(NewsReady.com) – When Congress passed the CARES Act, it included a weekly payment of $600 for those filing for unemployment due to COVID-19. The current tally as of May 20 is around 36 million claims and the unemployment rate is 14.7%, the highest since the Great Depression. As much of the US economy remains closed down, it’s no wonder people are out of work.
However, it turns out that $600-per-week payment could be a contributor to high unemployment levels. Some people might make more money living on unemployment than at their job, something Republicans were worried about while writing the CARES Act.
President Donald Trump seems to be in alignment with the GOP. Instead of extending unemployment benefits, he’s working with governors to safely re-open local economies and get people back to work.
Trump expresses opposition to extending unemployment benefits enacted in response to pandemic https://t.co/mr9UjPajqD
— The Washington Post (@washingtonpost) May 19, 2020
The new 1,800-page HEROES Act passed by the Democratic House contains an extension of these unemployment funds to January 2021. To potentially counter this, Trump and other GOP Senators met up for a private lunch to strategize against the act. Many Republicans want to wait and see how the CARES Act fully plays out before spending another $3 trillion on stimulus measures, which would put the US further into debt.
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