In this video, Dr. Chhoda explores:
1. Overview of the unemployment system in the country.
2. How White House arrived at $700/week number
Larry Kudlow (White House Senior Economic Advisor) said: $700 a week in overall unemployment benefits
White House is adding average of $300/week state UI + $100/week (state contribution towards the lost wages assistance program from CRF funds which is technically CARES Act money therefore it’s federal money) + $300/week (federal money from DRF established through FEMA funds as per President’s executive order) = $700/week in overall unemployment benefits as per White House.
3. Concerns from Governors across several states (which states can, and cannot pull off the $400/week booster from the ‘lost wages assistance program’)
Majority of states do not think $400/week is doable. Check out https://twitter.com/besttrousers/status/1293243149108817920
Grey states – waiting for information / announcements from state officials.
BOTTOM LINE – check with your state if / when you’ll get $400/week and post in the comments section below if you get the funds.
According to the Center on Budget and Policy priorities, in April 2020, average weekly benefits were about $333 nationwide but ranged from a low of $101 in Oklahoma to $531 in Massachusetts.
Although states are subject to a few federal requirements, they are generally able to set their own eligibility criteria and benefit levels.
LARRY KUDLOW KEY COMMENTS
1/3rd of what the Democrats want has nothing to do with the pandemic, that needs to be stripped out, it is a left wing wishlist, we would love to extend the PPP, put additional money in for safe and secure school opening, President is still open to direct mailing of checks of $1200/person.
We are willing to negotuate, not going to split the difference.
Larry Kudlow appears to say on Fox that states will NOT have to kick in extra $100 per week per worker for federal $300 plus-up to take effect
Can states afford to meet the $100?
Kudlow: “We modified slightly the mechanics of the deal … the way we’re leaving it now is any state that put in $100 before for unemployment benefits – and every state did – they will then qualify for the extra $300 so the baseline of unemployment benefits from states is approximately $400 per person per week (median). On top of the federal government is going to put in $300 so that will give the benefit overall of $700 (per week). There are 16 million people unemployed and they need help”
“The states have already done it.”
COMMENTS FROM VARIOUS STATE GOVERNORS
Pennsylvania governor, Tom Wolfe:
“This is not something that any state will be able to do quickly”
“This only makes a bad situation worse,” NY Governor Andrew Cuomo said. “When you are in a hole, stop digging. This executive order only digs the hole deeper.”
Gov. Andy Beshear of Kentucky: This will cost KY $1.5 billion through the end of the year. “It’s not workable in its current form,” Mr. Beshear said. “It’s something virtually no state can afford.”
Gov. Asa Hutchinson of Arkansas, a Republican, said it was possible to comply with Mr. Trump’s executive order, but he would have to reallocate money from another portion of the budget.
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