Budget, Tax and Economy
The American Rescue Plan includes $1,400 direct payments, $300 weekly unemployment benefits until September and hundreds of billions of dollars in aid.
More than $63 billion has been paid out improperly through fraud or errors, according to the Labor Department inspector general’s office.
The job market’s persistent weakness is fueling President Joe Biden’s push for a $1.9 trillion economic rescue package.
Last week’s total dropped from 812,000 the previous week, the Labor Department said Thursday, and is the lowest in two months.
It is officially budget reconciliation season, as Senate Democrats look to pass another coronavirus relief bill.
Now that Republicans are less of an obstacle, Dems are negotiating with themselves.
Before the virus hit the country hard last March, weekly applications for unemployment aid had never topped 700,000.
Economists expect growth to accelerate in the second half of the year once COVID-19 vaccines become more widely distributed.
It might have something to do with Democrats coming to power.
Biden proposes $1,400 direct payments and extending boosted unemployment benefits until September.