Renewing Unemployment Insurance
More than 2.8 million Americans are waiting for Congress to act
Imagine having to decide between putting a roof over your head or food on the table for your family.
That is the difficult decision that millions of families have faced since December 28th when they stopped receiving federal unemployment insurance benefits. Without an extension, an average of 72,000 new workers will lose their unemployment insurance every week during the first half of this year.
Unemployment insurance is not a handout. Workers earn their benefits by paying into the program when they are employed. When they fall on hard times, unemployed Americans use these benefits to help them stay afloat as they search for a job. Without them, they cannot pay for the gas and phone bills that help them look for work and connect to potential employers.
Economic Impact
The Congressional Budget Office estimates that extending unemployment would save 200,000 jobs and grow our GDP by 0.2% this year alone.
Another study showed that at least $400 million has already been drained from local economies because of the suspension of these benefits. Recipients of unemployment benefits are more likely to take the money they receive and spend it on essential goods and services. When the unemployed don't receive those benefits, they cannot contribute to our local economies and our economy suffers as a result.
It’s simple economics.
Congressional Action
The Senate has approved a bipartisan deal to extend unemployment insurance for millions of Americans. The plan reinstates the program for the long-term unemployed and allows for retroactive statements to go out to more than 2 million Americans who lost their benefits in December.
It is time for the House to act and allow a vote to extend unemployment insurance benefits.