Political Quotes

John Sarbanes: “The unemployment insurance trust funds have surpluses of approximately $20 billion. These moneys were paid into the…”

On the recordMay 14, 2003
The unemployment insurance trust funds have surpluses of approximately $20 billion. These moneys were paid into the trust fund for the announced purpose of paying unemployment insurance benefits in an economic downturn. Now we have an economic downturn. We have people out of work. We have the job market worsening, not improving. These surpluses ought to be used for the purpose for which they were intended; and that is, to provide extended unemployment insurance benefits. And those benefits ought to come ahead of any of the tax cuts. I urge my colleagues to support the Kennedy amendment.
Said by
John Sarbanes
Democratic · Maryland
Source
govinfo.gov

Editor's note · Context

Discussing the use of unemployment insurance trust fund surpluses during a downturn.

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