Stimulus Update Today Unemployment: Extended Benefits Slated In House Covid Relief

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Stimulus Update Today Unemployment: Extended Benefits Slated In House Covid Relief
Stimulus Update Today Unemployment: Extended Benefits Slated In House Covid Relief

The stimulus bill passed by the House of Representatives early on Saturday should be signed by President Joe Biden before the March 14 end of current federal benefits, according to reports.

The new Covid-19 relief bill passed by the House contains relief in the form of extended unemployment benefits for more than five months, giving recipients an extra $400 a week through Aug. 29.

In addition. stimulus checks of $1,400 will be given to adults earning less than $75,000, with $1,400 for children under age 17.

The relief bill now moves to the Senate, where a provision to strike the $15 federal minimum wage provision faces steep opposition from Republican lawmakers. Democrats can still pass the bill with a simple majority using a budget rule called reconciliation.

More than 19 million Americans were collecting benefits as of early February, according to the Labor Department.

There’s good news for self-employed, gig workers and others who don’t qualify for state-level assistance. They will be eligible for extra weeks of state benefits to the long-term unemployed under the bill’s provision for Pandemic Emergency Unemployment Compensation The bill would offer PUA recipients a maximum 74 weeks of benefits, up from 50.

The bill also provides an extra $100 a week for certain self-employed workers. Workers are eligible for this if they make at least $5,000 in net self-employment income and aren’t receiving benefits through the Pandemic Unemployment Assistance program.

Individuals with an adjusted gross income (AGI) in 2020 of up to $75,000 (or couples who earned up to $150,000), and heads of households with an AGI up to $112,500, would qualify for the full amount.

The amount would be reduced and could potentially be zero for Americans with higher AGIs.

The bill passed narrowly, but not before accusations of waste in the package were made. No Republicans in the House voted for the bill.

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