Today, Congressman Sires joined his colleagues in co-sponsoring H.R. 589, the Emergency Unemployment Compensation Expansion Act. This legislation was introduced by Congresswoman Barbara Lee (D-NY).
"While New Jersey's unemployment rate fell slightly in December 2010, it is still much too high and I believe that providing additional unemployment insurance is greatly needed," said Congressman Sires. "Our current economic situation has been particularly hard for those who have exhausted their unemployment benefits and have been unable to find work."
This legislation would add an additional 14 weeks of benefits to Tier I of the Emergency Unemployment Compensation program. The bill also extends the expiration date of federal unemployment benefits from June 2, 2012 to September 22, 2012. Currently, there are 4.4 unemployed individuals for every job opening. The non-partisan Congressional Budget Office has found that extending unemployment compensation is one of the most cost-effective and fast-acting ways to stimulate the economy
"I understand that the unemployment challenges are great, and I am working with my colleagues to ensure that the residents of the 13th Congressional District along with all New Jerseyans and all Americans can get back to work as quickly as possible," said Sires. "I am proud to be a co-sponsor of this important legislation and will push for its passage."