Title: $600 Federal Unemployment Checks To Be Extended?
Headings: $600 Federal Unemployment Checks To Be Extended?
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Content: That raises the all-important question: what happens when federal unemployment checks stop going out? The Case Against Extending Federal Unemployment Benefits
Despite the lack of action to extend federal unemployment benefits beyond the July 31 deadline, lawmakers are already taking up sides. And while there are compelling arguments in favor of an extension – even a significant one – there are concerns the program may have overshot the mark. One of the arguments against extending federal unemployment benefits is that they’ve been too generous. So much so that they may be acting as a disincentive for people to return to work. The argument is not without merit. According to a working paper from the Becker Friedman Institute for Economics at the University of Chicago completed in May, two thirds of unemployment insurance eligible workers may be receiving benefits that exceed their regular earnings. That includes 20% earning twice their regular pay. That’s not hard to imagine considering that according to the Federal Reserve, an estimated 40% of those currently on unemployment normally earn less than $40,000 per year.