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: New Proposal Would Extend $600 Unemployment Benefit Indefinitely Until Coronavirus Crisis Ends
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May 6, 2020,12:14pm EDT | 400,817 views
New Proposal Would Extend $600 Unemployment Benefit Indefinitely Until Coronavirus Crisis Ends
Shahar Ziv
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A new proposal, introduced by three Democratic lawmakers, seeks to extend expanded unemployment benefits for qualifying Americans and tie them to economic conditions and the duration of the current public health emergency. The Worker Relief and Security Act, introduced by Senators Michael Bennet and Jack Reed, along with Representative Don Beyer, aims to align relief with the span of the COVID-19 pandemic as opposed to allowing benefits to lapse after a fixed period of time. With over 30 million Americans having filed for unemployment benefits, economists are predicting that April’s employment report, which will be released on Friday, will show a unemployment rate above 16%. U nderscoring the severity the coronavirus lockdown has had on the U.S. economy, ADP reported this morning that companies hemorrhaged over 20 million jobs in April, the worst loss in the survey’s 18 year history. This data raises an important question: how long it will take the economy to bounce back? Projections from nonpartisan Congressional Budget Office (CBO) forecast the unemployment rate staying in double digits not only for the rest of 2020, but also through 2021. These predictions highlight a looming disconnect between the sluggish speed of recovery and the duration of unemployment benefits that were included in the $2 trillion CARES Act passed by Congress in March.