Unemployment Advantages Bill Does Not Pass Congress

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This afternoon, the House of Representatives unsuccessful to pass a joblessness expansion. The joblessness expansion would have added an extra 12 weeks to advantages. Advantages for a million or more individuals will start expiring on Nov. 30. If the extension does pass, these people would be given a reprieve.

Exactly what you should learn about unemployment expansion

The unemployment expansion bill that the House failed to pass today would have added additional time to the federal jobless rolls. A state will cover only a certain amount in unemployment advantages. Usually this amounts to about 26 weeks. Federal joblessness extensions then kick in. There are about 73 weeks in federal joblessness expansion advantages. The unemployed get these benefits paid still. States administer the program, however the federal govt funds it.

Unemployment extension bill isn’t able

Unemployment extensions recently have all gone through. The government would vote to extend advantages eventually. The House and U.S. Senate debated the $34 billion cost of extending benefits six months ago. This was six months ago. Extensions were made retroactive, or those still on the joblessness rolls would get the cash they would have otherwise, whenever Congress did have any kind of expansion.

Joblessness extension as a negative thing

If the extension does not pass, then advantages could be lost by millions of people. The reason for joblessness insurance was to insure things going wrong. That was the only reason. The joblessness extensions are taking a larger and larger toll on the budget as rolls grow. Some economic theory states that supporting the unemployed is an important part of recovery in a weak economy – having no money makes it tough to contribute. At the same time, others say unemployment extensions are costing far too much cash, and the cash would be better spent on encouraging companies to hire. Are you affected by the joblessness extension not passing?

Citations

CNN

money.cnn.com/2010/11/18/news/economy/unemployment_benefits_extension/index.htm

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