benefits before smoking.
CNET staff
In just seven weeks, America’s remaining coronavirus relief programs will end on December 31, 2020. This is the legacy of President Donald Trump Four executive actions From August. Without a second stimulus package to renew benefits, these programs are over and the phase is set for a phase of financial problems starting in January. 1. Some people file in the way of filing personal bankruptcy. Get rid of it.
America’s top legislators and economists agree More stimulation aid It is imperative to feed, clothe, keep and employ and help millions of people Give the economy a hand shot. Former Vice President Joe Biden, who became U.S. president-elect on Saturday, It has a stimulus plan of its own. However, he will not be able to formally proceed until he takes official duties on January 20.
Federal Reserve Chairman Jerome Powell said Nov. 5, acknowledging that Congress has the authority to approve stimulus funds, and said Feb. 5 that “if we can achieve a strong recovery, we can at least get a little more financial aid.” It happens that the people of Congress have a rival approach.
Size of The second stimulus package and how quickly it can pass Happily fought along party lines. Democrats in Congress, led by House Speaker Nancy Pelosi, prefer a larger package with more programs. Republicans, led by Senate Majority Leader Mitch McConnell, want a smaller, smaller funding bill. It is not clear whether a future Senate proposal will be included Another stimulus check for individuals and families Or more unemployment assistance
March Cares Act Authorized The first 200 1,200 stimulus checks And Weekly 600 weekly unemployment bonusIs, which collectively provided aid to millions of Americans Were unemployed or had an economic need When the epidemic hit. Here are the main programs that are set to finish.
read more: To get a stimulus check you need to visit a U.S. resident in the United States. No need to be a citizen
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Next checks the excitement: what to expect
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13 extra weeks of unemployment
Individual states handle unemployment insurance claims, determining whether a person is eligible, how much they receive and for how long they can collect. Although they vary by state, but The benefit period in the Care Act has been increased from 26 weeks to 39 weeks. As of January 1, the additional 13 weeks provided by the federal government have expired.
According to the Centre’s budget and policy priorities, some states have already revoked themselves, extending their benefits to 59 weeks. Others, including Alabama, Arkansas and Utah, have not taken any action on it, which could leave unemployed workers in these states without assistance as the new year begins.
read more: Coronavirus unemployment: who is covered, how to apply and how much it pays
Epidemic unemployment assistance program
Another initiative of the CARS Act is the epidemic unemployment assistance program, also known as PUA, Provided economic relief to those who would not normally qualify for unemployment: self-employed workers, contractors and gig workers. The PUA is set to expire on December 31st. If the federal government does not increase it, it will be up to the states to decide whether to take action on January 1.
Unemployment benefit of 300 per week
The average weekly unemployment benefit is not always equal to the worker’s earnings and is usually between $ 300 and $ 600. To help fill the gap, this Cares Act Added a Weekly unemployment benefit bonus of 600. When that bonus expired on July 1, Trump signed an executive memo paving the way for a $ 300 weekly bonus (for a six-week period), with the expectation that Congress would pass another relief package soon. That hasn’t happened, and most states have run out of six weeks of extra funding. According to a presidential memo, the Dec 300 bonus provision is due to expire on December 27, and it is expected to be an improper sunset.
Can Congress do these programs together before further damage is done? It is a game of waiting.
CNET
Protection from dismissal for failure to pay rent
This Cares Act Only federal mortgage loans or certain types of federal funding provided limited protection on evacuation by focusing on the homes received. This Security was then expanded in September Evacuation was banned for failure to pay rent by the Centers for Disease Control. The agency’s order includes more than 43 million homeowners, including tenants, but has an expiration date of 31 December.
Student loan deferred
Students who are repaying federal student loans also received an undergraduate correction Cares Act, Which gave them the option to defer their loan repayments (and the one that stopped earning interest) until the end of September 2020. In august, Trump extended the adjournment until Dec. 31. On January 1, loan providers will once again be able to charge interest on these loans and students can resume paying them until the providers offer deferred options.
For more information, here it is The latest state of excitement negotiations, And here it is Everything we know about the upcoming relief bill.
