New Yorkers risk losing 61% of their income: what is the reason
'08.07.2020'
Vita Popova
New Yorkers will lose an average of 61% of their current income if the weekly benefit payment of $ 600 is not extended. The program expires on July 31 or even earlier. This was reported on the site. silive.com.
Millions of Americans today depend on a weekly payout of $ 600 in federal unemployment benefits. Weekly payments from the Federal Unemployment Compensation Program were introduced by Congress, under the CARES Act, adopted in late March, to address the effects of the COVID-19 pandemic.
A monthly payment of $ 2400 played an important role for individuals and families who suddenly lost their jobs due to a pandemic, temporarily or permanently.
The program, under which 20 million Americans receive these payments, expires July 31.
Until Congress decides, and until the president signs an additional measure, residents who are eligible for unemployment benefits will continue to receive it. But after July 31, the allowance will be $ 504 weekly.
In May, in response to the COVID-19 pandemic, Congress passed the Emergency Solutions for Health and Economic Recovery Act or the HEROES Act worth $ 3 trillion. It provides for the extension of the federal unemployment benefit until January 2021. A Senate vote is now pending before the law takes effect.
On the subject: $ 2400 a month: federal aid that many don't know about
True, when this law was passed in Congress, US President Donald Trump called it "dead upon arrival." And last week, Senate Majority Leader Mitch McConnell said the law is unlikely to pass in the Senate, controlled by the Republican Party.
According to the Department of Labor, the number of initial applications for unemployment benefits in New York after June 20 fell by 6.
The House Committee on Ways and Means has published a report stating that New Yorkers will lose an average of 61% of their current income if the weekly benefit payment of $ 600 is not extended.
The report shows that the average weekly allowance in the state, including the Federal Unemployment Benefit, is $ 971, including an average of $ 371 on state benefits.
It is worth noting that additional $ 600 Unemployment Benefit May Be Canceled Earlier Than Expected. These payments will end "before or on July 31, 2020."
July 31 falls on Friday, which is a problem because states usually pay unemployment benefits for the weekly cycle, which ends on Saturday or Sunday. And because of the wording of the CARES Act, this means that states will stop making additional payments of $ 600 on July 25 or 26 (depending on how the weekly payments are set in each state), and not on the very last day of the month, as many had expected.
As ForumDaily New York wrote earlier:
- US President Donald Trump spoke about the second wave of assistance in connection with the coronavirus. Read in detail in this material.
- The additional $ 600 that Americans receive as weekly unemployment benefits ends on July 31. About what will replace the unemployment benefits paid in connection with a pandemic, Read here.
- Who is eligible for unemployment benefits? What to do for those who continue to work, but earn less? How to apply? The answers to these and other questions that interest many New Yorkers are presented in this publication.
