Rep. Towns Votes to Secure Extension of Unemployment Benefits

Press Release

U.S. Rep. Edolphus "Ed" Towns (NY-10) voted this week to extend unemployment benefits for millions of Americans who have earned them through a lifetime of work and lost their jobs through no fault of their own. The House of Representatives voted yesterday to pass the Senate amendments to the Unemployment Compensation Extension Act of 2010 that will retroactively extend unemployment insurance benefits to millions of American families through November 30, 2010. President Obama signed the legislation, H.R. 4213, into law yesterday evening.

"While we continue working to create jobs, I know the best way to support our economy is to help keep those in need on their feet. That is why I fought hard to extend unemployment benefits for the people of New York," said Rep. Towns. "I am pleased the president moved quickly to restore these critical benefits."

Extending unemployment benefits not only directly helps the unemployed -- it is one of the most efficient ways to stimulate the economy, according to analysis from the nonpartisan Congressional Budget Office (CBO). It is estimated that every dollar in unemployment benefits creates $1.61 in economic activity. Furthermore, according to the Economic Policy Institute, unemployment benefits were responsible for creating more than 1 million jobs since the recession started and for adding almost 2 percent to the gross domestic product.

"I was proud to vote for this important legislation that will create jobs, lower taxes for the middle class and help train American workers for the jobs of the future," said Rep. Towns. "I will continue to ensure that American families have access to the unemployment benefits they worked hard to earn."

Source