Trump To DECIMATE Unemployment Benefits

Trump to decimate unemployment benefits as unemployment rates reach historic lows. John Iadarola and Michael Shure break it down on The Damage Report. Follow The Damage Report on Facebook:

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“The enhanced unemployment benefits provided by Congress for laid-off workers as part of the $2.2 trillion CARES Act are shaping up to be a major point of contention as lawmakers engage in an increasingly partisan debate over a next round of coronavirus aid.

President Trump reportedly expressed opposition to extending the $600-a-week increase in unemployment benefits, which comes on top of benefits already provided by states, during a closed-door lunch with Senate Republicans on Tuesday, The Washington Post’s Seung Min Kim reports.

Democrats have proposed extending the aid, which is set to expire at the end of July, through January 2021, but Republicans — some of whom balked at the initial boost — have said they worry that some workers are making more in unemployment than they would at their jobs, giving them little incentive to return to work. A paper from University of Chicago researchers found that 68% of jobless workers eligible for unemployment insurance will get benefits greater than their lost earnings, according to The Hill.”

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