Title: Reduces Unemployment Benefits and Unemployment Insurance Contributions
Vote Smart's Synopsis:
Vote to pass a bill that reduces unemployment benefits for certain individuals and reduces the unemployment insurance contribution rate for new businesses.
Reduces the number of weeks for which an individual is eligible for unemployment benefits if the individual received a lump-sum severance package, and specifies that the reduction in the number of weeks shall be equivalent to the number of weeks of wages that would be required to earn an amount equal to the amount of the lump-sum severance package (Sec. 1).
Reduces the contribution rate for unemployment insurance for employers who start a new business from 4 percent to 2.7 percent, beginning in 2014 (Sec. 2).