President Joe Biden asked the House Of Congress unemployment benefits to run till the end of September. The services would have weekly $400 pays to unemployed people of the United States. But the house only granted him for 5 months, one less than Biden’s bid. This benefit is on the verge of expiring by mid-March. This is if Congress does not pass out a stimulus pack as early as possible. If they do not, it will put over 11.4 million citizens of America at the risk of not getting their aid that has been long needed.
Joe Biden cited the incredibly high rate of unemployment that hiked during the pandemic and mentioned the need for these unemployment benefits to make sure that millions of Americans would not deal with urgent aid. In the pandemic relief bill, the House Democrats included multiemployer pensions funds. Hence, there was only left to provide with Biden’s request till the final days of August, a little less than Biden’s bargain. Richard Neal, the Committee Chairman, said that the work they had all done was “substantial.” He also added that this was what the American people were hoping for them to meet.
Biden’s Request For Longer Unemployment Benefits Was Denied
Several lawmakers, as well as experts, have expressed concern over the cut of one month of unemployed benefits. People noted that the rise in premium rates to multiemployer pensions is taking the money away from the much-needed unemployment benefits. The reason it cannot fulfill Biden’s 6-month request is because of its capital of 940 billion dollars from 1.9 trillion dollars if a pandemic package. The Budget and Policy Centers reacted by saying that cutting off these benefits earlier— even for a month would be insufficient. He cited that by August’s end, Congress does not remain in session. Hence, it may lead to a lapse in the benefits.
Marc Goldwein, the head of policy, said that it would make more sense to stretch the unemployment benefits by the year’s end. He said that it would then lead to a legislative issue as well as an economic issue.