COVID-19 | Dec 29, 2020

What’s In The Newest Covid-19 Related Bill: Unemployment Funding And More…

What’s In The Newest Covid-19 Related Bill: Unemployment Funding And More…

On Monday, Dec. 21, 2020, Congress passed an emergency stimulus package designed to deliver approximately $900 billion in COVID-19-related aid. On Sunday, Dec. 27, 2020, President Donald Trump signed the bill into law. The bill was part of a $1.4 trillion spending package that will keep the government open for the fiscal year.

Notably, the bill provides funding for unemployment benefits, small businesses, direct economic payments to individuals, vaccine distribution, and rental assistance. This article provides an overview of what is included in the emergency relief bill.

How The Bill Addresses Unemployment
Benefits Funding And Extension

The bill includes funding for unemployment benefits for out-of-work Americans. Specifically, this bill allows unemployed Americans to receive $300 per week in federal funding in addition to the existing unemployment aid they may be collecting from their state, if those state-level benefits have not already run out. The additional unemployment benefits and extensions included within this bill would provide aid for 11 weeks from their expiration at the end of December 2020 through at least March 14, 2021.

Initial COVID-19 relief for unemployment benefits was introduced by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was enacted on March 27, 2020. The CARES Act provided funding for states to waive any waiting week requirements for unemployment income (UI) benefits during the COVID-19 pandemic and to provide an additional $600 per week to all individuals receiving UI benefits for weeks of unemployment ending before July 31, 2020. President Trump signed a memorandum to extend a portion of unemployment wages after the initial $600 per week expired.

Additionally, the bill includes an extension of Pandemic Unemployment Assistance (PUA). PUA is a program that allows workers who are not traditionally eligible to receive unemployment benefits, including self-employed and gig workers, to do so. An 11-week extension in base benefits through this program is also included within the bill.

 

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