‘It is daunting to think about what the consequences will be.’ With no new stimulus deal, much of America’s temporary financial safety net will expire Dec. 31 – By Andrew Keshner, Jacob Passy, Jillian Berman, Elisabeth Buchwald, and Leslie Albrecht (Marketwatch) / Oct 21 2020
The help that Americans have been getting with rent, unemployment benefits, student loans, paid leave and more is scheduled to end soon
The prospect of another stimulus package before Election Day is uncertain, even as the White House and Democratic leaders kept talking Wednesday.
What is certain for now, however, is that many Americans who are struggling financially will soon see their temporary financial safety net end unless lawmakers intervene.
A wide range of financial assistance programs designed to help people stay in their homes, stay current on their student loans, keep their lights on and meet other financial obligations during the pandemic-induced economic downturn are scheduled to end on or before Dec. 31.
“It is daunting to think about what the consequences will be for families, individuals, businesses, our economy when the COVID-19 protections and financial assistance are no longer available,” said Jack Gillis, executive director of the Consumer Federation of America, a research, service and advocacy organization promoting consumer interests.
