NLBMDA opposes extension of $600 unemployment supplement

economic stimulus

The National Lumber and Building Material Dealers Association has sent a message to its members encouraging them to urge their Congressional representatives to oppose an extension of the $600 supplemental unemployment benefit in coming COVID-19 relief bills.

“As Congress continues negotiations this week on a “Phase 4” COVID-relief bill, NLBMDA encourages members to contact their elected offices and ask them to oppose an extension of the $600 per week supplemental unemployment benefit that was originally included in Coronavirus Aid, Relief, and Economic Security (CARES Act) and expired on July 31. NLBMDA has created a grassroots alert which can be accessed by clicking here.”

The Congressional Budget Office (CBO) has estimated that if the additional funding is extended for another six months, then five out of six beneficiaries would receive more from unemployment than what they could expect to earn working, NLBMDA added, citing studies such as one from the University of Chicago, which found a significant number of individuals would earn more while unemployed than returning to work.

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“This disincentive will leave employers short staffed and negatively harm workers who will spend time out of the labor market,” NLBMDA added.

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