Details of the next stimulus bill could come Monday.
Sen. Chuck Schumer wants to see $600 a week federal unemployment insurance extended until Jan. 31, 2021, but he said that so far Senate Democrats have had no input on what the future of federal unemployment will look like, which is expected to be revealed when Senate Majority Leader Mitch McConnell introduces a bill for the next stimulus package this week.news conference at the U.S. Capitol on July 22, 2020 in Washington, DC.
Federal unemployment insurance, which is paid on top of state unemployment payments, looks likely to continue but will likely be far lower than the $600 a week the government has been paying out. Treasury Secretary Steve Mnuchin has said that future unemployment payments will be based on a “70% wage replacement” that could bring weekly payments down to possibly $200-$300 a week.McConnell so far has negotiated aspects of the upcoming package with fellow Republicans along with President Donald Trump and White House officials, but had not agreed to negotiate with Democrats, Schumer said, even though he sent a letter asking to meet with McConnell three weeks ago.
Democrats in the House of Representatives passed the $3 trillion HEROES Act that included $600 a week unemployment payments until Jan. 31, 2021, but Republicans in the Senate are not considering that bill.Democrats will have room for input when the Republicans officially propose their bill, but it’s unclear how much the GOP will budge on their proposal, which will also have to pass the Democratic-controlled House. Details of that proposal could come as soon as Monday.
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