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The Emergency Unemployment Compensation 2008 (EUC08) is an extension of unemployment benefits authorized under federal law. The Middle Class Tax Relief and Job Creation Act of 2012 (enacted on Feb 22, 2012) modified EUC08.
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]
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.
Workers in Texas will lose at least $3,000 in additional unemployment benefits while workers reliant on other federal programs will lose from $3,700 to $8,350 in benefits. The move will leave 1.3 ...
More than 4 million workers are affected by the cuts in those states, losing a total of $22.5 billion in potential benefits, according to estimates by the Century Foundation.
Rep. Alexandria Ocasio-Cortez (N.Y.-D) has called for the unemployment programs introduced under the March 2020 CARES Act to be extended through January 2022. AOC told viewers during a virtual town...
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. [2]
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