Title: New proposal would pay unemployed Americans $1,200 back to work bonus
Headings: A new proposal would pay you a $1,200 bonus to go back to work
A new proposal would pay you a $1,200 bonus to go back to work
‘More money in the pockets of Jane and Joe Consumer’
‘It’s designed to help the people who are hurt the most’
People ‘ultimately want to go back to work’
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Content: Americans would be eligible until July 31, when extended unemployment benefits are set to expire. It “would allow workers to keep up to two weeks of unemployment benefits if they accept a job offer,” Brady said in a statement, adding, “This proposal is an important part in preventing a prolonged recession.” Those supporting the bill say it would help local businesses rebuild their workforce by turning unemployment benefits into a back-to-work bonus and help people “come off the unemployment ranks potentially sooner,” explains Merrihew. “In other words, if you get people back into the workforce, and America is back ‘online’ sooner, that could have a cascade effect, bringing back the economy faster,” he adds. Quarantine is a forced hibernation, and this bill is almost like coaxing consumers to get out of the den early. Lincoln Merrihew
Economist
The bill could “help Main Street get back to work,” says Merrihew, but it’s also about putting “more money in the pockets of Jane and Joe Consumer.” Ordinary Americans need to get comfortable spending again in order for the economy to fully rebound and, economists say, a cash infusion like this could help. More than 40 million people have filed for unemployment benefits since the pandemic began. Of those, nearly 70% of workers who are receiving enhanced unemployment benefits could actually be receiving more income than they were from their paychecks, according to an analysis from economists at the University of Chicago. The bill would also incentivize workers who may feel hesitant to return to their jobs for a variety of reasons, including “ health concerns, limited access to child care, and generous unemployment insurance benefits,” according to a recent Federal Reserve report.