Grayson: Emergency Unemployment Insurance Must Be Restored

Press Release

A report released today projects a whopping $3 billion loss to the U.S. economy due to the expiration of federal Emergency Unemployment Insurance. The $3 billion estimate only covers the first two months of 2014. The state-by-state analysis predicts a nearly $129 million blow to Florida's economy, placing it in the top ten hardest-hit states in the country.

Emergency federal unemployment insurance expired in December of 2013 after House and Senate Republicans blocked an extension of the program, which supports hardworking Americans who are still struggling to find employment. More than 1.7 million Americans have lost their extended unemployment insurance as a result, including an estimated 73,000 Floridians.

"Unemployment insurance is a crucial lifeline for millions of Americans who are struggling to find a job," Grayson said. "Families all across the nation and right here in Florida will be unable to feed their families, remain in their homes, or continue to look for a job. Unemployment insurance helps those who have lost their job and are actively searching for employment. These people want to get back on their feet, but House and Senate Republicans are kicking the chair out from underneath them. And the consequences of this are not limited to the unemployed -- it will damage our already-sluggish economy. Unemployment insurance acts as an economic stimulus. Without it, we're shortchanging our economic recovery. We cannot afford to wait any longer. We must restore Emergency Unemployment insurance immediately."

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