In another effort to extend unemployment benefits for Nevadans, Congresswoman Dina Titus of Nevada's Third District voted today for the Restoration of Emergency Unemployment Compensation Act. This important bill, which passed by a vote of 270 to 153, was brought up under a rule requiring a simple majority to pass after more than 80 percent of Republicans voted against it on Tuesday.
"Too many Nevadans cannot wait any longer for the passage of this critical extension of unemployment benefits," Congresswoman Titus said. "Our state faces unprecedented economic challenges, from record unemployment to record foreclosures. With 14 percent of Nevadans unemployed, we all know a friend, a family member, or neighbor who has lost a job as a result of the deepest recession in a generation. It's time that we stand up and fight for them by extending unemployment benefits that will help them weather this economic storm."
The bill extends the Emergency Unemployment Compensation and Extended Benefits programs through November 30, 2010. This would retroactively restore benefits to people who started losing their benefits as early as the end of May. Approximately 22,400 Nevadans are estimated to lose unemployment benefits by July 3 if an extension is not signed into law. With every dollar in unemployment benefits creating at least $1.63 in economic activity, according to economist Mark Zandi, extending unemployment benefits is one of the more effective ways to inject demand into the economy.