In response to the COVID-19 pandemic, Congress passed the CARES Act on March 27, 2020. Along with many other benefits, this economic relief package provided a $600 weekly federal unemployment benefit to many Americans who were jobless as a result of the pandemic.
Although this economic relief package delivered on the commitment to protect Americans from the economic impacts of COVID-19 for nearly four months, as of July 31, 2020, more than 30 million Americans saw their benefits come to an end.
It is important to note, that while government support has ended for the time being, many businesses are reopening or ramping up production. The need for workers to rejoin the workforce is being felt across the nation and employers are starting to provide alternative benefits to encourage people to come back to work.
In recent weeks, Democrat and Republican leaders have been negotiating a new bill to continue helping American’s through the ongoing financial hardships brought on by the coronavirus crisis. Despite their efforts, neither party can seem to reach an agreement and have both proposed two very different bills. If you’re someone who’s depending on a new relief package, here are three things to know.