UNEMPLOYED people affected by coronavirus layoffs could be receiving an additional $2,400 per month in economic relief aid from the government.
The extra money is called Pandemic Unemployment Assistance and it’s part of the CARES Act, the historic $2.2trillion stimulus package passed by Congress in March.
As explained by Forbes, benefits provide an additional $600 week, or $2,400 for a four-week month, through two programs.
The first program, Federal Pandemic Unemployment Compensation (FPUC) is effective from March 29 to July 31 and provides $600 on top of weekly state benefits.
People would receive up to an additional $10,800 of benefits under FPUC throughout this period.
The second program is called the Pandemic Emergency Unemployment Compensation (PEUC) and is effective from March 29 until December 31.
PEUC offers another 13 weeks to the unemployment benefits offered in particular states, and amounts to the same as state unemployment weekly benefit rates.
People would receive the aid after regular state and federal benefits ran out, or if you’re not currently eligible for that aid.
Each state has different rules, so click on this link to find out if you are eligible.
As of last week, the Department of Labor reported more than 36million people in the US have filed for unemployment amid the pandemic.
The latest figures mean that the virus has forced roughly 23 percent of American workers to be sidelined.
Roughly 140 million Americans got a cash injection totaling over $239billion by direct deposit and by check if the Internal Revenue Service (IRS) had their payment information from previous tax returns, but many others are still waiting.
The Treasury Department announced on Monday they would be sending out the remaining stimulus package money on debit cards.
“Prepaid debit cards are secure, easy to use, and allow us to deliver Americans their money quickly,” Secretary Steve Mnuchin said.
Also on Monday, it was announced that the White House is looking into offering $5,000 pandemic stimulus checks in exchange for a delay in Social Security benefits.
The policy proposal — called the “Eagle Plan” — would allow workers to take some Social Security benefits early and have future payments reduced.
Senior economic officials at the White House are researching a conservative scholar-backed stimulus measure, according to The Washington Post.
Backed by the American Enterprise Institute and Hoover Institution and written by Andrew Biggs and Joshua Rauh, the 29-page plan calls for an overhaul of federal retirement programs.
The overhaul would be in exchange for direct cash payments to some workers, the Post reported.
The White House has reportedly already rejected the plan discussed by the senior administration officials.
“President Trump has been clear that while he is in office, the American people can feel secure without a shadow of a doubt that he will completely protect Social Security and Medicare — end of story, full stop,” a spokesperson told the Post.
