The reduction People might lose if Trump vets the stimulus package deal
Millions of struggling Americans will be spending the vacation this year without knowing where their next paycheck is coming from. And now that President Donald Trump was against the legislature-agreed stimulus package at the last minute, they won’t know if they can expect more unemployment benefits, another economic review, and no evictions from their homes.
Just a few days ago, relief seemed to be on the way.
After months of messy negotiations and economic troubles caused by the pandemic, lawmakers finally struck a deal on a $ 900 billion stimulus package that extends unemployment benefits by eleven weeks, with direct payments of $ 600 for many Americans – Send dollars and the national eviction ban would continue for another month.
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But President Donald Trump shocked Washington earlier this week when he called the package a “disgrace” and said the “next administration will have to deliver a Covid bailout” if Congress doesn’t make substantial changes to the bill. One of Trump’s main requests – to triple direct payments to Americans from the agreed $ 600 to $ 2,000 – was shot down by the House Republicans on Thursday.
Now the fate of the entire aid package is uncertain.
These are some of the key bailouts Americans would lose if the stimulus plan were not passed.
The $ 900 billion stimulus package agreed by lawmakers included an additional $ 120 billion in unemployment benefits.
Unemployed Americans would extend their benefits for 11 weeks and receive a $ 300 weekly allowance. Some self-employed and gig workers were getting an additional $ 100 a week.
There are currently more than 20 million people on unemployment benefits in the United States, according to the Department of Labor.
If the stimulus package does not materialize, at least 10 million of these unemployed will cut their benefits in just a few days.
If the stimulus package is not passed, Americans would also not see the $ 600 direct payments that lawmakers added to the bill. (The checks would go to adults and children.)
Individuals with adjusted gross income up to $ 75,000 would receive full payment, as would married couples earning up to $ 150,000. For payments with an income above this level, the payments expire gradually.
Treasury Secretary Steven Mnuchin told CNBC on Monday that Americans could get their stimulus checks as early as next week. This timeline seems increasingly unlikely.
Protection against eviction and rental support
The national eviction ban on the Centers for Disease Control and Prevention expires at the end of the month.
The coronavirus relief contract extended that moratorium to January and set up a $ 25 billion rental aid fund that people could use for arrears and ongoing rents.
More than 14 million Americans – or one in five adult renters – say they have defaulted on their housing benefit payments, according to the Center for Household and Political Priorities.
If the ban is not extended, millions of Americans could be evicted from their homes and apartments in one of the coldest months of the year and during a pandemic. Recent research has also found that evictions in one area lead to significantly more coronavirus cases and deaths.