Pandemic Unemployment Compensation

Opinion

Opinion: Why Have Federal Unemployment Benefits Cost So Much More Than Expected?

The March 2020 CARES Act expanded unemployment benefits for millions of laid off workers, many of whom will benefit from program extensions into 2021 included in Congress’ new relief bill. Unofficial estimates suggest the latest extensions will cost $120 billion. That begs the question — how well did Congress’ scorekeepers do in projecting the cost of the opening

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