Beginning Monday, more than 40 states across the United States will start distributing an extra $300 weekly unemployment benefit, said the Federal Emergency Management Agency (FEMA). The additional financial support will be given to qualifying individuals and is palced on top of any other benefits they are currently receiving.
Weekly $300 unemployment benefit
On Friday, the FEMA announced that more than 40 states across the country revealed they would be distributing additional weekly $300 to those qualified who are already receiving state benefits. The sending of payments will start on September 7 and is issued on top of what people are currently getting.
The new financial benefits' eligibility requirement obligates an individual to already be getting at least $100 in state benefits to be qualified for the new $300 federal aid.
According to The Sun, the distribution of the federal benefits will last until December 27. The US government has set aside $44 billion to fund the new weekly unemployment benefit. However, there is little to no guarantee that the initial investment will last until the end of the year after the surge of unemployment applications in recent weeks.
In the US, nearly 30 million citizens are receiving unemployment benefits, and some 1.4 million people have filed for unemployment in July amid the devastating economic impacts of the coronavirus pandemic.
FEMA said that the unemployment benefit's initial distribution would pool a three-week total between August 1 to August 22. After the first three weeks, the agency said that future benefits would be given out at a weekly rate, as reported by Investopedia.
Each state or territory will decide to decide how to distribute the payment to individual claimants. Residents may get one amount every week, including both regular and Lost Wages Assistance (LWA) funds, or they could be given separately in two payments.
On Friday, United States President Donald Trump said that the federal government had allotted $300 billion worth of funding to support the next round of stimulus checks. The Republican leader added that Democrats have been blocking the cash from being given out to Americans.
During a press briefing at the White House, Trump announced that the funds for the next stimulus bill are ready to go and help millions of citizens across the nation. The president added that he wanted to use the funds immediately but noted that Congress would not allow him.
Trump stated that his administration was willing to spend the stimulus funding and get approval from Congress, arguing there were claims that he could distribute the stimulus without consent. Since then, he has chosen to follow protocols and wait for Congress to approve payments.
Currently, Congress is away on its summer recess and will return on September 8, where it is possible that a deal could be made or agreed on regarding the next coronavirus relief package and how best to mitigate the devastating impacts of the COVID-19 virus on the nation and its people.