Biden won’t seek extension of federal unemployment benefits

"The temporary $300 boost in benefits will expire on September 6th, as planned," Treasury Secretary Janet Yellen and Labor Secretary Marty Walsh co-wrote in a letter to Senate committee leaders on Thursday, according to USA Today.

"As President Biden has said, the boost was always intended to be temporary and it is appropriate for that benefit boost to expire."

The administration is instead advising states and cities that may want to extend the benefits to use their portion of the $350 billion in aid from the American Rescue Plan to provide additional week of benefits in areas where unemployment remains high and cases of COVID-19 are surging.

The secretaries said it "may make sense" to have a more targeted approach to the benefits.

Several states have already opted out of the enhanced benefits, citing issues with getting people back to work as worker shortages stretch businesses thin, with states that refuse the benefits seeing workers return faster.

Unemployment has dropped to 5.4 percent, the lowest number seen since before the pandemic.