Posted on 03/05/21
| News Source: The Hill
Senate Democrats are nearing an agreement within their caucus to reduce the boost in federal unemployment benefits in the COVID-19 relief bill to $300 from the $400 included in the House bill.
Democratic centrists led by Sens. Joe Manchin (W.Va.) and Tom Carper (Del.) support keeping the weekly benefit at $300 given the cost of the $1.9 trillion relief measure.
The “contours” of the emerging deal call for keeping the weekly unemployment benefit at $300 but extending it to Oct. 4 to avoid the so-called August cliff, according to a Senate Democratic aide briefed on the matter.
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In a concession to liberals, the deal would also make up to $10,200 in unemployment compensation exempt from taxes. The tax break would apply to benefits received in 2020.
People who have already filed their tax returns for 2020 would be allowed to file an amended return.
Read more at The Hill.