On Saturday, the #POTUS issued an executive order regarding #Unemployment#Benefits. Some critical points taken away from this decision are as follows:
Key Points:
- Trump has signed an executive order extending enhanced unemployment benefits through the end of the year that will pay out-of-work Americans $400 per week on top of their state unemployment benefits
- Under the President’s memorandum, the $600-a-week payments will be reduced to $400, with state governments expected to contribute $100 toward the enhanced benefit
- Under the new executive order, money for the unemployment wage supplement will be derived from multiple existing sources
- 75% of the funds, up to $25 billion will come from the Department of Homeland Security’s Disaster Relief Fund, either until the money runs out or Dec. ^ (whichever comes first)
- 25% of the funds, or $100, are expected to come from as-yet-unused state funds, including an estimated $80 billion remaining from an initial $150 billion in state assistance to combat coronavirus-related issues. The order also calls on states to “identify funds to be spent.”
- Should the Disaster Relief fund get depleted
- This was one of four executive orders the president signed after lawmakers failed to reach an agreement last week on a second stimulus plan
- Democrats have argued weekly federal unemployment benefits should remain $600, while Republicans have sought to cut the supplements to as little as $200 per week
