Congresswoman Loretta Sanchez (CA-47), a member of the bipartisan, bicameral Joint Economic Committee, today voted to extend unemployment benefits for struggling Orange County families. The benefits will help an estimated 400,000 Californians whose benefits were cut off while Senate Republicans engaged in a seven-week standoff over the unemployment extension bill.
"Unfortunately the Senate let politics take priority over the millions of Americans struggling to make ends meet," said Rep. Sanchez. "These are decent, hardworking people who are trying to pay their bills, put food on their tables, and keep a roof over their heads. I proudly supported this unemployment benefit extension, which will deliver a lifeline to hundreds of thousands Californians. I only wish we had the opportunity to get these critical benefits to the people who needed them sooner."
This bill extends the Emergency Unemployment Compensation and Extended Benefits programs through November 30, 2010 and retroactively restores benefits to some people who already lost theirs.
Extending unemployment benefits is not only good for the unemployed; it is also one of the best and fastest ways to stimulate the economy, according to analysis from the nonpartisan Congressional Budget Office (CBO). Unemployment benefits were responsible for creating more than 1 million jobs since the recession started, and adding almost 2 percent to the gross domestic product according to the Economic Policy Institute. In fact, every dollar in unemployment benefits creates $1.61 in economic activity, according to economist Mark Zandi.