The Trump administration doesn’t want to extend the $600-a-week enhancement to unemployment benefits past July 31, according to Larry Kudlow, White House economic advisor.
by Greg Iacurci
CNBC.com
The Trump administration wants to end enhanced unemployment benefits and replace them with a different policy, according to a senior aide.
Federal coronavirus relief legislation enacted in March authorized jobless Americans to receive an extra $600 a week in unemployment benefits.
Those payments are scheduled to end after July 31, which may lead to a sharp decrease in cash flow for the roughly 30 million people currently receiving the benefit.
The unemployment rate in April and May was higher than at any time since the Great Depression.