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senate Bill S. 2149

A Five-Month Extension for Emergency Unemployment?

Argument in favor

Protecting unemployment insurance is critical to ensuring family stability and, consequently, the well-being of thousands of children. Long-term unemployed individuals receive neither a paycheck nor unemployment benefits. Need to enact emergency legislation for long-term unemployed is a problem that should never have arisen in the first place.

Argument opposed

Would encourage prolonged unemployment for many Americans and would be paid for using accounting gimmicks that would pose unnecessary risks to taxpayers. Separately, the bill provides only a quick fix: if backdated to ~January 1st, 2014, the legislation will expire before summer.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
    IntroducedMarch 24th, 2014

What is Senate Bill S. 2149?

Extends emergency unemployment insurance benefits for five months and provides retroactive payments to those who would have received benefits after the program expired in December 2013. 

Impact

Impacts the roughly 2.2 million people who lost their benefits on or since December 28th, 2013.

Cost of Senate Bill S. 2149

$10.00 Billion
The Congressional Budget Office said in a preliminary estimate that the emergency benefits would cost almost $9.9 billion while cutting the deficit by almost $9.4 billion through 2019. That’s because prepayment of Pension Benefit Guaranty Corp. premiums would generate almost $18.4 billion in extra revenue over the next five years.

More Information

Media:

Bloomberg: Senate Advances Long-Term Unemployment Benefits

Reed Seeks to Advance Bipartisan Help for Job Seekers 

Brookings Institute: How the Long-Term Unemployed Are Doing

Of Note:

-A recent report released by the U.S. Congress Joint Economic Committee shows that more than four million Americans, 37 percent of the unemployed, have been out of work for more than six months, making long-term unemployment one of the most significant challenges of the economic recovery.
 
-In addition, a House Ways and Means Committee analysis projected that the expiration of federal unemployment benefits cost the economy over $3 billion in January and February, including over $51 million in Wisconsin.


AKA

Emergency Unemployment Compensation Extension Act of 2014

Official Title

A bill to provide for the extension of certain unemployment benefits, and for other purposes.

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