Joblessness Benefits Not Going To Be Expanded, Congress Says
An expansion of federal unemployment advantages didn’t pass the Congressional vote this afternoon. Unemployment advantages would have been expanded by about 3 months, if the expansion would have passed Congress. If Congress takes no action by November 30, hundreds of thousands of people’s benefits will expire.
Info on the unemployment expansion
The House didn’t pass the unemployment expansion bill today. That means that the federal jobless roll won’t have any extra time. A state will cover only a certain amount in joblessness benefits. Usually this amounts to about 26 weeks. Federal joblessness extensions then kick in. You will find about 73 weeks in federal unemployment expansion benefits. The unemployed get these advantages paid still. States administer the program, however the federal government funds it.
Forget passing the joblessness extension bill
Unemployment extensions recently have all gone through. The government would vote to extend benefits eventually. The $34 billion cost of extending joblessness advantages caused a seven-week delay six months ago in the House and U.S. Senate. Any kind of expanded unemployment that Congress made was always retroactive. This means the cash they would have otherwise is given to those still on the joblessness rolls.
Unemployment extension as a negative thing
There are hundreds of thousands, if not millions of people who face losing their joblessness advantages if the expansion doesn’t pass. Insurance for when things go wrong was what joblessness insurance was all about. The extensions of joblessness are really hurting the spending budget. It is getting larger and larger. Economists say that even though it may be significant in a poor economy to support the unemployed, you can’t when there is not cash. Joblessness extensions are costing too much some say. They think that encouraging companies to hire would be a much better use of the money. Are you facing a loss of benefits as the unemployment extension did not pass?
Citations
CNN
money.cnn.com/2010/11/18/news/economy/unemployment_benefits_extension/index.htm
