$10,200 NO TAXES $400 $300 Unemployment Benefits Unemployment Extension SSI Stimulus Update PUA FPUC

NO UNEMPLOYMENT TAXES! $400 + $300 Unemployment Benefits Unemployment Extension SSDI SSI Stimulus Update PUA FPUC

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NO UNEMPLOYMENT TAXES! $400 + $300 Unemployment Benefits Unemployment Extension SSDI SSI Stimulus Update PUA FPUC

Here’s your unemployment update for Sunday, March 7th, 2021

Senator Joe Manchin who influenced some oft the biggest last-minute changes to President Joe Biden’s $1.9 trillion stimulus proposal is defending his $100 decrease.

Manchin said keeping enhanced weekly unemployment benefits at $300- as passed into law by the December stimulus package helped ensure Republicans wouldn’t further delay a vote on the stimulus bill.

He stated, “If we stay at $300 for unemployment, it’s seamless; no one misses a paycheck at all.”

The vote was delayed after Manchin said he wouldn’t support extending the PUA through the end of September but passed after Senate Democrats reached a compromise to end it on September 6th.

Meanwhile, Democrats will now look to get that aid bill to President Joe Biden in time to prevent a gap in jobless benefits which are about to end next weekend.

However according to some experts, its perhaps too late to stop that from happening.

Elizabeth Pancotti, an unemployment expert and policy advisor at Employ America stated, “The unfortunate reality is, we waited too long. They needed a bill by about Valentine’s Day.”

As we all know on this channel, these delays also occurred earlier when the second stimulus package was signed in December.

States have a slow response time considering they have to wait for guidance from the Labor Department on how to implement new rules after a law passes.

We are hopeful that once those unemployment benefits get released they will be retroactive to when the bill gets signed.

And finally, the relief bill that passed the Senate on Saturday morning contains a key provision that would come as a big relief to million of Americans who received unemployment benefits last year, no surprise tax bills.

As the senate was coming together, Senators Rony Wyden and Bernie Sanders pushed to add a measure that would expect the first $10,200 of unemployment benefits earned in 2020 from tax bills this season.

The HuffPost reported that those tax bills were expected to range between $1,000 and $2,000 and strike many folks who are still without jobs.

The provision was first proposed months ago but it didn’t make it into the House’s version of the relief bill.

The IRS is going to be slammed with tax season and send out a new round of stimulus checks, so the Treasury Department will have to issue some sort of guidance to those who have already did their taxes.

Sources:

https://www.huffpost.com/entry/covid-relief-bill-eliminates-surprise-tax-bills-on-unemployment-benefits_n_6043e18dc5b6429d0833c952
https://www.cnbc.com/2021/03/06/stimulus-update-it-may-be-late-to-stop-unemployment-benefits-gap.html
https://www.forbes.com/sites/jonathanponciano/2021/03/07/sen-manchin-defends-lowering-weekly-unemployment-to-300-in-new-stimulus-bill/?sh=7e9928f3db7d
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