Congresswoman McCarthy Votes to Extend Unemployment Benefits
Press Release
Today, Rep. Carolyn McCarthy voted to stand with American families, extending 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 benefits are a proven boost to the American economy, shown by economists to create jobs as families spend into the economy.
"In spite of optimistic economic trends, countless Americans are still struggling to make ends meet. High rates of unemployment and foreclosure are clear indicators that we, as a nation, have much to do to facilitate and foster economic change," said Congresswoman McCarthy. "In these uncertain economic times, I am proud to stand up for our economy and for American families to make sure they have the unemployment benefits they've worked for."
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 and former John McCain advisor, Mark Zandi.
"I know that the best way to help the American economy is to keep its people on their feet, while we continue working to create American jobs. That's why I fought to extend unemployment benefits for the people of New York's 4thDistrict," said Congresswoman McCarthy.
While we are creating jobs, lowering taxes for the middle class and helping train American workers for the jobs of the future, Republicans are clinging to the policies that created this mess. In fact, leading Republicans even admitted their plan to return to "the exact same economic policies" as the Bush administration.
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