Second Stimulus Check: Every Unemployment Program to Know About

Stephen Andrew

12/27/2020 09:15 pm EST

After reports broke Sunday night that Donald Trump would sign a new relief bill into law, Americans across the U.S. had five unemployment programs set to expire later this week. However, that has changed now as a new $900 billion stimulus and economic relief package will work to prolong unemployment benefits for millions of Americans in need.

But as President-elect Joe Biden is inaugurated this January as the 46th president, many are refocusing on the ongoing coronavirus pandemic and the financial challenges it has brought. The first stimulus bill, the CARES ACT, provided direct stimulus payments and unemployment support for a period of time. Still, most of the assistance has either already run out or is going to run out — eventually.

In May, the Democrat-controlled House of Representatives wrote and passed the HEROES act, which the Republican-controlled Senate was averse to due to its price tag. The Senate then drafted its own bill, the HEALS Act, which Democrat leaders felt did not provide enough financial support to American citizens. The White House engaged in negotiations as well, but again, no resolution was reached. That is until Sunday night, when Trump's new measure provides unemployment pay for Americans whose extended benefits expired Dec. 26. Scroll down to read more about the programs, as first reported by CNET.

Enhanced Unemployment Benefits (13 Weeks)

Each state is responsible for managing its own unemployment insurance claims, which includes determining if a person is eligible for benefits, as well as how much they can receive and how long they are eligible to collect. Even though the timeframe varies from state to state, the CARES Act provided an extension of those benefits from 26 weeks to 39 weeks. That additional 13 weeks of benefits was initially up on Jan 1. Notably, some states have chosen to increase the length on their own, but others — such as Alabama, Arkansas and Utah — have taken no action, which may lead to unemployed citizens with no assistance.

The Pandemic Unemployment Assistance program

The Pandemic Unemployment Assistance program, also known as PUA, is another initiative that was organized through the CARES Act. The PUA has provided financial-related assistance to individuals who normally might not qualify for unemployment. This includes self-employed workers, contractors and gig workers. The PUA was set to end Dec. 31, but it is unclear now when the next deadline is.

$300 Unemployment Benefits

The CARES Act provided an extra $600 worth of unemployment money per week, but when that expired on July 31 President Trump signed an executive order to have the federally provided benefit continue. However, the amount decreased to $300. The hope, at the time, was that Congress would soon approve and pass a new bill. This has not yet happened.

Eviction Protection

Another important element of the CARES Act is protections from evictions for renters and homes backed by federal mortgage loans. These protections were previously extended, in September, by the Centers for Disease Control and Prevention. The department called for a halt on evictions for failure to pay rent, so as to help better contain the spread of COVID-19. This provision will expire at the end of December and affects 43 million households.

Student Loan Deferrals

Finally, the last stimulus program that was supposed to end on Jan. 1 is student loan deferrals. The CARES Act provided an option for recipients of student loans to pause their payments without them accruing any interest. That ended in September, but Trump extended it until the end of the year. Beginning Jan. 1, loan servicers would have been allowed to start charging interest again, but that has now changed. Details on the next deadline to follow.

The New Stimulus Bill

According to CNN, Donald Trump signed a massive $2.3 trillion dollar coronavirus relief and government funding bill into law on Sunday night as a means to avoid another government shutdown set to kick in on Tuesday. Additionally, the bill will work to stretch billions of dollars in coronavirus aid to millions across the country and extend "unemployment benefits for millions of jobless gig-workers and independent contractors, as well as the long-term unemployed."

Biden's Stimulus Proposal

While there is no way of knowing what more may happen before President-elect Joe Biden is sworn in on Jan. 20, the incoming administration does have a stimulus plan mostly laid out. At this time, we know that it will include another round of stimulus checks, though there is no word on what the amount may be. It is also reported that unemployment benefits will be reinstated, and student loan debt forgiveness may happen.

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