Posted on 03/07/2014 6:29:35 AM PST by cotton1706
A group of GOP senators Thursday proposed a $10 billion plan to extend federal unemployment insurance benefits for five months without adding to the nation's deficit.
Sens. Dean Heller, R-Nev., and Susan Collins, R-Maine, are among the seven Republican co-sponsors of the plan, which would resurrect federal jobless benefits that ran out on Dec. 28 and provide retroactive pay.
The Senate could take up another vote on unemployment benefits next week. Democrats have proposed their own federal jobless pay legislation, which would keep benefits going for six months at a cost of $12 billion.
The Senate since late last year has been locked in partisan gridlock over whether to extend jobless pay and how, with Republicans insisting on offsets to pay for it.
The latest Democratic proposal would use savings in the farm bill to offset the cost, a nonstarter with the GOP.
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The Republican bill would cover the benefit costs by extending a waiver on pension rules so that companies would be allowed to contribute less, resulting in higher taxes paid to the Treasury. The bill would also raise revenue by eliminating the overlap of unemployment insurance and disability insurance, and would extend Customs User Fees until 2024.
The GOP bill includes provisions aimed at reforming the federal unemployment insurance program, which has been in place for more than five years.
(Excerpt) Read more at washingtonexaminer.com ...
NO MORE EXTENSIONS!! Guaranteed that the unemployment rate will drop in REALITY (as opposed to the Labor Department's cooked-books fantasy) as the layabouts get hungry and finally go back to work at whatever job they can find.
Just heard on the radio quote “the unemployment rate ticked UP one point, a sign that people are REENTERING the job market”
This is how convoluted they have made things. People are going back to work and the UNEMPLOYMENT RATE GOES UP!!
Of course, we all know the reason, the participation rate. Because there’s been no extension of benefits, lots of people who HAVEN’T BEEN WORKING are again looking for work and are thus “participating” so they are all of a sudden, UNEMPLOYED again.
In reality, those that aren’t looking for work are “unemployed” but to the government, you’re only “unemployed” if you’re not working but looking for work.
If there’s any merit to this bill, it will go absolutely nowhere with Harry Reid and the Donkeys. If it’s worthless, they’ll pass it in the Senate with RINO help.
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