While many Americans are still waiting on their unemployment benefits from the last few months, The White House announced yesterday that unemployment benefits will be returning soon, only this time the benefit will be $400 instead of $600.
So many Americans are hurting right now, especially once the extra $600 a week in benefits expired in July, so the new assistance program is expected to be roughly $400 per week and will start in 2 weeks.
However, not everyone will get $400, some may only be able to get $300, and that is based on the State you live in. Here’s why…
Of the $400 per week, the federal government would cover 75%, or $300, while states would be asked to cover the remaining 25%, or $100. Which means, some states who are cash strapped may not be able to pay their part.
States have two options to fund the $100 share they owe: They could count the first $100 they already pay in standard, weekly benefits to meet that requirement. That could mean the aid is reduced to $300 a week for some out-of-work Americans, which would be half of what they were previously receiving when the benefit was $600.
Millions of Americans are still waiting on their unemployment benefits prior to July 26th, and the good news is, if you qualified before July 26th, you will still get paid the extra $600 for that time period.
The new round of unemployment benefits is expected to start in 2 weeks, and could run through December possibly.
