Senate Finance Committee Releases Revised Job Creation Legislation

Jun 24, 2010

By Elizabeth Lower-Basch

Lawmakers continue to negotiate terms of a much-needed jobs bill that would extend unemployment insurance benefits and provide other critical provisions to stimulate the economy and aid low-income families who have been hardest hit by the recent economic downturn.

The Senate Finance Committee on June 23 released yet another revised Senate version of the American Jobs and Closing Tax Loopholes Act of 2010 (HR 4213).  The bill, often called the "extenders" bill, passed the House on May 28, but two earlier versions failed key test votes in the Senate on June 16 and 17.

Because the Senate has delayed passing the legislation, unemployment insurance benefits have run out for thousands of workers searching for jobs. In addition, funds for other key programs hang in limbo.

This critical jobs bill extends the TANF Emergency Fund for another year, funds summer jobs for youth, and extends unemployment insurance benefits for the long-term unemployed. However, the Senate version eliminates the weekly $25 supplemental unemployment insurance payments and ends the Recovery Act increase in food stamp (SNAP) benefits as of June 1, 2014. The Senate bill goes further than the House bill in another area, though, continuing the Recovery Act increase in the share of Medicaid and child welfare costs paid by the federal government (called FMAP).  The House cut this provision from its final version. Unfortunately, the Senate bill does not extend health insurance subsidies for unemployed workers, a provision the House also dropped from its bill.

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