Expired Jobless Benefits Cost Economy Billions, But Some States Reject Trump's Aid
The expiration of emergency jobless benefits is draining $15 billion a week from the U.S. economy. President Trump has offered to replace half that money, but states have been slow to accept.
President Trump's plan to boost unemployment benefits temporarily by $300 a week is getting a fairly cool reception around the country.
Since Trump made the offer earlier this month, fewer than half the states have taken him up on it.
"We have five states that have already been approved," Treasury Secretary Steven Mnuchin told CNBC on Tuesday. "We have another four states that have submitted and about another 10 states that are in the process."
Trump proposed that expired last month. The lack of buy-in from the states leaves a big dent in the spending power of tens of millions of jobless workers.
