Saturday, April 10, 2021

Some American households may have received $60-70,000 in pandemic relief

 Who would consider going back to work?  In some states the figure is as high as $100,000.

The unemployment insurance benefits paired existing state-level weekly aid with a federal payment ranging from $600/week under the CARES Act to $300 per week under the American Rescue Plan Act. The aid was also extended to workers who usually do not qualify for unemployment benefits, including gig economy workers and independent contractors. Unemployed workers could continue to claim unemployment insurance benefits past the usual 26-week window during the pandemic.

Take, for example, a married household with two young children living in Georgia with a single earner who made $60,000 in 2019. Imagine the single earner lost her job on April 1, 2020 due to the coronavirus pandemic. Prior to the pandemic, the family would have been eligible for $365 per week from the state of Georgia in unemployment benefits up to 26 weeks and $4,000 in Child Tax Credit, for a total of $13,490.

Read further: https://taxfoundation.org/total-covid-relief-unemployment-insurance/?


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