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Unemployment extensions are created by passing new legislation at the federal level, often referred to as an "unemployment extension bill". This new legislation is introduced and passed during times of high or above average unemployment rates. Unemployment extensions are set during a date range in order to estimate their federal cost.
The federal government has been providing additional weeks of unemployment benefits for people since 2008. [2] The most recent extension was provided by the American Taxpayer Relief Act of 2012 , which extended unemployment benefits until the end of 2013.
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Senate Republicans are considering a short-term extension of boosted federal unemployment benefits, just days before the payments are scheduled to expire for millions of Americans. Out-of-work ...
Due to delays in stimulus negotiations, extra unemployment payments from the federal government aren’t likely to be issued until after Labor Day. After lengthy negotiations, there’s still no ...
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A 13-month extension of federal unemployment benefits. [2] [9] The cost of this measure was estimated at $56 billion. [7] A temporary, one-year reduction in the FICA payroll tax. The normal employee rate of 6.2 percent is reduced to 4.2 percent. The rate for self-employed individuals is reduced from 12.4 percent to 10.4 percent. [9]
Now that Kentucky Senator Jim Bunning has finally relented and allowed the Senate to pass unemployment extension benefits, many out-of-work Americans can breathe a sigh of relief. When there's a ...
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