Enhanced unemployment benefits technically end before July 31.
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This Sunday, July 26, two more benefits that were developed to help ease the financial strain on Americans during the coronavirus pandemic will have ended, potentially harming the vast majority of unemployed workers, according to the House Ways and Means Committee. The CARES Act, which was signed into law on March 27 by President Donald Trump, provided enhanced unemployment payments to supplement lost income from layoffs and a clause to delay evictions for 120 days.
“We’re not going to continue [enhanced unemployment] in its current form because we’re not going to pay people more money to stay at home than work,” US Treasury Secretary Steven Mnuchin said Thursday on CNBC. “But we want to make sure that the people that are out there that can’t find jobs do get a reasonable wage replacement.”
Senate Majority Leader Mitch McConnell says Republicans are working on a CARES 2 package that they will propose Monday. It’ll focus on reopening schools, jobs, the economy and health care.
It’s unlikely the Senate will pass a new rescue package by the end of this month, but rather in August — before the Senate goes on another month-long recess — which means a lapse in these relief benefits is guaranteed. The Senate has said it will see a second stimulus check as part of the next bill, but it also isn’t clear what the eligibility requirements could be.
Here are all the benefits that go away when the CARES Act expires and what — if anything — you can do.
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Second stimulus checks are closer to reality
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Enhanced unemployment benefits end this weekend
By July 26, the enhanced unemployment benefits of an extra $600 per week on top of the usual allowance will end — a week sooner than originally reported. Mnuchin said the GOP will extend enhanced unemployment insurance based on 70% wage replacement, CNBC reported Thursday, though we don’t know when that will happen or if it will go into immediate effect when it does.
One suggestion is for Americans to get $400 per month at a rate of $100 per week in extra unemployment relief through December. However, an inability to agree on how to cut the emergency unemployment assistance is holding up proceedings for the next bill, The Washington Post reported.
As of July 4, nearly 32 million people were claiming unemployment benefits. In the week ending July 18, over 1.4 million people filed for unemployment for the first time, according to the Department of Labor (PDF). Throughout the pandemic, 53 million unemployment applications have been filed, including gig workers and the self-employed, The Washington Post reported.
The Department of Labor said this about the expiration in a statement to USA Today in June:
The [Federal Pandemic Unemployment Compensation] $600 can be paid for weeks ending no later than the week ending prior to Friday, July 31, 2020,” according to the statement. “For all states except [New York], that is Saturday, July 25th. New York’s end date is Sunday, July 26th.
The expiration of these benefits could also mean gig workers, freelancers, independent contractors and small business owners — those who usually aren’t eligible for unemployment — will also lose this source of income. If you’re still eligible for the usual unemployment benefits, you’ll still continue to receive them.
It’s unlikely that the next round of emergency unemployment benefits will allocate as much money per week as the last.
Angela Lang/CNET
Federal eviction protections stop July 25
Included under the CARES Act is a temporary moratorium on evictions for most residents with subsidized apartments and renters of homes covered by Fannie Mae, FHA and Freddie Mac. This protected Americans who were unable to pay their rent from being evicted from their homes for 120 days.
These protections will end July 25 — and on that date, landlords can begin sending eviction notices. At that time, landlords are required to give the residents a 30-day notice to vacate before eviction. There’s concern that people who won’t be able to pay their rent and are evicted could contribute to a rise in the number of homeless families across the country.
Here’s more information about evictions and resources you can use.
The tax filing deadline was July 15.
Angela Lang/CNET
No more tax extensions for 2020
The original deadline to file your taxes was April 15, but due to coronavirus, it was extended to July 15. And while there was talk of a possible second extension, one was never passed. If you didn’t file your taxes or an extension by July 15 and you owe money, you’ll be charged interest, along with a $300 penalty. Note that it’s now too late to file a tax extension.
If you’re one of the millions of Americans trying to figure out what the next steps are, we’ve got more tips to help you. Here’s what the ending of enhanced unemployment means for you, what to do when the eviction protections end and how to file your taxes online. Also, here’s the latest on whether you’ll get another $1,200 stimulus check from the IRS.