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Republicans propose to cut unemployment benefits

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The plan to support the economy, agreed by the White House with the Republicans in the US Congress, envisages a threefold reduction in federal unemployment premiums, the Washington Post reported, citing the draft law being prepared.

According to it, the co-payments are planned to be reduced from $600 per week to $200 per week. According to the $1 trillion support plan, unemployment benefits should not exceed 70% of the salary.

The plan can be adopted only with the consent of the Democrats in Congress, who have already made it clear that they consider it necessary to extend the additional payments in full.

Congress has already allocated about $3 trillion to support the economy during the coronavirus epidemic. Until August, millions of unemployed people, in addition to payments from the states, receive a federal bonus of $600 a week. However, many businesses and economists said this would make it harder for workers to return to their jobs, as many began to receive unemployment benefits in excess of their earnings.

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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