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Passage of Unemployment Compensation Extension Act of 2009
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November 9, 2009
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I rise in strong support of the emergency extension of unemployment benefit passed yesterday for States with high rates of unemployment like my home state of New Jersey. Today's passage of the Worker, Homeownership, and Business Assistance Act of 2009 is the final step before it is presented to President Obama for his signature.
As I said in September when we first considered this measure, I hear all the time from central New Jersey residents who are working hard each day to find a new job. Recently, a Mercer County resident wrote me to say his wife had been out of work for 11 months. He wrote to say, ``The jobs are just not available for her to go back to work.'' This bill answers his plea and the pleas of countless other out of work New Jersey residents to extend unemployment benefits while they continue to search for employment.
In tough economic times, Congress and the President have worked together to extend unemployment benefits when needed. The previous extensions of unemployment insurance during this current recession have helped many New Jersey residents keep a roof over their head and food on the table when times were tough. In this tight job market and with the economy just starting to show signs of recovery, there are still six unemployed workers for each job opening and more than 5 million people who have been unemployed for more than 6 months.
The Unemployment Compensation Extension Act of 2009, H.R. 3548, would extend by 14 weeks unemployment benefits for individuals who have exhausted their current benefits in all States and by an additional 6 weeks for individuals who live in States with an unemployment rates above 8.5 percent.
Our Government must help those in need as they seek new work. Morally, it is the right thing to do and the economists tell us that unemployment benefits are one of the most cost-efficient and fast-acting forms of economic stimulus.
The bill does not add to the deficit, by off setting its cost with a 1 year extension of a employment tax that has been in place for 30 years.
Once this bill is signed into law it is estimated that the extension of unemployment benefits will help more than 1.3 million out of work employees.
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