Unemployment Extension News: Sen. Stabenow Introduces Tier 5 Unemployment Extension Bill – More and more senators are supporting the demand of the 99ers to pass a Tier 5 unemployment extension bill.
Earlier, Senator Charles Schumer of New York announced his support for the 99ers in an interview saying: “There are a number of people who have maxed out, they’ve been looking and looking for work but haven’t found it, and there is a separate act that would extend those benefits to them. Extending this was really important. There are some people who go beyond the 99 weeks and we’re gonna try to do that next.”
That was seconded by Senator Debbie Stabenow of Michigan as she kept a promise to hel the 99ers by saying: “I’m working on a bill to help them because, when there are five people out of work for every one job opening, it’s the right thing to do.”
That promise by Senator Stabenow was not broken as she has just recently introduced a Tier 5 Unemployment Extension Bill known as the “Americans Want to Work Act”. The bill proposed was not only to help the 99ers extend their expired unemployment benefits but also to cut taxes for businesses that hire new workers who have been looking for work the longest time.
According to her website, several other Senators are in support for this Tier 5 Unemployment Extension Bill and these are Senators Charles Schumer (D-NY), Harry Reid (D-NV), Dick Durbin (D-IL), Carl Levin (D-MI), Bob Casey (D-PA), Chris Dodd (D-CT), Sherrod Brown (D-OH), Jack Reed (D-RI), and Sheldon Whitehouse (D-RI).
If passed, this will be a very favorable bill for the unemployed Americans since it will not just provide unemployment benefits for them but will also give incentives for those companies who will hire them as the HIRE Act tax credit which was signed into law earlier this year will be extended through 2011. The role of the HIRE Act tax credit is to cut payroll taxes for businesses that hire workers who have been out of work for longer than 60 days and also gives them a $1,000 general business tax credit for each worker employed for at least a year. The Stabenow bill also doubles the tax credit to $2,000 if businesses hire workers who have totally exhausted their unemployment benefits.
Furthermore, the Tier 5 Unemployment Extension Bill being proposed by Senator Stabenow will also provide 20 additional weeks of unemployment insurance for individuals in states like Michigan with an unemployment rate of 7.5% or higher. This tier will benefit people who have exhausted all of their benefits. In order to receive this tier, individuals would still need to meet regular unemployment insurance law requirements.
We are in support of the 99ers praying for this Tier 5 Unemployment Extension Bill to push through. We hope that the more and more Senators will emerge to support this bill. Kudos to all Democrats working to pass this bill and rest assured that the 99ers will be there to support you come elections this coming November.
For all 99ers, most especially in the state of Michigan, please share your unemployment story to Senator Stabenow here. She needs to hear stories from families so she can explain the importance of this bill to her colleagues from other states.