In response to the Coronavirus pandemic, the CARES Act was passed to provide financial relief to individuals impacted. This included an additional $600 per week in unemployment insurance (UI) for the millions of people who lost their job during the pandemic. However, the money is not endless and this benefit is scheduled to run out at the end of July unless it is extended by the federal government. Continue reading below to learn more about the federal unemployment bonus before it ends.
When Will I Get the Bonus?
According to the U.S. Department of Labor, the $600 benefit is available for weeks ending on or before July 31. Eligible individuals can receive retroactive payments of this benefit based on their determined date of eligibility. Individuals that are stuck in unemployment backlogs can receive the retroactive checks going as far back as March 29 for the $600 bonus.
Will the Extra Unemployment be Extended?
In May, Democrats in the House of Representatives included an extension of the extra $600 benefit through January 2021 in the $3 trillion relief package they approved. However, the bill was opposed in the Senate. As of now, it is looking unlikely that an extension of the bonus will be passed before it’s end in July. Support from the general public regarding an extension of the bonus unemployment benefit is not strong, as a survey found that only 37% of U.S. adults support it.
What Pandemic Unemployment Assistance Provisions Will Stay?
While the additional $600 is expected to expire at the end of July, there are other provisions that will stay through the end of the year. This includes the expansion of individuals who are eligible for UI, such as part-timers and independent contractors, and the extension to 39 weeks of benefits for individuals who are added to the unemployment rolls before the year ends.
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