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Stimulus bill gives unemployment benefits a historic boost – CNN, CNN

Stimulus bill gives unemployment benefits a historic boost – CNN, CNN

(CNN) In a historic expansion of unemployment insurance, the federal government would give jobless workers an extra $ a week on top of their state benefits for four months as part of the $ 2 trillion stimulus deal lawmakers agreed to early Wednesday.

“It has unemployment insurance on steroids,” Senate Minority Leader Chuck Schumer said Tuesday of the package. “But, and most importantly, the federal government will pay your salary, your full salary for now four months.”

While the extra money in the deal wouldn’t fully replace the lost wages of some higher-paid workers, it would significantly add to everyone’s regular state benefits, which range from $ 460 from $ 728 a week, on average, depending on the state.

The massive boost in unemployment insurance, which is projected to cost about $ 550 billion, comes as the coronavirus pandemic wreaks havoc on the US economy . More than 3 million people are believed to have filed for first-time jobless benefits last week as governors around the country shut down most non-essential businesses in their states, according to some projections.

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