Trump suggested Republicans could reduce unemployment benefits to an estimated $175 each week. That would cause 30 million jobless Americans to lose up to half their income.
the beefed-payments with prompting quicker rebounds in consumer spending than if there hadn't been anything in place — particularly among low-income families that suffered disproportionately from the economic fallout of the pandemic.
Trump's suggestion appears to be a nonstarter among Democrats driving to keep the enhanced payments in place. Sen. Ron Wyden of Oregon told Business Insider in a statement that drastically scaling back unemployment benefits as would hurt the ability of families to make ends meet as coronavirus cases are surging anew.
He continued: "Slashing benefits to 70 percent of wages would cause families tremendous financial pain and the loss of about 3.4 million jobs."
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