. Congressional Republicans had proposed a partial extension of a $200 supplement per week, which failed in the Senate, as did a Democratic bill extending the full $600 per week benefit.
A Bank of America analysis noted that the lapse in benefits, combined with the roughly 30 million Americans still laid off and receiving unemployment insurance, could lead to a huge collapse in aggregate income. A reduction from $600 to $200 per week would work out to about a $12 billion weekly national loss in income and a complete end to the unemployment supplements would lead to an $18 billion decline in weekly income, according to the bank.
, based on how average payments would change under the potential replacement law. Some states could see weekly benefits for unemployed workers cut roughly in half. As the expanded benefits lapsed, roughly 28 million Americans across the 50 states and DC were still receiving unemployment benefits as of July 11,
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