The extraordinary safety net that has buoyed financially stressed Americans during the coronavirus pandemic is starting to fray.In the coming weeks, the jobless will likely no longer receive an extra $600 in their weekly unemployment checks.

That means the unemployed will have to rely solely on state weekly benefits averaging $370, according to Goldman Sachs estimates.“A huge share of jobless people will be forced to exist on much less than what they had before,” says Heidi Shierholz, an economist at the left-leaning Economic Policy Institute.The Heroes Act, passed by the House of Representatives, would extend the perk until early next year, but the Senate is unlikely to approve the legislation. The additional $600 a week in federal unemployment benefits, included in the CARES Act, is set to end July 31.

Some states are ending it a week earlier, on July 25. But that extra cash, currently $600 a week, will end after July 31.

Several electric utilities -- including Con Edison, National Grid, PSE&G, and NV Energy – have no plans to end their suspensions of shut-offs in the near-term. Goldman Sachs believes Congress ultimately will extend the payment but at $300 a week.The Treasury Department pushed the due date for 2019 federal income taxes from April 15 to July 15, now just a few weeks away.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump on March 27th, 2020.

That grace period will end June 30 for providers such as Verizon, AT&T, Comcast and Atlantic Broadband, in keeping with a pledge advocated by the Federal Communications Commission. Especially people affected by COVID-19.

“We are very concerned about a wave of evictions and a spike in homelessness.”Homeowners could suspend their mortgage payments for up to a year for federally backed mortgages, the CARES Act says. Especially people affected by COVID-19. But some of those bans have ended and 12 states never took steps to halt evictions. Yet an unprecedented 22 million jobs were shed the previous two months and the unemployment rate was still 13.3% in May, near the highest since the Great Depression.While a solid recovery is anticipated in the second half of 2020, unemployment is expected to hover near 10% by year’s end, up from a 50-year low of 3.5% in February. After that, landlords can issue a notice to evict but can’t remove tenants for another 30 days. My unemployment benefits have ended or soon will end.

All rights reserved. Filers, of course, can ask for an extension, though they would owe interest on any tax they owe, as usual.Tenants of apartment buildings financed by a federally backed mortgage, such as Fannie Mae or Freddie Mac, could not be evicted for failing to pay rent for 120 days, a grace period that ends July 25, under the CARES Act. The CARES Act, among other things, raised the amount of weekly benefits.

Goldman Sachs says in a recent research note that it expects some of the programs to be extended in some form, though they likely won’t be as generous.And banks and utilities have said they’ll work with customers who have trouble paying bills.But the spirit of unqualified aid that prevailed during the worst of the crisis, much of it included in Congress's $1.8 trillion CARES Act, is fading.The phaseouts come as states increasingly allow businesses shuttered by the outbreak to gradually reopen. Even small businesses that got PPP loans could be eligible, the research firm says.Another option, Goldman says, is for Congress to allow some stressed firms that received PPP loans to get another one. The CARES Act provides fast and direct economic assistance for American workers and families, small businesses, and preserves jobs for American industries.

The companies generally say they’ll work with customers experiencing financial hardship to set up payment plans or modify the amount due in some cases. © 2020 Oregon Employment Department. Twenty-four states are now processing evictions, a figure that’s likely to climb to at least 30 states by the end of June, even though tens of millions of Americans remain unemployed.“Back rent is coming due, and renters are no more able to pay it now than they were at the beginning of the crisis,” says Diane Yentel, CEO of the National Low Income Housing Coalition. Site last updated: August 12, 2020 Many tenants who don’t pay their rent can be evicted. The increased unemployment benefits have an expiration date — an extra $600 per week the act authorized ends on July 31. The grace period for renters of single-family homes ends Aug. 31. CARES Act and COVID-19. But the economic impacts of the pandemic will last more than a handful of months. The new federal CARES Act makes this possible.

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