OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Tax Extenders Act of 2009

Date: May 28, 2010
Location: Washington, DC
Issues: Unemployed and Low-Income Entitlements and the Safety Net Health Insurance

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Mrs. MALONEY. Mr. Speaker, I rise in support.

A new report from the Joint Economic Committee shows that extending unemployment benefits is not only the morally right thing to do, it is fiscally responsible.

The report focuses on unemployed disabled workers. By the end of 2010, the JEC estimates that 290,000 unemployed disabled workers will exhaust their unemployment benefits. Without extension of unemployment benefits, the JEC estimates that two-thirds of these workers will leave the labor force and move on to Social Security Disability Insurance.

Shifting these workers from the labor force and onto the SSDI rolls, the cost of inaction is a $24.2 billion lifetime cost.

By contrast, keeping these workers attached to the labor force by extending unemployment insurance benefits and COBRA premium subsidies is $721 million in 2010.

The JEC analysis concludes that the Federal Government can save $23.5 billion by extending unemployment benefits and avoiding a lifetime of SSDI for currently unemployed workers.

I urge a ``yes'' vote.

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