Republicans are considering the idea of extending the enhanced unemployment insurance benefit, albeit at a dramatically reduced level of $400 per month, through the rest of 2020, CNBC reported Wednesday afternoon.
Back in March, as the coronavirus pandemic was causing a massive surge in unemployment due to a broad economic shutdown, Congress passed a $600-per-week ($2,400 a month) benefit enhancement in jobless benefits.
The policy expires at the end of July. And unemployment remains staggeringly high, above 11%, despite recent improvements in job growth.
As reported by CNBC, the GOP has not made a final decision on how it will craft unemployment insurance in a bill set to be released this week. There have been discussions centering on a $200-a-week proposal, which is far from what Democrats have proposed. They have called for the $600 weekly enhancement to be available at least into 2021.
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