Home

Senate Passes Unemployment Extension Bill

E-mail Print PDF
User Rating: / 5
PoorBest 

Share this article:

Deli.cio.us    Digg    reddit    Facebook    StumbleUpon    Newsvine
Unemployed Americans will receive up to 20 additional weeks of unemployment benefits under a bill passed by the Senate this week, according to CNN. The Senate voted 98-0 Wednesday to provide continued relief to the estimated 15 million Americans currently drawing unemployment benefits. The bill provides at least 14 additional weeks of benefits, and 20 weeks [...]
Talk to a Debt Relief Expert

DebtValley maintains a network of debt relief experts within the Debt Consolidation, Debt Negotiation, Credit Counseling and Bankruptcy fields who can provide you with more detailed information on which debt relief option will work best in your situation.

Please fill in the form below FOR A FREE NO HASSLE CONSULTATION and debt relief consultant will be contacting you as soon as possible.

We respect your privacy. Filling in this form is subject to our terms of use and privacy policies.

Required*

 
Please enter your first name

 
Please enter your last name.

 
Please select your State

 
Please enter your home phone number.

 
Field not valid (required or bad value)

 
Field not valid (required or bad value)

 
Field not valid (required or bad value)

 Main Phone   Alternate Phone   E-mail 

 
Please select your preferred method of contact

 Morning   Mid-Morning   Afternoon   Evening 

 
Please select the best time to call you.

 
Please select your debt relief option


 
Please accept our Terms of Use and Privacy Policy.



  Refresh Captcha  
Field not valid (required or bad value)
 

Unemployed Americans will receive up to 20 additional weeks of unemployment benefits under a bill passed by the Senate this week, according to CNN.

The Senate voted 98-0 Wednesday to provide continued relief to the estimated 15 million Americans currently drawing unemployment benefits. The bill provides at least 14 additional weeks of benefits, and 20 weeks in those states where unemployment is 8.5% or greater.

The bill now moves to the House, which passed a similar bill in September providing up to 13 additional weeks of benefits. President Obama has shown support for extending unemployment benefits, and is expected to sign the bill.

In the Senate bill, benefits would be extended to those who exhaust their current benefits before December 31. Those whose benefits have already run out could reapply for additional benefits.

The additional unemployment would be funded by a supplemental unemployment tax on employers that would run through June 30, 2011.

7,000 Unemployed Lose Benefits each Day

CNN reports that 7,000 unemployed workers exhaust their benefits every day. And with just 3 million jobs for 15 million unemployed (a figure that doesn’t include under-employed or those who’ve given up on looking), that rate isn’t expected to slow soon—without help.

In September, the unemployment rate reached a 26-year high at 9.8%. October’s unemployment rate, due out tomorrow, isn’t expected to decline. Most experts expect unemployment to crest above 10% in 2010.

Unemployment and Bankruptcy

Unemployment is also closely tied with the bankruptcy filing rate. Personal bankruptcy filings reached a four-year high in October, with 135,914 consumer filings, according to the American Bankruptcy Institute. That total is the highest since the new bankruptcy law went into effect in October, 2005.

Update: The House passed the Senate’s unemployment benefit extension bill Thursday afternoon with a vote of 403-12. President Obama is expected to sign the bill Friday.


Read Full Article

blog comments powered by Disqus
 

Login



Sign-up today for a FREE MEMBERSHIP
Bookmark and Share

Polls

Top Reason Why You Are Deep In Debt
 

Popular Articles

Statistics

Members : 139
Content : 1075
Content View Hits : 33758
We have 13 guests online
MACEO Group, LLC

TALK TO AN EXPERT

Please fill in the form below FOR A FREE NO HASSLE CONSULTATION and debt relief consultant within the DebtValley network will be contacting you as soon as possible. Use of this form is subject our terms of use and privacy policy.

Required *

Please enter your first name
Please enter your last name.
Please select your State
Please enter your home phone number.
Field not valid (required or bad value)
Field not valid (required or bad value)
Please select your debt relief option
Please accept our Terms of Use and Privacy Policy.

  Refresh Captcha  
Field not valid (required or bad value)
 

Subscribe to Our Newsletter

Required *

Field not valid (required or bad value)
Field not valid (required or bad value)
Field not valid (required or bad value)
Field not valid (required or bad value)

  Refresh Captcha  
Field not valid (required or bad value)