New Standalone Unemployment Extension Bill by Reid

Thursday, July 1st, 2010 1,361 views

Final night, Sens. Harry Reid (D-Nev.) and Max Baucus (D-Mont.), the Senate majority leader as well as the head from the Senate Finance Committee, launched a brand new unemployment extension bill. It can be not really strictly standalone: It contains an extension with the period of time where homebuyers can close on a house and claim the homebuyer tax credit, a modify agreed to inside the House yesterday, and other provisions.

Folks in Montana and across the nation are struggling to find jobs in this tough economy, and every day these benefits are lapsed is another day Americans worry how they will feed their families while they look for work,” Baucus said in a press release. “I urge my colleagues to stand with us to support American families and restore the unemployment insurance benefits that are often the only lifeline many workers have in this tough economy.”

Reid filed for cloture final night, and is functioning with Sen. Mitch McConnell (R-Ky.) to move the bill these days, even though Republicans have repeatedly objected to any measure that increases the deficit.

The new bill extends federal unemployment insurance benefits through Nov. 2010, and also the closing time period for qualification for that homebuyer tax credit to Sept. 30. It is technically a substitute amendment towards the killed jobs legislation.

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House Rejects Stand-Alone Unemployment Insurance Bill

Wednesday, June 30th, 2010 1,096 views

The House today failed to pass a stand-alone bill to extend unemployment insurance benefits (H.R. 5618). The final vote was 261-155. 277 votes (a 2/3rds majority of those present and voting) had been necessary below the suspension from the guidelines procedure that was utilized by the Democrats so that you can prevent Republican obstruction tactics.

Full roll call details can be discovered here.

Republicans opposed the bill because it is expenses, approximately $34 billion, have been not offset with new income. Since the financial crisis of 2008, Congress has routinely passed UI extension bills without having offsets since benefit payments to help the unemployed are regarded as “emergency spending” and are not subject to pay-as-you-go rules.

The bill that was rejected nowadays would have extended UI benefit payments, which expired in late May, until November 30, 2010. Without having the extension, some 1.7 million unemployed folks will lose their payment by Jul 3. Benefits for that unemployed will continue to run out at a rate of about 200,000 per week till an extension is signed into law.

This leaves Democrats with basically two choices for passing an unemployment insurance extension prior to the July 4 recess — find a revenue offset to pay for the costs that can pass by means of both the Senate and the House (which might be what Senate Vast majority Leader Harry Reid [D, NV] is talking to Republicans about today on the Senate side), or try again in the House under normal rules and see if they can overcome Republican dilatory tactics and poison-pills to pass it having a easy majority.

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