Happy July 4th - 1.6 Million to Lose Benefits

TO BE HOMELESS!

June 24, 2010: Senate votes 57-41 = NO unemployment benefits extension... WTF!

The decision came after the Senate failed again to muster 60 votes to advance a package of tax cuts and emergency economic provisions.

UPDATED June 24, 2010 Back in session since the Memorial weekend break, the Senate still has not acted on expired unemployment benefits legislation. That means that 900,000 jobless workers have already lost their benefits, a number that will swell to an estimated 1.6 million people if an extension is not passed by the July Fourth holiday.

The average benefit check is $309 a week providing struggling Americans the cash they need to buy food, pay the rent or mortgage and other essentials.

The problem, as always, is getting 60 votes to overcome hurdles imposed by the Republican minority. But Republicans aren’t the only culprits, many Democrats are ignoring the plight of the unemployed. Another vote is expected Thursday or Friday.  Who voted nay in the last Senate vote on HR4213?

Neither basic economics nor basic decency seems to matter. To win votes for passage, the Democratic leadership has agreed to drop the extra $25 a week that was added to unemployment benefits last year as part of the stimulus package. That would cut $6 billion from the roughly $40 billion it would cost to extend benefits through November. And the Center on Budget and Policy Priorities estimates that dropping the $24 billion in aid to states will cause 900,000 public- and private-sector layoffs in 2011. Democrats also softened a provision that would raise taxes on investment fund managers by closing a loophole that allows some of the richest people in the world to pay a lower tax rate than their secretaries.

Passing HR4213 will help those that are eligible for Tier 3 or 4 Unemployment benefits but not those who have exhausted all benefits.

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