Millions will lose unemployment boost after McConnell says no stimulus deal in sight
Unemployment insurance supplements from the federal government will likely be cut off from tens of millions of Americans next week after Senate Majority Leader Mitch McConnell said he did not expect lawmakers to reach a deal on the next stimulus package in time.
McConnell laughed when a reporter asked him Tuesday whether he expected another economic relief bill to be approved by the end of next week.
“No,” the Kentucky Republican responded.
The federal $600 weekly unemployment bonus that is set to expire this weekend will mean jobless recipients will only receive state benefits that average around $370 per week. Many will see their total benefits cut in more than half starting next week rather than the end of the month because of the way the CARES Act was written and due to how jobless benefits are distributed.
continue reading »