Levin: CBO Report Highlights One-Two Punch of UI Expiration
Ways and Means Committee Ranking Member Sander Levin today made the following statement after the Congressional Budget Office estimated that failure to extend the federal Emergency Unemployment Compensation program would cost the economy 200,000 jobs. Earlier today, Ways and Means Committee Democrats today released a new report highlighting the damaging effect of an expiration of the federal Emergency Unemployment Compensation program on military veterans and children of unemployed Americans. Without action, the federal program will expire on Dec. 28, immediately cutting off insurance for 1.3 million Americans.
LEVIN: “Failure to extend federal unemployment insurance would hit jobless Americans with a one-two punch just days after Christmas. In one fell swoop, 1.3 million Americans would lose all of their unemployment insurance and the economy would lose a vital stimulus, costing it hundreds of thousands of jobs. Congress must act now to prevent this financial cliff.”