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Washington, D.C., June 12th – Congressman Jim Moran, Virginia Democrat, announced today that the House approved legislation to aid workers who have lost their jobs as a result of the recent economic downturn. The Emergency Extended Unemployment Compensation Act (H.R. 5749) will immediately provide up to 13 weeks of extended unemployment benefits to jobless workers in every state. The measure was approved by a vote of 274-137.
“Our economy is teetering on the brink of recession, if not already in one. People are losing their jobs; 130,000 Virginians are currently unemployed,” said Moran. “Unemployment compensation will keep the families of these workers fed and sheltered, providing needed time to find new jobs and get back on their feet.”
Americans across the country are facing rising costs of living. We have just seen the largest monthly increase in unemployment in 20 years. For the fifth straight month, the economy lost jobs and unemployment rose from 5.0% in April to 5.5% in May. The economy has lost nearly 325,000 jobs this year and 8.5 million Americans are unemployed.
The legislation approved in the House today would benefit 3.8 million unemployed Americans -- providing up to 13 weeks of extended unemployment benefits in every state to workers who have exhausted their 26 weeks of regular unemployment benefits. In states with higher levels of unemployment (six percent or higher), an additional 13 weeks would be available for a total of 26 weeks of extended benefits. The extended benefits will be paid for through the federal unemployment trust fund.
While extending unemployment benefits is one of the most cost-effective and fast-acting ways to stimulate the economy, the Bush Administration opposed the legislation considered in the House today. For every dollar spent to provide unemployment benefits, the economy receives $1.60 in return.
“I urge the White House not to block assistance that can mean the difference in keeping families off the streets and their children fed and clothed,” added Moran. “Given our economic collapse occurred on the President and his Republican allies’ watch, they should feel a particular obligation to provide relief.”
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