On the recordMay 5, 2011
I rise today to announce the introduction of a bill that, if enacted, would empower the States to more wisely spend the $31 billion in unemployment funds that have been allocated to them for the remainder of this year. This bill will allow states to avoid job-killing unemployment tax hikes while strengthening the safety net program for unemployed workers. I am honored to introduce this legislation simultaneously with a bill being introduced today in the House by The Honorable Dave Camp, Chairman of the House Ways and Means Committee. The Jobs, Opportunity, Benefits and Services Act of 2011, or JOBS Act for short, is just that. A pro jobs bill that goes to the heart of what unemployment benefits are meant to be: not a permanent welfare payment, but a bridge to help unemployed workers until they can find a new job. A hand up, not a hand out. This bill is sorely needed. Since the recession began, 33 States have borrowed $48 billion in Federal funds to pay for unemployment benefits. These loans, if gone unpaid, will result in increased taxes on employers and job creators. Three States already have been forced to do so, and experts predict that 21 additional States will be required to raise taxes on jobs this year if nothing is done. The JOBS Act allows states the flexibility to manage their unemployment funds to pay benefits, reduce their borrowings, or establish programs to help unemployed workers get jobs.…
