Larson Lauds Passage Of Unemployment Compensation Extension Act
Today the House of Representatives passed HR 6867, the Unemployment Compensation Extension Act of 2008 by suspension of the rules. This bill extends unemployment insurance benefits for another 7 weeks in every state and would provide an additional 13 weeks in high unemployment states, defined as having a seasonally-adjusted, three month average total unemployment rate of 6 percent.
U.S. Congressman John B. Larson (CT-01), Vice Chair of Democratic Caucus, released the following statement after the passage of the H.R. 6867 the "Unemployment Compensation Extension Act of 2008:
"The U.S. economy has lost jobs every single month of 2008, a total of 760,000 jobs since the beginning of the year. Consequently, over the past 12 months, the number of unemployed Americans has increased by 2.2 billion. Unemployment insurance provides an important safety net for American families who find themselves unemployed and seeking jobs in this troubled economy. Without congressional action, nearly 800,000 Americans will have exhausted their unemployment benefits by the end of October.
"With 11,000 Connecticut residents facing exhaustion of their unemployment benefits in October, this important bill will provide an extension of up to 13 weeks to help those workers get back on their feet.
"At this time of great economic uncertainty, the American people need to know that their representatives are looking out for the interests of Main Street, not Wall Street. This bill is an investment to our greatest resource: the American people."