President Trump Declares $400 Unemployment Benefit
To support the persons with unemployment to manage their daily wages, federal governments have increased their monthly stipend amount to $300 whereas the state will provide them with an additional $100. According to the latest article, not all states have the funds or infrastructure to provide a stipend for unemployment. The federal weekly unemployment benefit bonus from the CARES Act expired on July 31. This benefit program was earlier providing a $600 with no other deal, President Trump has signed an executive memorandum to restart the additional extra weekly funds but at $400 in which the Federal government will provide $300 whereas the state government will take in charge in providing $100. Earlier scheme to provide $600 for every individual who is unemployed reduced to $ 400.
During one of the press conferences that happened at his golf club in Bedminster, New Jersey Trump has said that “I’m taking action to provide an additional, or an extra, $400 per week in expanded benefits,”. He also added that “States will be asked to cover 25% of costs using existing funding such as the tens of billions of dollars available to them through the coronavirus relief fund. Under this plan, states will be able to offer greater benefits if they so choose and the federal government will cover 75% of the costs.”
White House press briefing that happened on Monday, Press Secretary Kayleigh McEnany said, “We hope to see it quickly and close to immediately.” about the unemployment benefits. She has said that the speed of initiating the fund will depend on the states where each state has to kick in $100. Along with this unemployment, Trump has also signed three other executive actions payroll tax holiday, federal student loan assistance, and eviction protection. ON asked about the Starting about the Unemployment benefit Treasury Secretary Steve Mnuchin said during a second White House press which held on last Monday said that most of the states in various regions of the country will kick start the benefits scheme within this two or three weeks.
As a part of the $1 trillion package many benefits scheme has been introduced to benefit every individual in the country. This package has created several new programs along with modifications under the CARES Act such as unemployment insurance, the Paycheck Protection Program and the Economic Income Payments. In March soon after the states announced their lockdown to stop the spread of coronavirus in order to help Americans and US businesses Congress passed the $2.2 trillion CARES Act. This package holds additional unemployment aid for people who lost their day to day jobs because of the global pandemic.
Worker Relief and Security Act, which was proposed by Democratic Sens. it expected that Michael Bennet and Jack Reed and Rep. Don Beyer, would extend the benefit for the unemployment individual until the president declares the state of emergency for COVID-19 is over around the country. During this phase, the scheme will continue for another 30 days and then come to a close. Those who are suffering due to the unemployment will receive weekly funds which will be slightly reduced over the course period of 13 days. These funds will be reduced based on the unemployment rate of each state which also depends on the funds available for providing to the unemployed. These proposals are opposed by Republicans discourages workers from returning to their jobs. The unemployment benefit different from state to state based on an individual’s gross income.