Title: New Proposal Would Extend $600 Unemployment Benefit Indefinitely Until Coronavirus Crisis Ends
Headings: New Proposal Would Extend $600 Unemployment Benefit Indefinitely Until Coronavirus Crisis Ends
New Proposal Would Extend $600 Unemployment Benefit Indefinitely Until Coronavirus Crisis Ends
Worker Relief and Security Act Provisions:
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Support For The Proposal:
Chances Of Passing:
Further Coronavirus-Related Reading:

Content: By automatically tying the duration of benefits to data-driven parameters and specific events, like the end of the emergency declaration, the proposal would extend relief for millions of Americans until the economy recovers. Moreover, by h arnessing automation principles from behavioral economics, it would remove the burden from Congress of needing to pass piece-meal extensions and set a default of continuing to provide aid. Former Federal Reserve Chair Janet Yellen issued a statement supporting The Worker Relief and ... [+]
Security Act
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“An unthinkable 30 million American workers have already been displaced by the pandemic and the count continues to rise. They need relief and support for as long as the job market remains weak,” said Janet Yellen, the former Chair of the Federal Reserve. “ That’s not only fair. It’s essential to support an economic recovery. The Worker Relief and Security Act is important because it guarantees that the CARES Act’s critical unemployment benefits will remain in place for however long they’re needed,” she added. Chances Of Passing: Democrats and other proponents argued in March that the enhanced unemployment benefits were needed to help enforce stay-at-home orders and social distancing and buffer against job losses; however, opponents have noted the perverse incentives that the magnitude of benefits could create, with individuals potentially getting paid more for staying home rather than returning to work, which could harm the speed of recovery.