Senate Democrats reach deal on extending unemployment insurance




  • In Business
  • 2021-03-06 01:19:08Z
  • By Axios
 

Senate Democrats struck a deal Friday evening to extend unemployment insurance in President Biden's $1.9 trillion COVID-19 relief package after deliberating and halting other action for roughly nine hours, per a Senate aide.

Why it matters: The Senate can now resume voting on other amendments to the broader rescue bill.

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  • Sen. Joe Manchin (D-W.V.) backed his party's proposal for emergency jobless benefits, after hesitating to support an earlier version.

  • Helping unemployed Americans has been an issue that's divided progressives, hoping to help constituents who's lost jobs during the pandemic, and Manchin and his fellow moderates who have wanted to cut costs from the sweeping legislation.

The big picture: Democrats will now offer an amendment extending the enhanced unemployment insurance of $300 per week through Sept. 6. The bill passed by the House pushed the program through Aug. 29.

  • The deal also provides tax relief to those who receive unemployment insurance from the program by making the first $10,200 received non-taxable for households with incomes under $150,000.

What they're saying: "The President supports the compromise agreement, and is grateful to all the Senators who worked so hard to reach this outcome," White House press secretary Jen Psaki said in a statement Friday night.

  • "Most importantly, this agreement allows us to move forward on the urgently needed American Rescue Plan, with $1400 relief checks, funding we need to finish the vaccine rollout, open our schools, help those suffering from the pandemic, and more."

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