Title: When Does the $600 Weekly Unemployment Benefit Expire? | Heavy.com
Headings: COVID-19 Unemployment Benefits: When Does the Extra $600 a Week Expire?
COVID-19 Unemployment Benefits: When Does the Extra $600 a Week Expire?
The GOP & White House Have Indicated Lately That They Might Be Open to Extending the Benefit But May Support a Lower Amount
Majority Leader Mitch McConnell Has Predicted a Second Stimulus Package Will Happen

Content: According to The Post, Treasury Secretary Steven Mnuchin said on television that the administration wants to make sure that extended benefits wouldn’t exceed 100% of the worker’s past wages. However, that signaled the administration might be open to some extension. Trump’s economic advisor Larry Kudlow indicated the administration is open to unemployment “reforms,” The Post reported, adding that one compromise being floated would cut the extra $600 to between $200-$400 in addition to sending out a second stimulus check to some Americans. A spokesman for the White House told The Post that the president doesn’t support extending the full $600 but might be open to less. The University of Chicago article found that “68% of unemployed workers who are eligible for UI will receive benefits which exceed lost earnings. The median replacement rate is 134%, and one out of five eligible unemployed workers will receive benefits at least twice as large as their lost earnings. Thus, the CARES Act actually provides income expansion rather than replacement for most unemployed workers. We also show that there is sizable variation in the effects of the CARES Act across occupations and across states, with important distributional consequences. For example, the median retail worker who is laid-o can collect 142% of their prior wage in UI, while grocery workers are not receiving any automatic pay increases. Janitors working at businesses that remain open do not necessarily receive any hazard pay, while unemployed janitors who worked at businesses that shut down can collect 158% of their prior wages.”