Unemployment Extension Bill Latest Update July 23, 2010 – President Barack Obama officially signed the Unemployment Extension Bill otherwise known as the Unemployment Compensation Extension Act of 2010. The bill passed the final senate vote 59-39. After that the house also voted to pass the bill, 272-152.
The sole democrat filibuster in the Senate who opposed the Unemployment Extension Bill in the senate was Sen. Ben Nelson of Nebraska. His main contention together with almost all Republicans except two was the $33 billion cost of the bill.
Sen. Majority Leader Harry Reid criticized those who continue to oppose the bill an said, “They’re betting on failure. They think the worse the economy is come November, the better they’re going to do election wise,”
Sen. Reid later added that there are almost two million people who are long-term unemployed. “These are not numbers. They are people,” says Reid.
The Republicans in the House of Representative was more kind as 31 Republicans agreed to pass te Unemployment Extension Bill but still there are 10 Democrats who beg to differ and voted against.
So what can Americans expect from the Unemployment Extension Bill or the Unemployment Compensation Extension Act of 2010?
The Unemployment Compensation Extension Act of 2010, extends unemployment insurance benefits for people who had been unemployed for more than 6 months until November 30, 2010.
The Unemployment Extension Bill will also be paying benefits retroactively for over 2.5 million people whose payment had been cut off since Congress denies an extension of the expiring unemployment benefits last June 2.
Here is a word of advice though for all those who are relying on Unemployment Extension Bill and unemployment benefits, this might be the last of the extensions that Congress will provide.
Annie Lowrey of the Washington Independent said that the Unemployment Compensation Extension Act of 2010 or the Unemployment Extension Bill signed into law might be the last and come December if nothing is done, it might be a very very bleak and sad situation.
Statistics shows that the median duration of unemployment in 2010 is twice that in 1965 and once the unemployment benefits end in November as provided by the Unemployment Extension Bill, unemployment might climbed to 9%.
The full text of the Unemployment Extension Bill or H.R.4213 – Unemployment Compensation Extension Act of 2010 is available HERE.
If you want to see who voted in favor and against the bill then check it out HERE.To receive updates from WWNN.co.uk directly to your e-mail, you can subscribe to us for free by entering your e-mail address here and confirming your subscription by clicking the link that will be sent to your e-mail address.