Millions to lose monthly unemployment checks lawmakers elect to not renew Cares Act payments
$300 monthly payment benefits will no longer be distributed
GRAND JUNCTION, Colo. (KKCO) -Lawmakers in Washington, D.C have elected to not renew the federal Cares Act which supplied $300 in monthly payments for those seeking unemployment during the pandemic.
Close to 9 million people have been receiving federal aid benefits as part of the Cares Act since it was approved in March 2020. The program was renewed in December 2020, then again in March 2021. These monthly payments end today.
But there are concerns from some economists who say the job market hasn’t sufficiently recovered, thanks in part to the Delta variant and further say that cutting these monthly benefits could lead to an uneven job recovery. While other economists say the program should end now, arguing that the added benefits inadvertently create an incentive for people to stay home instead of finding work.
The Biden administration says individual states can choose to extend those benefits through existing federal funds, but further said the U.S economy is strong enough as it is, to withstand evictions, or a potential drop in unemployment.
Other benefits of pandemic existence, such as rental aid and the expanded Child Tax Credit are still implemented and people can utilize those benefits.
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