An Extension of Unemployment Benefits Could Come in the Near Future
House Bill Hopes to Raise Taxes to Pay For, Among Other Things, Extending the Expiration Date for EUC Benefits
According to a recent story on Dow Jones Newswire, The House Ways and Means Committee is working on a bill that proposes a tax hike on fund manager pay and venture capitalists. How does this tie into an extension of unemployment benefits? Here is the fourth paragraph from that article:
"The proposed tax hike on fund manager pay is a linchpin of a $180 billion bill to extend expired tax cuts and federal spending programs like unemployment benefits and Cobra health insurance. {Committee Chairman Sandy} Levin {D-Mich} said he expects the bill to come to the House floor next week, with Democratic lawmakers aiming for final passage by the end of May."
Before we jump to any conclusions, this story DOES NOT say there will be a fifth extension of unemployment benefits. Instead it appears that this bill will extend the June 2, 2010 deadline for Emergency Unemployment Compensation (EUC) benefits. As written in a recent article on TheHill.com:
"The package could hit the House floor soon, as the tax breaks are being packaged with spending measures, including an extension of unemployment benefits, that are set to expire next month."
What does extending the EUC deadline mean?
Let's say you are on Tier III of EUC benefits. If the June 2nd deadline comes before you qualify for Tier IV, your benefits end once you finish Tier III. If the deadline is extended past June 2nd, someone on Tier III would have more time to qualify for Tier IV benefits. So it's a matter of finishing one tier before the deadline so you can get to the next tier.
What About A Tier V?
A number of jobless Americans have joined grass roots organizations and signed petitions to get Congress to install an official fifth extension (Tier V) of unemployment benefits. Many of these groups, like Tier V To Survive and the 99ers, say they desperately need the fifth extension just to make ends meet in a very tough economy. Will they get their wish? In a previous story I wrote here on Associated Content, Senator Chuck Schumer (D-NY) hinted in a letter to a constituent that a fifth extension could be in the future. To read that article, click here.
In the meantime, the wait continues for America's unemployed......
Sources:
Budd, Jennifer, As the Jobless Rate in America Remains High, the Unemployed Demand a Fifth Extension of Unemployment Benefits, Associated Content, May 7, 2010
Budd, Jennifer, Will There Be A Fifth Extension of Unemployment Benefits? Maybe, Associated Content, May 4, 2010
Heflin, Jay House Democrats look at business taxes to pay for popular credits, The Hill website, May 12, 2010
Vaughan, Martin No Carve Outs From Fund Manager Tax Hike, Rep Levin Says, Dow Jones Newswire, May 11, 2010
State of New Jersey Department of Labor and Workforce Development website, Unemployment Benefit Extensions
Published by J Budd, RN - Featured Contributor in Health & Wellness
I am a registered nurse and former radio broadcast journalist in the NYC/NJ area for over a decade. Some of the stations I have worked with include Bloomberg News Radio, Sirius Satellite Radio, Fox News Rad... View profile
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21 Comments
Post a CommentI have been out of work since last May at a company I had workrd for Nine years. My benefits are now exhausted as they say. I am reading on this page about tier 4 and tier 5. I want to know what happened to tier 3?I have also been seeing things written about 99 weeks of extensions. Is this only in certain states? I finished my tier 2 and that was that.
When?Is congress past the new extended benefit for unemployment
Yo tambien ha trabajado toda mi vida, necesitamos que pasen la extension para mas desempleyo. No es la culpa de nosotros que los dos partidos republicanos y democratas so se quieran ayudar uno al otro para pasar esta ley.
AMERICA, get ready to buy as many firearms and ammuntion as you can afford, sadly, it has come to that !!!!
I have always been told you have to help yourself before you can help others.Everyone knows that to be true,so why can't we help those of us that need it here in America instead of the country's that are making trouble for the world.
we still need signatures for the pettions 99er'and tier 5 to survive. we are close to 28,000 and it will be delievered to congress. sign up at www.change.org we need more unemployment benefits not just to move the dates back for only the newly unemployed to start there benefits.another web site www.unemployed-friends.com for email and phone numbers for your local representatives.along with state by state moderators for questions. a u-tube video tier 5 to survive. do research and join us.
November is coming, and we do not have short memories. We either connect, and move on to the next level, or the voters connect, and you move on to whatever you will do when you are out of office, GOT IT? additional fact, the money provided with a TIER V goes directly back into the local economy, and in it self is a stimulator we all know this to be true, not rocket science. As I key this, I have had NO income for 2 months, and am not sure what tomorrow brings, I assure you I think many things, most are not good at this point. I know I am not the only person in this boat, and can say without a doubt what I have just posted here is echoed by many hundreds of thousands. I know you, in office will do the right thing and will create a TIER V, it is demanded by the people.Try to have a nice day, I will not be able to.@boilingskies / boilingskies@gm ail.com contact me, I'd be more than happy to elaborate on this subject. thanks for you time. :(BY Thomas W on 05/14/2010 at 11:24
Check out this website http://worldnewsvine.com/2010/05/tier-v-99ers-unemployment-petition-readies-for-washington/. Issa's willing to travelt to DC to hand deliver the Tier V petition. If you want help you have to help yourselves and the people who are in the same boat. It's harder to ignore a person than a fax.
OMG>they say unemployment can't be forever, as the reason for any delay in helping with a tier 5 extension? Give it a rest Senators and stop giving 100's of billions of dollars to Pakistan each year!A trillion dollars a year in foreign reported aid!Term limits are needed!The time to take back our govt is now!!!Vote them out!Tell ur friends and family all incumbents must go!!!!
Senator Debbie Stabenow:Phone=(202)224-4822
Senator Sherrod Brown:Phone=(202)224-2315
Senator Robert Casey:Phone=(202)224-6324
Senator Chris Dodd:Phone=(202)224-2823
Senator Al Franken:Phone=(202)224-5641
Senator Arlen Specter=Phone(202)224-4254
Also here is Senator Harry Reid's Phone to Call anytime=(202)224-3542