WASHINGTON, D.C. - House Democrats today succeeded in delivering an immediate 13 week extension of unemployment benefits to millions of American families struggling during the economic downturn. The provision, signed into law earlier today, would provide immediate economic relief to millions of Americans who are out of work through no fault of their own. The unemployment benefit extension was included in an amendment to the Fiscal Year 2008 Supplemental Appropriations Bill.
“This extension of unemployment benefits will give millions of families some peace of mind during the economic downturn," said Ways and Means Committee Chairman Charles B. Rangel (D-NY). “Across the nation, millions of folks have lost their jobs through no fault of their own and many have exhausted or will soon exhaust their unemployment compensation before finding new employment. Congress heard their pleas for help and we acted. Extending unemployment benefits for those in need should not be a partisan issue and I am glad we overcame political differences to provide this critical relief."
“We are providing a lifeline today for unemployed Americans to help them survive during these difficult economic times," said Income Security and Family Support Subcommittee Chairman Jim McDermott (D-WA). “Gasoline and food prices are sky high, and the economy continues to struggle to produce new jobs, so Americans need and deserve a helping hand to make it through a time like this."
The provision would:
* Provide up to 13 weeks of extended unemployment benefits in every state to workers exhausting the 26 weeks of regular unemployment benefits.
This extension was necessary because of the worsening economic situation nationwide:
* For five consecutive months, the U.S. economy has lost jobs. In total, 324,000 jobs have disappeared.
* 1.6 million workers are long-term unemployed (jobless for more than 26 weeks), representing nearly one out of every five jobless workers.
* The number of long-term unemployed Americans is higher now than when Congress last extended unemployment benefits in 2002.
* Extending unemployment benefits will also help stimulate an economic recovery. CBO states that extending unemployment benefits is one of the most cost-effective and fastest-acting forms of economic stimulus because the money is spent quickly.
