Guiding your life’s biggest financial moments

Personal Finance

$ 300 weekly unemployment benefits included in the stimulus bill

Kiplinger logo

In addition to a $ 600 stimulus check, the 5,600-page stimulus bill President Trump signed on Dec. 27 offers broad temporary relief to the unemployed.

“This legislation should help prevent a substantial number of people from falling off a financial cliff in the days and weeks to come,” said Mark Hamrick, senior economic analyst at Bankrate.com. Half of households have experienced a drop in income this year, and among them, 51% believe it will take six months or more to recover, according to a recent BankRate survey.

The stimulus bill provides an additional $ 300 per week for those who qualify for UI in their state. This number is added to the total you receive from your state.

Anyone who is entitled to regular unemployment benefits will also be entitled to extended unemployment benefits. In most states, that means you must be unemployed through no fault of your own. But if you are not entitled to unemployment benefits in your state, you may still be eligible for extended pandemic unemployment assistance from the federal government.

The bill also extends pandemic unemployment assistance, which provides benefits to people who are generally not eligible for unemployment, including the self-employed and concert workers.

Payments will run until March 14, 2021, but you may be able to continue receiving checks until April 5, 2021, if you haven’t used the maximum number of weeks you have available. The new legislation also increases the number of weeks of benefits a person can claim from 39 to 50.

(Stay on top of all new Stimulus Bill developments – Sign up for the Kiplinger Today newsletter. It’s free!)

You may also like...

Leave a Reply