Horsford: U.I. Expiration Cost Nevada $70 Million in First Quarter of 2014

Press Release

Today, Representative Steven Horsford (NV-4) highlighted a new state-by-state analysis by House Ways and Means Committee Democrats that outlines nearly $5 billion in economic losses due to the expiration of unemployment insurance.

"Not only has Congress' failure to extend unemployment benefits greatly hurt the lives of 2 million Americans, including more than 26,000 Nevadans, it has also hurt our states' economies, draining money that goes right back into the economy, creating jobs and spurring growth," Horsford said.

"The Senate is expected to pass a bill to extend this critical economic lifeline to hard-working Americans who lost their job at no fault of their own. I urge Speaker John Boehner to bring up a vote in the House. Our constituents cannot wait any longer. The time to act is now."

Nearly 72,000 Americans are losing unemployment insurance every week, including 842 Nevadans.

Representative Horsford is a lead sponsor of the Stop Foreclosures due to Congressional Dysfunction Act, introduced by Representative Matt Cartwright (PA-17). The legislation would impose a 6-month moratorium on foreclosures for individuals who have lost their emergency unemployment compensation (EUC) due to recent congressional inaction.

"Until we do the right thing by extending unemployment insurance, we must do everything we can to keep these families with a roof over their heads," Horsford said.

In addition, Rep. Horsford and Rep. Cartwright sent a letter to FHFA Director Mel Watt to take action and use his authority to establish the 6-month moratorium if Congress fails to act to pass the legislation.

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