As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by TheHill.com:
Treasury Secretary Steven Mnuchin on Sunday threw cold water on the prospect of extending $600-per-week unemployment benefits for Americans for the duration of the COVID-19 pandemic.
In an interview with ABC’s “This Week,” Mnuchin suggested that the payments, which expired last week, led to some out-of-work Americans being “overpaid” and indicated that he believed they were slowing the return of workers to the labor market.
The article goes on to state the following:
“Unemployment is supposed to be wage replacement, so it should be tied to some percentage of wages,” he said. “The fact that we had a flat number was only an issue of an emergency where we had 30-year-old computer systems.”
“I think on the concept we absolutely agree on enhanced unemployment,” he continued. “We want to fix the issue where in some cases people are overpaid, and we want to make sure there’s the right incentives [to get back to work].”
“In certain cases where we’re paying people more to stay home than to work, that’s created issues in the entire economy,” Mnuchin added.
Treasury Secretary Mnuchin tells @MarthaRaddatz “there’s no question” that $600 unemployment insurance is a disincentive to find a job in “some cases.”
— This Week (@ThisWeekABC) August 2, 2020
To get more information about this article, please visit TheHill.com.