Christian Witness, Perspective, Political, , , , ,

Extend unemployment insurance – action needed

Leaders in the House majority plan a vote on HR 3630—a bill that would slash federal unemployment benefits in every state and cut federal UI benefits by more than half in the Renew unemployment insurance UIstates with the highest unemployment rates. Tell your Members of Congress and Congressional leaders to oppose these reckless and harmful cuts to unemployment insurance, and instead support swift action to fully renew the federal UI program through 2012.

Millions of hardworking Americans—nearly 2 million in January alone, and over 6 million in 2012—will be cut off from the emergency lifeline of federal unemployment insurance, unless Congress acts to fully renew the program before it expires December 31st. In the past three years, federal unemployment insurance has helped more than 17 million Americans while they’ve looked for work in the toughest job market since the Great Depression. Recent Census figures show that federal unemployment insurance helped keep more than 3 million from falling into poverty last year alone.

A January 2010 report from the nonpartisan Congressional Budget Office (CBO) looked at a variety of strategies for increasing employment and raising the gross domestic product (GDP), which is the market value of all goods and services that reach the consumer. It noted that for every dollar in UI benefits, $1.90 in economic benefit is created. The CBO looked at a variety of strategies to boost the economy — or to keep things from getting worse — such as investing in infrastructure, reducing income taxes, or cutting payroll taxes for companies that hire new people. Increasing aid to the unemployed offered the biggest bang for the buck, according to its estimates. Other studies such as that by Mark Zandi, chief economist for Moody’s Analytics, note similar results.

Congress has never cut back or allowed these programs to expire when unemployment was anywhere near this high for this long. Congress must act, and act now.

Tell Congress: Renew the full federal Unemployment Insurance program through 2012 Now! or call toll-free 1-888-245-3381.