California, Self Employed, Queenie Kim discussed on Weekend Edition Saturday

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Lending liberally to financial firms so they can provide credit to businesses and households and the fed is buying corporate debt another program helps money market funds made heavy withdrawal demands the economy has suffered none the less but federal reserve bank presidents Raphael Bostic of Atlanta and Robert Kaplan of Dallas expect a strong rebound wants restrictions on activity are lifted for NPR news I'm Steve Beckner this is NPR news from KQED news I'm Queenie Kim president Donald Trump signed a two trillion dollar economic relief bill yesterday KQED's guy Maserati is here to explain how the bill will affect us here in the bay and guy I think what's top of mind for most folks right now is all the people who are out of work how is this bill expected to help them right well I think that's definitely top of mind where in the bay area this region wide lockdown has forced so many businesses to close lay off workers the biggest piece in this bill on that and it's a huge expansion of unemployment insurance if you're a minimum wage worker in the bay area making six hundred dollars from a job every week typically that unemployment is caps below three hundred dollars now Californians get to get that state unemployment and then get another six hundred dollars every week on top of that through the end of July and where does this leave gig workers consider independent contractors they don't traditionally qualify for unemployment rates typically they don't but those workers were included in this release bell so for example if you're an uber or a lift driver on the side and you've been laid off from your main job or have their hours cut you'd still apply for unemployment whatever that means W. two is coming from but if you're fully self employed those independent contractors will have access to a separate emergency fund through the end of the year where they can get unemployment and get that extra six hundred dollars a week for the next few months all right I know this is a massive bill but I'm sure there's folks who feel like they're wanting more right that would be California state government I mean look the state government's going to get an estimated fifteen billion dollars in that bill sounds like a lot but our state budget is going to take a huge hit as we see income tax sales tax capital gains tax all declining that's the money that's paying for frontline health needs first responders Medicaid or schools so state leaders already saying they're gonna need more than this bill provides all right that's KQED's guy Marsha Roddy.

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