unemployment update july 30 2020
July 30, 2020

Senate REJECTS HEROES Act and Republican Emergency UI Proposal

COVID-19

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Unemployment Update 7/30/2020

Any hopes of the supercharged unemployment being extended to some degree before the month are all but lost.

Don’t want to read? Watch the video!

Today Republican Senators Ron Johnson of Wisconsin and Mike Braun of Indiana attempted to pass a bill that would target an individual’s total, federal and state, weekly unemployment benefits to ⅔ of their previous wages with the federal kick-in capped at $500 per week.

If a state couldn’t implement that formula due to its archaic technology systems, the senators proposed, then it would simply default to a $200 per week federal benefit.

This is kind of similar to the HEALS Act proposal except this proposal is two thirds instead of 70%.

What Johnson and Braun proposed was not the entire HEALS Act bill, it was simply something like an emergency bill to extend the unemployment after the expiration.

However, Senate Minority Leader Chuck Schumer blocked that bill in the Senate and instead tried to pass the HEROES Act, today, and Johnson blocked the HEROES Act.

And then Martha McSally of Arizona tried to put forth a 1-week extension of the $600 benefit, just to keep it extended for 1 week, that would be supported by the White House at least according to Chief of Staff Mark Meadows’ comments to a reporter today, but Schumer blocked that as well, calling it a stunt, and sought to re-try the HEROES Act in the Senate, here’s a few clips about that.

Martha McSally: Today. I’m calling out my senate colleagues to be pragmatic, to meet in the middle on what we should agree on. I’m asking senators to simply extend expanded unemployment benefits for seven days, all Congress comes up with a solution. Who could be against that?

And then Rob Portman blocked the HEROES Act.

News is the Senate is looking as partisan as ever, even as the federal eviction moratorium has expired even as the supercharged on unemployment benefits are expiring.

But leading up to the CARES Act passing, they were still partisan, but there was more of a spirit of, hey, we got to work together here, but as you just saw from the Senate floor that’s not what’s happening right now, it looks like the odds of the enhanced unemployment being extended before the end of the month are getting just slimmer and slimmer.

Logan Allec, CPA

Logan is a practicing CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.

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