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Intorduction of Bills to Help the Unemployed

Floor Speech

Location: Washington, DC

INTRODUCTION OF BILLS TO HELP THE UNEMPLOYED -- (Extensions of Remarks - March 04, 2009)

* Mr. PAUL. Madam Speaker, today I am introducing two pieces of legislation to help the increasing number of Americans who, because of the recession, have lost their jobs. The first bill, the Unemployed Tax Relief Act, makes a laid-off worker's last paycheck tax free.

* The second bill, the Unemployment Assistance Act, allows unemployed people to make penalty-free withdrawals from accounts such as Roth IRAs and 401(k)s, to cover living expenses, health care, education, and job training expenses. People who make these penalty-free withdrawals while unemployed will be able to replenish their accounts once they have started new jobs.

* Madam Speaker, while we may disagree about the best solutions to the economic crisis gripping the nation, I hope my colleagues will at least agree on these commonsense measures and cosponsor the Unemployed Tax Relief Act and the Unemployment Assistance Act.

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