Sunday, October 4, 2009

Unemployment Extension hits speed bump

Submitted by Jesse Russell on October 4, 2009 - 1:33pm


What was smooth sailing for a bill in the House of Representatives to extend unemployment benefits an extra 13 weeks could be heading for choppy waters in the Senate.

Senators Harry Reid and Max Baucus proposed adding four weeks for every state and 13 weeks for the 27 hardest hit states with unemployment rates over 8.5 percent

Senator Jeanne Shaheen plans to introduce an amendment to the Reid-Baucus bill tat would instead give 13 extra weeks of unemployment to every state in the union plus four extra weeks for the hardest hit.

Her proposal calls for redirecting interest and dividends from banks who received assistance under the Troubled Asset Relief Program. In a letter to Baucus, Shaheen and 16 other Senators said the House bill is unfair because it excludes “hundreds of thousands of workers in 23 states.”

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Source:  Workers Independent News

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