New York :
Many Americans are looking forward to a second round of stimulus checks.
Photo: William Thomas Cain / .
The White House offered an economic plan valued at $ 916,000 million that includes $ 600 stimulus checks for individuals.
Additionally, the main spokesman for outgoing President Donald Trump in the negotiations, the Secretary of the Treasury Department, Steven Mnuchin, said by Twitter that the measure includes money for state and local governments as well as protection for businesses, schools and universities against lawsuits related to the management of the coronavirus.
– Steven Mnuchin (@ stevenmnuchin1) December 8, 2020
The above issues are a roadblock between Democrats and Republicans, as the former have insisted on more funding for the boundaries while the latter focus on provisions against lawsuits.
Democrats have scrapped the plan’s provisions from the Donald Trump administration.
Instead, they endorse the bipartisan Senate draft of $ 908 billion that is expected to pass soon.
The figure is midway between the latter of the Democrats, who control the House of Representatives, of $ 2.4 trillion and that of the Republicans, who control the Senate, of about $ 500,000 million.
Although Democrats like the House Majority Leader Nancy Pelosi and Senator Chuck Schumer have not expressed themselves directly on the content of the White House proposal, one of the issues that stands out most in the reports is that the plan does not include additional funds for unemployment. Even though the stimulus check proposed by the current Administration is double the amount provided for unemployment in bipartisan legislation, the issue of benefits for those who do not have a job remains a divisive issue.
This issue is key for millions of Americans who, as of December 26, will be left without the extra aid approved under the CARES lawspecifically, “Pandemic Emergency Unemployment Compensation” (PEUC) and Extended Benefits (EB).
The bipartisan plan before the consideration of Congress provides for funds for this concept since it extends weekly payments to $ 300 for four months.
853,000 filed for unemployment last week
Additional pressure persists on the shoulders of congressmen due to unemployment figures.
Unemployment benefits claims rose to 853,000 last week compared to 716,000 the previous week.
This amid a rebound in cases of the COVID-19 in the US it is not in sight that it will drop soon. According to the report this Thursday from the Department of Labor, it is the first time since the last week of September that the number of people requesting assistance exceeded 850,000.
The above shows the persisting weakness in the US labor market affected by the pandemic.