Hello everyone, and welcome to this important episode of Ignition Time.
This is very important for our viewers
and subscribers who are dependent on unemployment benefits or who have
friends and family dependent on unemployment benefits.
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Here's a headline of an article on your screen from CNBC, Enhanced unemployment benefits
may actually end a bit earlier than expected.
As you know, the American Rescue Plan
offers federal unemployment benefits until the 6th September, which is Labor Day.
But the problem and this is the big problem is that the administrative rules
of all the States require the last payable week of benefits to be the one ending
on the 4th or the 5th September, depending on the States.
Now, I want our viewers and subscribers to think about this for a second.
The 4th and the 5th September falls on a weekend.
So the 4th September is a Saturday and the 5th September is a Sunday.
So what happens is when the last payable week of benefits ends
on the 4th or the 5th September, depending on the States,
recipients may therefore end up getting one fewer week than anticipated.
This is significant because more than 11 million,
yes, you have that right,
more than 11 million of our fellow
Americans will lose all benefits or get a reduced check each week
after early September, according to one estimate.
So federal unemployment benefits officially expire on Labor Day,
but because of the state administrative rules,
again, this depends on your state,
so depending on which state you're in, those benefits will end on either the 4th
September, which is a Saturday, or the 5th of September, which is a Sunday.
So depending on your state administrative rules, the aid could actually end a few
days earlier than some people might anticipate.
So all States pay weekly benefits
according to a schedule that ends on a Saturday or Sunday.
However, the American Rescue Plan offered aid until September 6, which is a Monday.
Therefore, the last payable week of benefits will be the one ending
September 4th or September 5th according to the state.
Now let me be honest, I think
that if the legislatures if Congress and the Senate were paying attention,
they would have known that the 6th September is a Monday.
I'm assuming all our lawmakers have calendars, then they should have made
the unemployment benefits available until the 12th September instead of just
choosing an arbitrary date like the 6th September, which is Labor Day.
If they had chosen the 12th September,
then everyone would have received benefits for the entire week of the Labor Day week.
However, they did not not do that.
So what's happening is that even though the American Rescue Plan offered aid up
until September 6, which is a Monday, the last payable week of benefits will be
the one ending the 4th or the 5th September.
Yes, I guess that's how our government works.
Workers may have assumed that they'd be
able to collect benefits the week of September 6.
However, they are not going to be able to do that.
Here's a statement
from the California Employment Development Department, the federal government does
not allow benefit payments to be made for weeks of unemployment after September
4, even if you have a balance left on your claim at that time.
So this benefits cliff will impact more than 11 million people who are going
to lose this unemployment aid entirely, or in many cases, they'll end up seeing
a much smaller check each month, according to estimates from the Century Foundation.
Now, this is important.
From the Urban Institute, labor economist Wayne Roman.
He said this, I don't think there's any
appetite for that, meaning extending the benefits.
I think given the strength of the economic recovery and the labor market recovery,
there's basically no possibility of that happening.
Yes, folks, there is no political will
to extend these unemployment benefits because many States,
many States have actually canceled the unemployment benefits early.
In fact, four States and these are Alaska, Arizona, Florida and Ohio only ended
the extra $300 a week and kept other federal benefits intact.
However, other States decided to do away
with federal unemployment benefits altogether.
I'm talking 26 States, a majority of them Republican States.
And also to make this more complicated, state judges in Indiana,
Maryland and Arkansas actually reversed the withdrawal, the official withdrawal
of the state, and they reinstated the benefits.
So this has been a very, very complex matter.
In fact, 125 million workers in those seven States will lose unemployment
benefits when they officially expire in early Septem.
Now, in the remaining States,
about seven 5 million selfemployed individuals, gig workers,
long term unemployed and others will lose benefits through two federal programs.
These two federal programs, AMS
are the Pandemic Unemployment Assistance Program, the Pua Program for parttime
workers, gig workers, and the Pandemic Emergency Unemployment Compensation.
Right now there are two 8 million of our fellow Americans collecting regular state
benefits, according to the Labor Department,
and recipients can continue to get aid past early September.
I want you to know this, this is important.
Recipients can continue to get aid past early September assuming they have not
exhausted their maximum duration, which is typically six months.
However, these checks will be reduced by $300 per week.
But the biggest problem here, folks, is the September 6 deadline,
because the enhanced unemployment benefits will end earlier than expected.
If you are expecting
to get these unemployment benefits during the week of September 6,
I have news for you because of the way unemployment benefits are paid out
by States, meaning that States provide unemployment benefits and end those
benefits on that week on either a which is the end of the week or a Sunday.
In some States, which by the way is not the end of the week.
It's a start of the following week, but that's how some States do it.
Go figure. You know, I find that interesting as well.
But the important thing here is because the 6 September is a Monday.
The last week for unemployment benefits will be the week ending the 4 September.
And that is where things stand.
And this is what makes things very complicated for individuals who are
dependent on unemployment benefits to pay their bills.
I really think that when
the American Rescue Plan was passed, they should have given this some thought.
I believe that the lawmakers randomly chose the date September 6, Labor Day.
I think the lawmakers made a mistake.
I think they should not have selected a random date like the 6 September.
They should have said, hey, wait a minute.
Because unemployment benefits end
on a Saturday or a Sunday, depending on the state.
What we need to do is make sure
the unemployment benefits end on a specific date.
Now, they could have ended the unemployment benefits on the 5
September, but that wouldn't have sounded so good.
It just sounds good when they say, hey, we
extended unemployment benefits through Labor Day.
What they should have done is extended unemployment benefits through the week
of Labor Day, which would have been the 12 September.
But they did not do that because they were
thinking of what sounds good, what looks good on paper,
and what a bunch of lawmakers basically agreed to in a closed door meeting
decisions that affect the lives of millions of our fellow Americans.
And that is what is going to lead to the end of the inherited unemployment
benefits a week sooner than many people I have anticipated.
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and family who are dependent on unemployment benefits.
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I'm looking forward to seeing you in the next episode of Ignition Time.
Take care. Bye.