Unemployment Extensions More Changes on the Way
Washington, D.C. – The Majority Leader closed today’s Senate session with a series of procedural measures regarding H.R. 4213 Jobs Creation and Tax Loopholes Act of 2010. Senator Reid states additional votes regarding both the Small Business Jobs Bill, and the Unemployment Insurance Extension, if an agreement has been reached will be held on Wednesday.
According to Senator Reid’s, press office, Majority Leader Reid (D-NV), and Senate Finance Committee’s Chairman Baucus (D-MT) introduced legislation to reinstate federal unemployment insurance benefits and extend the closing date for new homebuyers to qualify for tax credits.
“The bill that Chairman Baucus and I introduced today would restore critical assistance that unemployed workers depend on to help make ends meet,” said Reid. “In addition, we’re trying to extend the closing deadline for homebuyers in Nevada and across the country who have already qualified for the first-time homebuyer tax credit and need some extra time to close on their new home and experience the American Dream of homeownership. These common-sense solutions to help millions of Americans deserve bipartisan support and should be passed swiftly.”
The legislation introduced will retroactively reinstate federal unemployment insurance enabling those that have lost their benefits that expired at the end of May to receive the support they need while actively seeking employment.
Both Senator’s Reid and Baucus have been actively fighting for the rights on American’s that have lost their jobs by no fault of their own for months against all out Republican Party filibusters against America’s workforce.
The summary of today’s Reid-Baucus Substitute Amendment includes extensions of Emergency Unemployment Compensation (EUC) Program that was phased out the end of May 2010, which provided up to fifty-three weeks of extended benefits. The bill would extend the EUC program until November 30, 2010.
Additionally, the Extended Benefits (EB) program that states received 100% federal funding which provides an additional 13 to 20 weeks of benefits in certain States. That is 13 weeks for states at or above 6.5% unemployment, and an additional 7 weeks for States above the 8% threshold. The bill would be extended through November 30, 2010.
The bill also eliminates the penalty for part-time employment in the EUC program. This will allow states a number of options to allow EUC claimants to remain eligible for EUC programs when they become newly entitled to State Unemployment Compensation if switching to the State benefits would cause a reduction in their weekly Unemployment Check by at least $100 or 25 percent.
The Homebuyer Tax Credit program will also be covered by this substitute amendment allowing first time homebuyers to qualify for the Tax Credit up to October 1, 2010.
Three additional provisions have been added to the bill in efforts to save approximately $95 million over the next 10 years.
Posted by worldnews
on June 29, 2010. Filed under economic recovery,economy,Moderate,News,Politics,US Politics.
You can follow any responses to this entry through the RSS 2.0.
Both comments and pings are currently closed.
10 Responses to Unemployment Extensions More Changes on the Way
Movie Reviews
Movie Review | ‘Contraband’ Now Playing
‘Contraband’ another action packed crime thriller starring Mark Wahlberg is a story about a man attempting to leave behind a life he lived while doing what he can do to protect his family. Directd by Baltasar Kormakur starring, Kate Beckinsale, Mark Wahlberg, Ben Foster, Giovanni Ribisi, and Lukas Haas is Rate R as the movie [...]
Movie News | The Woman in Black
‘The Woman in Black’ is a story of the travels of a young lawyer only to discover that a vengeful ghost of a woman has been terrorizing the residents of this remote village. Directed by James Watkins starring, Daniel Radcliffe, Caran Hinds, Janet McTeer, Shaun Dooley, and David Burke this movie offers all the true [...]
Movie News | Man on a Ledge
“Man on a Ledge” a thriller about an ex-con threatening to take his life by jumping from a Manhattan skyscraper. Directed by Asger Leth starring, Sam Wortington, Elizabeth Banks, Jamie Bell, Ed Harris, and Edward Burns is a moving about a man (Sam Worthington) attempting to prove his innocence after being framed for the theft [...]
Paranormal Activity 3 | Movie Review
Paranormal Activity 3 is a continuing series exploring the world of the unexplained. Paramount Pictures continues to provide the thrill ghost hunters, and those enthralled with the world of the unexplained, unknown, or to some, simply the unbelievable. The directors, Henry Joost, and Ariel Schulman continue their theme of demonic possession, ghosts, curses and spells [...]
laura
June 29, 2010 at 9:19 pm
I pray it goes thru! I know I am not alone in saying we need HELP!
Like or Dislike:
0 
0
Patrick
June 29, 2010 at 9:59 pm
It is my most fervent prayer that Senators on BOTH sides of the aisle see the need for this bill to pass. There are too many of us who are desperate to see some sign of caring from the senate.
Like or Dislike:
0 
0
Lee
June 29, 2010 at 10:14 pm
I am willing to et it doesn’t pass and that they will site some reasons for it related to the other party. That in-fact is the sad part…. they are asking us to venture out on another holiday in limbo…while they enjoy their families. Of course by they I mean the senate.
Like or Dislike:
0 
0
Dianne
June 30, 2010 at 6:21 am
Living in Las Vegas, Nv is impossable to get work, you must extend the unemployment or their will be many more defaults on homes. It’s bad enough losing our Health Insurance. Do the right thing & bail out the average worker as you did the Banks & Car industry.
Like or Dislike:
0 
0
Sam
June 29, 2010 at 11:52 pm
It’s so funny, the senators tried to raise their own salary to 15.6 percent this year while they can’t pass the EUC bill for a million of Uemployment Americans suffer with their life, are they a human being?
Like or Dislike:
0 
0
Joy
June 29, 2010 at 11:59 pm
I too pray that the Senate quits just messing with us and passes this bill. My bills are backing up, as are thousands of others. Just remember to vote NO to the incumbents that have been in the Senate way to long and have lost touch with who they were elected by. We the people need to VOTE new people in.
Like or Dislike:
0 
0
Christy
June 30, 2010 at 8:49 am
Congress needs to take a look at the BIG picture here! By not extending benefits, houses, cars and every other daily needs will be stripped away (if they havent already) and families will seek out social services and any other means possible to sustain them. If they can’t make jobs then they need to help us provide for our families! What will happen to the economy of 10% of Californians lose EVERYTHING?! I say STOP FEEDING OTHER COUNTRIES for a time and put the money in your own country’s pocket and help OUR people!
Like or Dislike:
0 
0
Mary
June 30, 2010 at 1:09 pm
I don’t see why the senate can’t see what they are doing to the unemployed we didn’t ask to get laid off of our jobs, Please let them Pass the bill, and may GOD help us all, the bills are still coming, food need to be bought,Have they forgot!!!
Like or Dislike:
0 
0
Justyne Reyes
June 30, 2010 at 10:43 pm
It is interesting that the Senate is looking for a way to increase their income – while a big percentage of us are trying to hold on to the last few penny’s that we can roll, so we can get gas to look for that Job (and with the amount of jobs that are available I don’t have that many penny’s) I would LOVE to be working again… I spent a large part of my life working to advance to the position I was in before the lay-off hit. Now I make less in one month on Unemployment then what I used to make in one week. So, it is not a question of sitting back and racking in money- which by the way over the last 20 years of working I have more than paid into my unemployment benefits. I have never been out of work this long, and by next week I won’t have any electricity –water-gas-fuel-food-or a roof over my head. I say that all of you who are effected by this, VOTE next time elections come around- if the Senators and representatives of your state are not doing their jobs (for the people –by the people) then use your rights as an American and vote them out of office. I send prayers and hope to all of you who are struggling right now.
Like or Dislike:
0 
0
Volvo
July 2, 2010 at 11:39 am
We need an all democratic senate, and stop the lining of pockets by the GOP (greedy ole party) who are for the rich and have always been….
Like or Dislike:
0 
0