• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Current price of oil as of July 13, 2026

2

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

3

Current price of silver as of Monday, July 13, 2026

1

Current price of oil as of July 13, 2026

2

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

3

Current price of silver as of Monday, July 13, 2026
Financeunemployment

$300 unemployment benefits and UI tax forgiveness: Everything the new stimulus package includes for jobless Americans

By
Lance Lambert
Lance Lambert
Former Real Estate Editor
Down Arrow Button Icon
By
Lance Lambert
Lance Lambert
Former Real Estate Editor
Down Arrow Button Icon
March 8, 2021, 11:20 AM ET
Add Fortune on Google for similar content.

Democratic leaders are rushing to pass an economic aid package this week before $300 per week enhanced unemployment benefits expire on March 14.

On Feb. 27, the Democratic-controlled House passed a stimulus package that would extend enhanced unemployment benefits through August and upped weekly payments from $300 to $400. But Senate Democrats amended the bill, keeping the weekly payment at $300 and extending it through early September.

The House plans to vote on that revised bill on Tuesday. Democratic leaders still hope to get the package on President Joe Biden’s desk before the pandemic unemployment benefits lapse on March 14.

To help jobless Americans better understand the bill that passed through the Senate, Fortune put together a guide.

Who would be eligible for the $300 weekly unemployment benefits?

The passage of the CARES Act in March 2020 expanded eligibility for unemployment benefits. It now include jobless part-timers, self-employed workers, freelancers, and independent contractors. These unemployed Americans covered through Pandemic Unemployment Assistance, along with anyone on traditional state unemployment rolls, will automatically get the new $300 weekly federal benefit.

This is on top of their state unemployment insurance benefit. For instance, a worker in New York who gets the maximum state benefit of $504 per week would receive a total of $804 per week.

If the bill is signed into law, how long would $300 unemployment benefits last?

The package passed in the Senate would extend enhanced $300 unemployment through the week of Sept. 6.

Do I have to pay taxes on my 2020 unemployment benefits?

Senate Democrats also added a provision that would grant tax forgiveness for up to $10,200 in unemployment benefits paid in 2020. Just to be clear: That means, if the bill is passed, individuals wouldn’t have to pay federal taxes on $10,200 of the unemployment benefits they received last year. The reason for the provision? Many jobless Americans didn’t have federal taxes withheld on their 2020 unemployment benefits and now owe big tax bills.

Does Biden support the Senate’s unemployment revisions?

The President appears to be on board with the Senate keeping enhanced unemployment at $300 per week.

After the Senate announced its unemployment plans on Friday, White House press secretary Jen Psaki tweeted: “The compromise amendment achieves that while helping to address the surprise tax bills that many are facing by eliminating the first $10,200 of UI benefits from taxation for 2020. Combined, this amendment would provide more relief to the unemployed than the current legislation.”

Does it extend PUA and PUEC unemployment protections?

The $1.9 trillion package passed through the Senate would extend Pandemic Unemployment Insurance (PUA) and Pandemic Emergency Unemployment Compensation benefits (PEUC) from March 14 to Sept. 6. PUA expands who is eligible for unemployment benefits to include people like business owners, part-timers, and freelancers. PEUC grants an extra 24 weeks of jobless benefits to recipients once they exhaust their state benefits.

About the Author
By Lance LambertFormer Real Estate Editor
Twitter icon

Lance Lambert is a former Fortune editor who contributes to the Fortune Analytics newsletter.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Goldman economist offers a reality check on AI adoption: it took 15 years for computers to really show up in the data
AIEconomics
Goldman economist offers a reality check on AI adoption: it took 15 years for computers to really show up in the data
By Nick LichtenbergJuly 14, 2026
1 hour ago
JPMorgan’s Jamie Dimon
SuccessRetirement
JPMorgan CEO Jamie Dimon says he’s eyeing up book deals and teaching gigs when he steps away from his decades-long career at the banking giant
By Emma BurleighJuly 14, 2026
2 hours ago
w
Bankingphilanthropy
‘He found their weakness. It might have been sex. It might be power’: Warren Buffett stunned by Epstein pull as he snubs Gates Foundation
By Josh Funk and The Associated PressJuly 14, 2026
2 hours ago
How a home insurance deductible works, and how to choose the right one
Personal FinanceInsurance
How a home insurance deductible works, and how to choose the right one
By Joseph HostetlerJuly 14, 2026
3 hours ago
SpaceX and Amazon look like tech twins—but their financials tell a very different story
Big TechCFO Daily
SpaceX and Amazon look like tech twins—but their financials tell a very different story
By Sheryl EstradaJuly 14, 2026
4 hours ago
Top CD rates today, July 14, 2026: Lock in up to up to 4.40%
Personal FinanceBanks
Top CD rates today, July 14, 2026: Lock in up to up to 4.40%
By Glen Luke FlanaganJuly 14, 2026
4 hours ago

Most Popular

Current price of oil as of July 13, 2026
Personal Finance
Current price of oil as of July 13, 2026
By Joseph HostetlerJuly 13, 2026
1 day ago
The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
Innovation
The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
By Sasha RogelbergJuly 12, 2026
2 days ago
Current price of silver as of Monday, July 13, 2026
Personal Finance
Current price of silver as of Monday, July 13, 2026
By Joseph HostetlerJuly 13, 2026
1 day ago
How Pete Hegseth's DEI order just put Scouting America's future at stake
North America
How Pete Hegseth's DEI order just put Scouting America's future at stake
By Seth T. Kannarr, Derek H. Alderman and The ConversationJuly 13, 2026
22 hours ago
Current price of gold as of July 13, 2026
Personal Finance
Current price of gold as of July 13, 2026
By Danny BakstJuly 13, 2026
1 day ago
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
Middle East
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
By Jason MaJuly 11, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.