Around 25 million unemployed Americans will stop receiving $600 checks by the end of the week unless Congress acts.
Republicans appeared willing on Thursday to slash expanded unemployment benefits from a flat rate of $600 to a figure below $200 in their plan for a fifth coronavirus relief bill — though GOP lawmakers still haven’t settled on a final figure — a move that could set them up for clash with Democrats who are pushing hard to extend the benefits in full. ... [+]
House Small Business Committee at the U.S. Capitol on July 17, 2020 in Washington, DC. The committee hearing is looking into the Small Business Administration and Treasury pandemic programs. Around 25 million unemployed Americans will stop receiving the $600 checks by the end of the week, as Congress races to come together on a fifth coronavirus stimulus package.
A 70% wage replacement based on average worker wages in the U.S. would translate to payouts of around just $175-$200 per week, a significant cut from the $600 per week in jobless benefits being paid out by the federal government.
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