Continuing to fund additional unemployment benefits will deter workers from returning as the economy tries to re-open.
Thanks to the economic relief packages that have already been implemented, the U.S. is set to run a $3.8 trillion deficit this year. But Speaker of the House Nancy Pelosi and her fellow House Democrats have proposed yet another round of spending—the $3 trillion “HEROES Act.”
The bill includes a federal bailout for financially struggling states and localities and additional broad-based $1,200 relief checks for individuals. But the most significant provision could be its extension of enhanced unemployment benefits through January 2021. Critics warn this could undermine states’ efforts to reopen and put a drag on our economic recovery through 2021.
Here’s why.
Michael Oxbrough Delaware just set ours. June 1. 30% capacity.