Washington, DC - Washington, DC – Congressman John D. Dingell (D-MI15), co-sponsor of H.R. 3548, the “Unemployment Compensation Extension Act of 2009”, spoke about the passage of this bill that stands to help the tens of thousands of Michigan residents on the verge of losing their unemployment benefits.  The House passed the bill 403-12. 

 “While we remain focused on creating jobs and reviving a beleaguered economy, we all see it is taking a while to dig out of the mess President Obama inherited from the failed economic policies of the Bush Administration.  There is no substitute for a good job and steady income, but at a time when many families are struggling to keep the lights on, Congress must put aside our partisan differences to do what is best for our people and do what must be done to help them through this difficult period.  For my constituents in the 15th Congressional District, unemployed workers will see an additional 20 weeks in unemployment benefits, taking them well through the holiday season.  I hope this small relief will help the nearly 99,000 workers in Michigan who are expected to exhaust their benefits by December by putting them a few weeks closer to finding new employment.”

 The U.S Senate passed the bill last night.  It now heads to the White House for President Obama’s signature.

Extending unemployment benefits is one of the most cost-effective and fast-acting ways to stimulate the economy because the money is spent quickly.  Mark Zandi, chief economist of Moody’s Economy.com, says every $1 spent on unemployment benefits generates $1.63 in new economic demand.