Second Stimulus Unemployment Update: Did it have any effect?

The Second Stimulus check. What was it? What effect did it have on the citizens of the United States? These are the questions we seek to answer, having gone through one of the tough times in human history.

The Second Stimulus was part of the COVID-19 relief programs passed by the legislator. The aim was to help the economy recover from the damages made by the pandemic. Did it do that? Well, that’s a question many people have different answers to, but one thing is sure, it helped a lot.

The CRTRA was part of the second economic stimulus package, with its sole being to give out financial assistance during the COVID-19 pandemic. What did this one entail?

So we had financial assistance, extended unemployment benefits, funds for education, etc. To qualification require for this was also an easy one sought of. Almost everyone earning the stimulated amount per year was sure of getting the check.

One of the most anticipated benefits of the second stimulus package, beyond the $600 check, is unemployment support. Millions of workers who lost their jobs requested this support during 2020. 

Here are the answers to the most common questions about this benefit.

What is the unemployment benefit of the second stimulus package?

In the new stimulus package, the project contemplated a federal unemployment benefit that is combined with the unemployment payments that each state has. On this occasion, $300 dollars was to be paid weekly until March 14.

How do unemployment benefit extensions work?

Most state benefits were paid for 26 weeks. As soon as they finish, the 11 weeks added to the current package were extended. 

These extensions also applied both to people who already receive the state benefit and were also on the Pandemic Unemployment Assistance (PUA) program. These were however mostly worker who did not qualify for the unemployment benefit.

How long do you have to wait to receive benefits?

If your unemployment benefits had already run out, you were able to collect the additional 11 weeks offered by the second stimulus package. You needed to keep an eye on your state’s website for instructions on filing for unemployment. Although it was very possible that the state would restore your payment automatically, you still had to wait at least a week for this to happen.

That is quite all about the Second Stimulus check, to learn more, check out this article on the IRS website.