‘It’s daunting to think about what the consequences will be.’ With no stimulus deal, much of America’s temporary financial safety net will expire Dec. 31

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The help that Americans have been getting with rent, unemployment benefits, student loans, paid leave and more is scheduled to end soon.

The prospect of another stimulus package before Election Day is uncertain, even as the White House and Democratic leaders kept talking Wednesday.

If no deal materializes soon, a stimulus package — or at least some aspects — could conceivably pass in the lame duck session after Election Day and extend some of the deadlines. The CDC recently clarified that landlords can take their tenants to court over missing rent payments in the meantime. In these cases, a judge could evict a tenant, but under the CDC order they would be allowed to remain in their home until the end of the year, at which point sheriff’s deputies could be ordered to escort them out.

Some states and localities across the country have issued their own moratoriums on evictions since March. Under the CDC’s order, those moratoriums take precedence over the national one if they are more proactive. Many of these eviction bans have already expired, but in some states they will remain in place into next year.

Because many homeowners initially requested forbearance back in the spring, their initial forbearance periods will end soon. If they still cannot afford to make their monthly payments, they need to request an extension from their loan servicer. Otherwise, the servicer will move to set up a repayment plan.

It is not yet clear whether the federal agencies will extend these moratoriums into 2021; however both agencies have extended their bans on foreclosures multiple times. The only way many of these Americans could still qualify for unemployment benefits is if they “have a history of W2 work,” Stettner said, meaning that they worked a “traditional” job where their employer reported their earnings to the government. That is also the main way of proving that you qualify for unemployment benefits.

Pay amounts depend on whether the leave has to do with medical reasons or family care. For example, someone who is taking sick leave can receive up to $511 daily and $5,110 in total, according to the Department of Labor. A worker can also receive up to $2,000 in a two-week period for child care under one part of the law, and an additional $10,000 for another 10 weeks of leave under another part of the law.

 

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Paying off student loans will be a huge plus for Americans. The real problem is consumerism . Americans love to shop. Stimulus , gone before its hits the door.

Millennial investors watching like.

Print and pump cash to maintain America afloat!

stimulus should’ve been the trending topic since it expired in July—but no—it was the Lakers, NFL, Judge Barret, Trumps covid scare, everything but what puts direct food on peoples tables 🤦🏻‍♂️

Some people will find themselves on the street before then, but it seems like both parties are more interested in fighting about a stimulus than doing it. McConnell, you got Amy on the bench so give up some stimulus!

isn't that what capitalism is all about?

There is going to be no more government heroin for the markets until Jan 20th at the earliest. You can keep hashing it, and there may be some small 'givebacks', but nothing major is happening until we know the new makeup of govt as both sides think they are going to win.

$2 TRILLION of taxpayer money and these a-holes do nothing but play games. Looking at you, SpeakerPelosi. DoYourJob

SpeakerPelosi must stop acting like a child and think of the Americans instead of her special interest groups and pass the bill!

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