Covid reduction invoice extends and enhances unemployment advantages
Ting Shen / Bloomberg via Getty Images
Unemployed would receive an additional 11 weeks of unemployment benefits and a $ 300 increase in aid per week under a Covid relief agreement reached on Sunday.
Certain self-employed and gig workers would receive an additional $ 100 a week, according to a document summarizing the legislation.
The 11-week deadline is less than the amount offered by a non-partisan package released earlier this month. This bill would have paid extended and improved services for 16 weeks until mid-April.
In total, the $ 900 billion compromise package, the result of frantic cliff-face negotiations for millions of workers by the end of the year, offers $ 120 billion in additional unemployment benefits.
According to the Department of Labor, more than 20 million Americans are collecting unemployment benefits.
$ 300 weekly improvement
PUA and PEUC expanded
The legislation would also expand two programs created by the CARES Act: Pandemic Unemployment Benefit, which pays benefits to self-employed, gig, freelance and part-time workers who are generally not eligible for state unemployment insurance; and Pandemic Emergency Unemployment Compensation, which pays extra weeks of benefits to people who have exhausted their government benefits.
$ 100 for self-employed
Some self-employed, giants, and other workers who have both wage (i.e. W-2) and self-employment income (i.e. 1099) are also entitled to an additional $ 100 per week.
Many of these people receive a low level of unemployment benefit due to the calculation of their benefits. States base their performance levels solely on the wages reported on their annual W-2 tax forms without taking into account the potentially much higher self-employment income.
The bill also gives individuals direct economic relief through stimulus checks of $ 600 for individuals earning up to $ 75,000 per year, $ 1,200 for couples earning up to $ 150,000, and an additional $ 600 for dependent children.