Extra $600 Unemployment Benefit to End This Month, How Much Will You Get if Not Extended?
Qualified individuals will no longer receive $600 federal unemployment aid at the end of the month. This means that an average American financial aid will decrease by 61 percent.
Over 31 million filed unemployment in the country. This enables them to receive a weekly $600 through the CARES Act signed by U.S. President Donald Trump last March. The said coronavirus relief law increased unemployment benefits by $600 a week.
But once the extension of the $600 unemployment benefit ends this July, the amount an unemployed citizen will receive will depend on the state where they were employed. Some may receive less than $300, while others may receive over $500.
The extra $600 a week is a big help for unemployed individuals most especially in this time of the global pandemic. However, many were also not able to receive this stimulus due to their immigration status in the country.
According to a published report in CNBC News, there will be no more extension for the stimulus check. The Republican lawmakers believe that a back-to-work bonus will be given instead of an aid.
With the help of the federal unemployment aid, an unemployed American normally received an amount of $980. But starting in August, the amount that each American will receive will depend on their geography or state. There is no uniform amount for all states. They give a different amount to their people.
In Mississippi, the least generous state, the unemployment benefit is only around $213 without the federal aid. However, Massachusetts gives its people a weekly amount of $552.
It is also important to note that each state sets caps and minimum benefit amounts for weekly jobless aid. These are categorized as lower and upper bounds that an unemployed individual should expect to receive.
Most of the states set a minimum cap of $100. Of all the states, Hawaii has the lowest cap, where they only give $5 a week without the federal aid.
In contrast, Massachusetts pays the highest maximum cap of all states in the country that could amount to $1,234 a week. Economists noted that other states have a lesser amount of aid due to looser eligibility rules.
Moreover, Mississippi also has the maximum lowest bail out every week. They only give an amount of $235 a week.
There was a proposal from the Democrats to extend the unemployment aid. However, the Republican lawmakers opposed the idea and offered instead a back-to-work bonus.
The rationale of the Republicans behind their proposal is to make sure that the economy is working, while the country is still in the process of recovery.
However, many criticized this because the number of infections in the country has significantly increased to 2.6 million due to economic reopening.
Despite all these odds, the Trump administration is weighing everything to balance health and economy.
How much do you think will you receive from your state?
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