Connect with us

Politics

HEROES Act could increase unemployment stimulus benefits, add return to work bonus

(POLITICS) Because of the pandemic many peoples lives took a step back, by loosing their job. New unemployment benefits encourage you back to work.

Published

on

unemployment benefits

If you’re a citizen who has been laid off due to Coronavirus and filed for unemployment in the meantime, you may find yourself receiving a “back-to-work” incentive once you return.

According to the HEROES Act, workers who received unemployment benefits would receive $450 per week upon returning to work–this, of course, in addition to their take-home pay–rather than receiving the $600 per week that complements whatever their unemployment benefits amount to.

While the HEROES Act also proposes extending the current bonus of $600 per week for those receiving unemployment into 2021, some argue that this would incentivize remaining on unemployment checks rather than stimulating the economy–hence the $450 weekly bonus for returning to work when possible.

These fears aren’t without support. As Newsweek points out, the American Action Forum shows that “about 63 percent of Americans who are out of work as a result of the pandemic earn more with the enhanced unemployment benefits than they do from their normal wages”–a somewhat comforting statistic that still evokes relative unease when one considers the ramifications of attempting to reopen a reluctant country.

While it is unreasonable to assume that all 63 percent of those people would elect to remain on unemployment benefits rather than going back to work, the $450 bonus may ensure that all of these workers do, in fact, return in a timely manner.

Some may argue that Americans don’t (or shouldn’t) need an incentive to return to work and begin cranking the cogs of the economy once we’re in the clear, but such opinions are fairly short-sighted and largely dismissive of the economic strife many Americans face, especially in poorer regions.

Additionally, many workers will be required to take pay cuts upon rejoining the workforce, which makes the additional $450 per week much more attractive without eliciting criticism of American motivations and values.

As of this writing, Newsweek reports that the White House is “very carefully” considering the HEROES Act–a process that, given the proposed bill of $3 trillion, will take some time. It’s a colossal proposition that covers everything from the aforementioned weekly bonuses to a second round of stimulus checks, and even a form of student loan forgiveness, so keep your eye on this one.

Jack Lloyd has a BA in Creative Writing from Forest Grove's Pacific University; he spends his writing days using his degree to pursue semicolons, freelance writing and editing, oxford commas, and enough coffee to kill a bear. His infatuation with rain is matched only by his dry sense of humor.

Continue Reading
Advertisement
10 Comments

10 Comments

  1. Pingback: HEROES Act could increase unemployment stimulus benefits, add return to work bonus | Online Wealth

  2. Mark Brown

    June 17, 2020 at 5:47 am

    Here’s what people don’t understand is that unemployment has the right to ask employers for a list of names of people that where asked to come back to work. If they are on unemployment they CANNOT say no cause then they would lose there unemployment.

  3. lisa travers

    June 17, 2020 at 12:11 pm

    This is really unfair to ty he essential workers who have been working since this Corona virus has started and there only getting an extra $2, an hour extra…they need compensation for working and risking there families and there own lives threw this ….pay every essential worker more …not fair at all….

  4. Pingback: A closer look at the HEROES act, and who stands to benefit the most

  5. james blackwell

    June 17, 2020 at 2:46 pm

    I worked the whole time what about the people that keep their jobs

  6. Linda Rexroat

    June 19, 2020 at 12:03 pm

    And at the end of the year when you file taxes and you owe the federal government are going to take it all

  7. Pingback: The White House pushes for $450 per week return to work bonus

  8. Pingback: Texas overpaid unemployed residents by millions and now wants it all back

  9. Pingback: Uh oh! Your stimulus payment might have been on a suspicious looking debit card

  10. Pingback: The second stimulus check may be on its way...to some - The American Genius

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

The House Judiciary antitrust investigation holds big techs’ feet to the fire

(POLITICS) CEOs of Alphabet, Facebook, Apple, and Amazon set to testify in House Judiciary Committee antitrust investigation hearing today.

Published

on

house investigation

The House Judiciary Committee is closing in on the end of a year-long investigation into tech giants Google, Facebook, Apple, and Amazon, to evaluate possible antitrust abuses. CEOs from all four companies were set to testify on Monday, July 27, 2020. The hearing has been pushed back to Wednesday, July 29, to allow members of Congress to pay respects to civil rights leader Representative John Lewis (D-GA) who died of pancreatic cancer on July 17.

Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook, and Sundar Pichai of Alphabet (Google’s parent company) have all agreed to testify. This will be Bezos’ first time in front of Congress, whereas all the others have testified before on different matters. Twitter CEO Jack Dorsey was invited to testify by Representative Jim Jordan (R-OH), but is expected to not attend.

The Antitrust Subcommittee began the investigation in June 2019. Each business has been the subject of scrutiny for their roles in dominating their respective industries and playing an outsized role in market competition for smaller businesses. The Committee is interested in evaluating current antitrust laws and whether they apply to, or should be updated for, these mega corporations. They have already heard testimonies from smaller companies like Sonos and Tile about these companies’ alleged monopolistic practices.

The focus of the investigation for Apple is on the App Store, and whether it has implemented policies that are harmful for app developers. Google has a tight hold on the online advertising market. Amazon – which during a five-week period early in the pandemic saw an increase in value equivalent to the total value of Walmart, the world’s largest firm – has been criticized for its treatment of brands that sell on its e-commerce platform. Facebook is being investigated for its acquisition practices, cornering the social media market with purchases like Instagram.

Amazon is expected to face additional scrutiny for its treatment of warehouse workers during the pandemic. Facebook and YouTube (a subsidiary of Google) have been the subject of regular criticism about monitoring hate speech on their platforms, and their treatment of the workers responsible for doing so (Facebook in particular).

The hearing is set to occur virtually in order to adhere to social distancing guidelines. Watch the hearing live at 12:00 p.m. EST Wednesday, July 29 on the House Judiciary Committee’s YouTube channel. Please do note the hilarious irony of streaming a Congressional antitrust hearing on YouTube, which is owned by Google, which is owned by Alphabet, which is testifying at said hearing. God Bless America.

Continue Reading

Politics

Additional unemployment benefits outside of the CARES Act

(POLITICS) Unemployment is at an all time high in the United States and individuals need to be aware of reapplying for additional benefits.

Published

on

unemployment broke

June saw some additional jobs in the US and unemployment fell as of early July, but CNBC advised pausing on any celebration just yet, saying that “The employment crisis is still worse than any time since the Great Depression, the country’s worst economic downturn in its industrial history.”

The unemployment statistics in our country right now are really scary – especially for individuals and families that see a looming deadline of July 31 for the supplemental $600/week provided by the Federal Government through the CARES Act put in place in March. There are discussions on extending these benefits as many families have not been able to replace their incomes or find new employment opportunities, but it doesn’t seem like anything has been finalized there yet. Congress is in the middle of a variety of options:

  • Discontinue the additional $600/week but allow those on unemployment to continue to file and receive their state benefits (usually up to 26 weeks or possibly extended up to 39 weeks by The CARES act)
  • Send out additional stimulus checks (Congress is currently exploring a $X Trillion stimulus package)
  • Extend the additional funding (on top of the weekly amount allotted by state) but cut it from $600 to $200
  • It’s also been put on the table in the House of Representatives “The Heroes Act” to extend the additional $600/week until January 2021 ($3 trillion).

There are some additional benefits that are available (different than the funds by the CARES Act), but you may have to reapply for them. So, make sure to check your state’s unemployment pages and your filing status. Some states do not require you to reapply and you can continue on with extended benefits.

According to CNBC, “The additional aid expires after the end of the year. (This is a different program than the one paying an extra $600 a week through July 31.) For some reason, the [Department of Labor] has taken the position that people have to file for the additional PEUC benefits,” said Michele Evermore, a senior policy analyst at the National Employment Law Project.”

No doubt that this can cause additional stress and uncertainty especially when you have questions about your filing and are unable to get through to someone on the phone. With the way that the unemployment cycle is setup, technically July 25 is considered the last date for that cycle (and July 26 for New York), so be sure to check and see what the next steps are for you if you are currently filing.

Continue Reading

Politics

How will pausing the reopening of states impact the recovery of the economy?

(POLITICS) The resurgence of COVID-19 has left Americans with a lot of questions about our nation’s economic future. That ambiguity is seemingly a feature, not a bug.

Published

on

COVID-19 reopening economy

The rest of the world watched as the United States dramatically reopened “the economy” last month. Now, it seems we’ve changed our minds about that.

The White House has repeatedly said that it will be up to individual states to form their own pandemic response plans moving forward. But letting local governments devise their own solutions has produced large gaps in their preparedness, as well as profound confusion around the best practices for balancing the country’s public and economic health.

California, which represents the largest economy in the US and the fifth largest in the world, was one of the first states to put serious quarantine restrictions in place. The decision to relax those orders only came after anti-lockdown protestors demanded that Governor Gavin Newsom reopen the state’s beaches, businesses and churches. Newsom may now regret this capitulation as California just called for a second round of statewide lockdowns.

Other state legislators are slowly following their lead, as the threat is becoming very dire in some places. Florida, for instance, is now a global hotspot for COVID-19 and Miami is being called “the new Wuhan”. The state is also currently struggling against another wave of unemployment, partly because their economy is heavily dependent on summer tourism (which has persisted despite the spike in cases, but not nearly at pre-pandemic levels).

Florida, California and Texas are altogether responsible for 20 percent of all new COVID-19 cases globally.

Every state is fighting two battles here. Coronavirus relief efforts in the US are still seriously underfunded, and most health organizations here lack the resources to effectively test and treat their communities. But the problems that have emerged for workers and small business owners, like evictions and layoffs, have also been devastating in their own right.

In essence, the United States reopened in an effort to curb the nation’s financial freefall and ballooning unemployment. Economists predicted at the beginning of July that reopening would allow the US to avoid a recession, and all would go smoothly. These projections likely did not account for a spike in cases that would halt this economic rebound.

That’s not to say the circumstances here haven’t improved at all over the past months; currently there is no acute shortage of ventilators, and doctors have had some time to refine their strategies for treating the virus. Overall, the national unemployment rate is slightly declining, while working from home is going so well for companies like Twitter and Facebook that they will be permanently switching much of their staff to remote work.

By comparison, though, New Zealand took the pandemic much more seriously than the US did, and they are objectively in a better position now in all respects. Prime Minister Jacinda Ardern cracked down hard and early, closing the country’s borders completely, and instituting rent freezes nationwide. As a result they have virtually eradicated COVID-19 within their borders. A report from S&P Global also expects New Zealand’s economy to recover quickly compared to the rest of the world.

While this tradeoff seems like a zero sum game – as if we have to pick either our health, or our wealth – it is not. In fact, we could very well end up with neither if our lawmakers don’t proceed with caution.

Continue Reading

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!