GOP Relief Plan Slashes Unemployment Benefits By 43% For Average Worker

• Unemployment benefits would be cut by nearly half in a new plan proposed by Senate Republicans. The policy would replace a $600-a-week federal boost, which lapsed over the weekend in all states, with a reduced benefit of $200 a week.
• The plan would pay the new $200 subsidy through September. In October, that would be replaced by a different formula capping total state and federal jobless benefits at 70% of lost wages.
• That amounts to a 43% cut in total benefits when compared with the prior, $600-a-week policy, a temporary measure enacted in March under a federal relief law. The proposal would impact nearly 32 million Americans currently receiving unemployment benefits — about five times the level of the Great Recession more than a decade ago.

(Source: CNBC)