07-22-2010

Senate Passes Unemployment Benefit Bill

The US Senate yesterday passed a bill restoring unemployment benefits to millions of Americans who have been out of work for six months or more. President Barack Obama is poised to sign the measure into law after a final House vote on Thursday. It's a welcome relief to 2 1/2 million people who have seen their benefits expire. Senator Al Franken said the vote was able to move forward yesterday, once the Senate was able to break the Republican Filibuster on it. "This is very important, we have the highest rate of long term unemployment that we have had since we have been taking the statistic," said Franken. "We have people who have bene trying to get work, who haven't been able to get it." The measure had once been considered routine but got caught up in a monthslong battle between Democrats and Republicans over whether jobless benefits should be financed with additional federal debt or with cuts to other programs. Franken says for ever dollar spent on unemployment insurance, more than a dollar 60-is recycled back into the economy. He said it was just too important not to pass. "They don't want unemployment insurance, they want a job," said Franken. "But they say if it weren't for the unemployment insurance, they would be out of their house." Officials in some states say retroactive payments could go out to some beneficiaries as soon as next week. In other states, those who are jobless may have to wait a few weeks.