Government Unemployment Insurance: The federal government, through the U. These programs accounted for $9 billion in assistance, dwarfing state unemployment assistance.
Federal Pandemic Jobless Settlement (FPUC) was the largest program at $4.63 billion in Colorado. Approved under the CARES Act, it provided an additional $600 a week in unemployment benefits through . Pandemic Emergency Jobless Compensation (PEUC), also part of the CARES Act, provided an additional 13 weeks of assistance once state benefits ran out and extended $1.5 billion in Colorado.
Pandemic Unemployment Assistance (PUA) extended benefits to self-employed workers, freelancers and independent contractors for the first time. It provided $2.6 billion as of New Mexico payday loans the end of last year in Colorado. Other smaller federal unemployment programs provided $352 million in Colorado. The Colorado Department of Labor and Employment could not provide county-level breakouts of payments without a large data processing fee. Using each county’s share of continuing unemployment insurance claims in 2020, an estimate was made of how much the county received.
Swindle was a serious challenge with federal jobless apps, especially PUA, and also the state are overrun having benefit requests in the early weeks of your pandemic. Even though, the applying is actually a great lifeline to have thousands of out of work professionals. Government unemployment insurance coverage given 14.3% of federal pandemic recommendations Colorado acquired, therefore it is the next-premier way to obtain federal assistance inside the pandemic.
Emergency Rental Assistance System (ERAP): To head off evictions, Congress provided $25 billion under the Consolidated Appropriations Act of 2021 for an Emergency Rental Assistance program or ERA1 on . A second round, known as ERA2, worth $ billion was enacted under ARPA on . Colorado and 11 larger local governments received $385.1 million in the first round and $304.7 million in the second round from the U.S. Treasury. Difficulties in processing applications delayed approval times and slowed distributions.
With the purposes of this research, local rental guidelines finance was basically allotted to areas in accordance with the express they’d gotten as of just last year – as tracked by Colorado Division from Construction, that is supervising withdrawals. The study believed an entire shipment out-of loans in addition to latest wide variety received when you look at the per state may differ regarding forecasts. New U.S. Treasury was reallocating funds from states that aren’t expenses these to claims which might be. The latest due date having submitting ERA1 funds is actually for ERA2.
Towards the Feb. twenty-four, this new U.S. Treasury stated that $twenty five mil or higher than just 1 / 2 of Era fund had opted away across the country. Texas enterprises has actually primarily delivered earliest-bullet funds consequently they are now drawing into next bullet. Renters against monetary hardships not related with the pandemic are actually qualified to receive advice, as well as sufferers of one’s Marshall fire during the Boulder Condition. The new greater allowance will make it likely to be one to financing might be invested, even with Tx having one of the highest offers away from with the-date lease repayments when you look at the pandemic.
Coronavirus County and you can Regional Financial Data recovery Money (SLFRF): ARPA provided $350 billion to state, local and tribal governments to respond to and recover from the pandemic, with Colorado’s allocation, based on its population, at $5.76 billion or 9.1% of the total federal pandemic aid. Of that amount, $1.93 billion went to local governments, while the state received $3.83 billion. The money can backfill lost public revenues; provide premium pay for essential workers; support public health efforts; help alleviate economic impacts and fund water, sewer and broadband infrastructure. Within those confines, governments have wide discretion, but they are seeking more flexibility as the public health emergency eases. Funds must be obligated by the end of 2024 and spent completely by the end of 2026. This fund was the fourth-largest source of assistance that Colorado received.