U.S. Treasury Secretary Steven Mnuchin informed yesterday that the enhanced unemployment benefits will not be discontinued and will go on supporting until the end of the year although at a lower level.
Both the administration and the U.S. Congress have finally agreed to the relief package of $600 a week known as enhanced unemployment benefits. The package was earlier going to expire on July 31.
Mnuchin and Congress top Democrat House Speaker Nancy Pelos had a conversation on Friday where the Speaker told him that the extension of unemployment insurance should not be temporary.
On Saturday Mnuchin along with the White House Chief of Staff Mark Meadows was in the capital for a rendezvous with the staff of Senate Majority Leader Mitch McConnell for finalizing the key points of the package. “We don’t want a short-term extension either, we want something till the end of the year,” he said.
According to Mnuchin Republicans, last week were considering increasing the reach of unemployment benefits which would replace 70% of wages. “We want to make sure that there’s a technical correction so that people don’t get paid more money to stay home than to work,” he further added.
Mnuchin said that he believes that the initial details of the legislation will be ready by Monday. He also proposed that the validation on the standalone bill on unemployment benefits could be done before July 31. This gives enough time to the Americans to discuss other key issues regarding economic slowdown from the pandemic