• The Financial District

PELOSI: US CONGRESS NEEDS COMPROMISE TO EXTEND COVID AID PAYMENTS

Democratic House Speaker Nancy Pelosi said on Sunday she believes US lawmakers can find a compromise on extending jobless benefits and unemployment insurance for Americans struggling amid coronavirus pandemic shutdowns. “We have to find a compromise because we must extend it,” Pelosi said on CNN’s “State of the Union.”


The top Republican in the US House of Representatives has said it would not be productive to extend the extra unemployment benefits that were included in coronavirus relief legislation earlier this year. The benefits expire on July 31.

Minority Leader Kevin McCarthy and other Republicans point to statistics showing many Americans receive more money from the extended unemployment benefits than they earned when they were at work, Doina Chiacu wrote for Reuters on July 12, 2020.

Republicans and Democrats have been debating how to help the country recover from the economic effects of the novel coronavirus, which led to business closures that have thrown tens of millions of Americans out of work. The loss of the safety net of $600 per week payments to laid-off workers looms well before a sustained recovery is likely to take hold from the sudden and deep recession brought by the coronavirus, which has infected nearly 3 million Americans.

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