Coronavirus stimulus: GOP plan would hurt low-income families most, experts say
If the GOP’s plan to reduce extra coronavirus unemployment benefits gets passed, lower-income American families will get hurt the most.
The Republican proposal released Monday suggests cutting the extra unemployment benefits to $200 a week through September and then ultimately transitioning to unemployment benefits that replace only 70% of wages.
That would replace the extra $600 in weekly benefits that expire on July 31.
“The $600 a week disproportionately benefits poor people and that is really a feature, not a bug,” said Martha Gimbel, manager of economic research at Schmidt Futures. “It was originally a bug, but it's turned into a feature where poor people are just more likely to spend.”
https://money.yahoo.com/gop-unemployment-plan-could-delay-funds-and-hurt-lowincome-families-most-135130308.html
