Personal finance

House Covid relief bill extends unemployment benefits by 5 months, pays extra $400 a week

Al Drago | Getty Images News | Getty Images

Unemployment benefits extended

Those programs include Pandemic Unemployment Assistance for self-employed, gig and other workers who don’t qualify for state-level assistance; and Pandemic Emergency Unemployment Compensation, which pays extra weeks of state benefits to the long-term unemployed.

The bill would offer PUA recipients a maximum 74 weeks of benefits, up from 50. PEUC recipients would get up to 48 weeks instead of 24.

Extra $400 a week

Benefit recipients would also get an extra $400 a week through Aug. 29.

State unemployment benefits replaced about 38% of pre-layoff wages for workers, on average, in the third quarter last year, according to the Labor Department. An extra $400 a week would raise that wage replacement to 86%.

The bill would also provide 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.

Products You May Like

Articles You May Like

China’s automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
Apple’s China sales in focus ahead of earnings
Walmart launches new grocery brand, as it tries to hang on to inflation-fueled growth
This 401(k) match change could have ‘unintended consequences’ at tax time, experts say
A Report From The Last Frontier, Part II

Leave a Reply

Your email address will not be published. Required fields are marked *