Trump's extra unemployment could amount to $300 a week instead of $400, and you may not qualify
On top of questions about the legality of President Trump's Aug. 8 executive order extending extra federal unemployment benefits, recipients would have to collect at least $100 weekly in other unemployment insurance to qualify for the federal boost, which could end up being $300 a week due to how the benefits would be calculated.
Additionally, Trump's order called for states to chip in 25% ($100) of that $400. Based on the DOL memo reviewed by CNBC, states have two options to fund that share. They could count the first $100 they pay in weekly benefits to meet that requirement — which means the boost would amount to $300, not $400.
Alternatively, states could fund their share from either their own coffers or from funding they already have access to: The CARES Act, passed in late March, created a $150 billion coronavirus relief fund. However, much of the remaining money in that pot — $80 billion — already has been earmarked for ongoing costs by states even if it hasn't yet been spent, Evermore said.
For the federal government's $300-per-week share, Trump would use $44 billion from the government's $70 billion Disaster Relief Fund — which typically is deployed in the wake of weather disasters and the like. The money would be administered by the Federal Emergency Management Agency, or FEMA.
"How states could pay FEMA aid [to beneficiaries] through their unemployment insurance would be very difficult and take a lot of time," Evermore said.Eligibility for the extra federal benefits would be retroactive to the week that ended Aug. 1. The weekly increase would remain in place until Dec. 6 or the funding runs out, whichever happens first, according to the executive order.
The Committee for a Responsible Federal Budget estimates that the $44 billion would last five weeks.The federal boost also would not be automatic. States would need to request the assistance. They also would need to have a system in place to deliver the money, which is no simple task, Evermore said.
"It's incredibly complicated," Evermore said. "I'm really not sure how any of this would work within the framework of how states pay out benefits." Read more: CNBC »
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Trump is a sham. Once again, the biased, liberal arm of CNBC is allowed to spew out a misleading headline. Are there any more adults at CNBC ? You’re not reporting the news, you’re trying to shape it. Please stop. Wall Street's greed and disregard for the principles of our democracy created this. America is dying. Congrats.
Always the negative! And it’s $300 more than the Democrats were willing to negotiate to give to Americans in need! Secretary Mnuchin, I had believed in you back in April when you were all for people, the unemployed mostly, and did great things ! However, now instead of being positive you now are defensive about everything! Come on, do the right thing !
Extending Federal Assistance as is would be the fastest, easiest and less expensive way of helping unemployment and other timed out measures. By the time States figure out the change and infatuate them, people will be in big financial trouble! Re-open America , there is no more pandemic , empty hospital , false infection ,fake death rate , it’s a hoax from Democrats to stop Trump re-election.
FakeNews I commend the effort but it doesn’t seem as though this is actually going to happen.....we need congress to come back from vacation and do their jobs....I bet if they weren’t getting paid they would make a deal today! let's wait for the democrats to discuss it maybe by next decade they'll reach a conclusion. meanwhile, SpeakerPelosi can enjoy eating ice-cream from her $42,000 freezers
Well Dems need to get their heads out of their asses and vote for new unemployment It’s hilariously ironic how Trump supporters will praise him for his unconstitutional executive orders when not to long ago, both him and his supporters were criticizing Obama for the same reasons... 🤔 Maybe Joe Biden could offer Blacks less, since he is trending towards offending blacks.
So it's safe to say these states think extra unemployment benefits disincentivizes people to look for employment. Dems, do not work with the White House....let dopey don and his dwarfs flounder in their own mess. Thank you for being positive. The Democrats proposed nothing, that would be 0 dollars a week. So $300 dollars a week is awesome. Also the tax credit will be HUGE!
At least he’s trying something unlike democrats! Typical Trump. It's all about branding; no substantive meaningful action. no problem , banks , black rock want indices very up , this week maximus Is that better than $0.00? It’s time to stop bailing out the airlines. Unconstitutional Trump Executive Orders
Wahhh. 300 isn’t 400, and 400 isn’t 600. Wahhh. They should feel lucky enough to be getting anything extra. The compliant media never disappoints. Were these the DNC talking points from this morning? lol cant they get it together? $400 versus $600 is splitting atoms. Fighting over crumbs. cant they get it together? $400 versus $600 is splitting atoms. Fighting over crumbs.
And Democrats are doing nothing Dictator Newsom destroyed millions of businesses and lives Fake news
Jobless may only see $300 federal boost under new Labor Department guidanceStates can count their existing payments toward their $100 match of unemployment benefits under the plan announced by President Donald Trump on Saturday, according to a Department of Labor guidance obtained by CNN. They deserve less. Pelosi claps, Trump acts. Right but today was filing day and we got nothing
President Donald Trump Signs $400 Unemployment Stimulus Extensions TodayPresident Donald Trump , who said he would wait until Friday to take executive action on additional stimulus measures, has moved up his timetable, and said he will sign the orders immediately. &822… Bedminster All of these actions are illegal. Power of the purse resides with Congress.
$600 Weekly Unemployment Check Cut To $400 Under Trump Executive Orders—And MoreCongressional negotiations for another coronavirus relief bill broke down this week. He can’t do anything without Congress. And possibly $300 as $100 is left up to states to cover
Trump signs measure to provide extra $400 in weekly unemployment benefitsTrump made the announcement as protracted negotiations between the White House and congressional Democrats have been unsuccessful in extending the benefits originally offered through the CARES Act. $400 is one night at a Sofitel. Extra? He cut it. Executive suggestions
Trump Authorizes Extending Special Unemployment Benefit at $400 a WeekPresident Trump signed executive actions aimed at providing coronavirus aid, including one that authorizes $400 a week in additional unemployment benefits, with the federal government providing 75% of those funds. Oh hi there. It's good to be back! He’s a great value dictator youre late NPR got to it 1st
Trump order could mean $400 in added unemployment benefits — but states would have to helpWill the order hold up in court? Heck Here in Georgia we are still fighting to get our unemployment for months now. For me its been 4 months Even though Congress is responsible for the budget, how will the Republicans pay for this?