How to get out of debt without losing any of your job.
That’s the gist of the government’s proposal to extend unemployment benefits to 3.2 million workers who are looking for work in the first three months of the year.
The stimulus package would extend benefits from July 1 to Oct. 1, but that would be in place for up to four months.
The administration has also set aside $30 billion for an emergency fund for unemployed Americans to pay for basic necessities like rent, food and gas.
It would also extend the benefits until Oct. 21 for a total of 12 months.
There are also a number of provisions in the package that could increase tax revenues, but there are no details yet on how.
The $30 million for a “emergency fund” would go to help cover basic needs, and there are also $30-a-month grants available to help those who can’t find work because of the economic downturn.
The government also is offering a $10-a, $30 “food stamp” benefit to those who work in restaurants and other businesses that can’t pay rent.
The proposal comes after months of discussion between President Barack Obama and Republicans in Congress.
Republicans in both chambers have been pushing to make unemployment payments permanent for months.
A $100-a.hour minimum wage could also be added to the proposal.
“If you are a business owner or a contractor, you could pay that much a day and not have to pay a dime more to the government,” Obama told a small group of reporters in an interview.
The unemployment bill passed by Congress last month also included a $1.2 trillion tax cut for businesses, which has led some to speculate the plan could be signed into law before Labor Day.