Mitchell Hartman, President Trump, Mitchell discussed on All Things Considered


Several days of delay and a lot of back and forth, President Trump signed the $900 Billion Cove in 19 relief package. But the president's delay has caused a lot of confusion about how some of the elements of that relief package will be distributed. Marketplaces Mitchell Hartman is here to help explain a Mitchell I can't really get to be here. So Mitchell by signing this on Sunday, the president let a couple of federal pandemic unemployment benefit programs expire briefly. Why is this one day gap such a big deal? Well, John. Most benefits are paid on a weekly basis. And when President Trump signed the relief bill yesterday this week had already begun. So it looks like none of the benefits could be given for the week when the bill actually became law. And people were thinking that meant 20 million people would go without the federal jobless benefit extension and the benefit for gig workers and the $300 a week top up Ernie to desk E, an economist at Evercore IAS. I told me that could have meant nine or $10 billion in lost relief just for this one week. Could have meant $10 billion. So what actually happened? Well, the rumor mill was chilling was turning that is to say, you know, many, maybe some of the states could figure out workarounds. Then this afternoon, the New Jersey Labor Department tweeted that no one in the two federal pandemic programs will lose a week a benefits, after all, because of guidance it got from the federal Labor Department and the Federal Labor Department didn't Answer our calls. Michelle Nevermore at the National Employment Law Project, says she's starting to see this today from other states as well. Very quickly before I let you go. Mitchell, What does that mean for this week? Well for this week, it looks like people will be able to simply ask for the benefit that they've been getting the technically did expire, And in addition, they should be starting to get the $300 a week benefit that everyone on unemployment is getting. It may take a couple weeks. We know the state systems aren't great at Killing these benefits out, especially when they change, But everyone eventually should get back pay that they're entitled to. Thanks Mitchell and buried in that economic relief package is also an effort to address climate change. It's a plan to phase out a type of refrigerant that's in many home and industrial air conditioners. These chemicals are known as H F sees and by some measures they trapped far more heat in the atmosphere than CEO to marketplaces. Scott Tong reports on how this ended up in the big economic package. Whenever a polluting product it's phased out a cleaner one has to be sold by somebody. So now the refrigeration and air conditioning industry smells opportunity. This U. S policy syncs up with a global effort to move away from coolants, known as hydrofluorocarbons, or HF sees the creates a global market for alternative appliances. Andrew Light is a senior fellow at the World Resource is Institute. Research group, the global market. For refrigeration air conditioning units is going to grow like 4.5 times in the coming decades. That is if countries like China and India joined the phase out. Having it ratified an international agreement on this, and neither has the U. S. The incoming Biden administration wants to change that, as does the trade group, the Air conditioning, heating and refrigeration Institute. Here's the Institute's Samantha Slater, perhaps is the United States makes a move to do that. They're over 100 other countries who have already ratified so we feel perhaps we're a little bit behind and that will spur on some of the other. Major countries as well. This measure hits too sweet spots, the environment and jobs. Oh, Ben Lieberman at the Competitive Enterprise Institute finds it too good to be true, he says. Earth friendly coolants and a C units cost more. The losers in all of this will be home owner's car owners, as well as business owners like restaurants and supermarkets and convenience stores that have a lot of refrigeration equipment. Transition to new cooling units would occur over nearly three decades. I'm Scott Tong for Marketplace. On Wall Street today. Traders seem to like that the relief package was finally getting done. We'll have the details when we do the numbers. Our lives have been flipped upside down this year, and so much has changed that it could be hard to keep up with it all. So for a few minutes, we're going to look at what the past year has meant.

Coming up next