Unemployment Extension Update - November 14th

Unemployment Extension Update – November 14, 2011

There are two separate unemployment extensions being discussed in Congress at the moment:

  • HR 3346 – The Emergency Unemployment Compensation Extension Act of 2011
  • HR 589 – The Emergency Unemployment Compensation Expansion Act of 2011

While they have similar names, the two pieces of legislation are quite different. We highlight the details, and how they might impact you, below.

 

HR 3346 – The Emergency Unemployment Compensation Extension Act of 2011

Federal unemployment benefits — the unemplyoment benefits you receive after the 26 weeks of Regular Benefits are exhausted — are set to expire on December 31, 2011. If this happens, as many as 2 million unemployed Americans will lose benefits in January 2012.

Last week, legislation was introduced that would extend these benefits through the end of 2012. As a reminder, these federally-funded unemployment benefits provide anywhere from 34 to 73 weeks of additional unemployment insurance after state-funded regular benefits run out.

Protect Yourself


  • Has someone in been looking at your credit history?
  • Has anyone tried to open accounts in your name?
  • Is your identity secure?

Find answers now.

Checking your own credit is easy and it won’t lower your score.

Get answers. Protect yourself.

See your credit score online.


The Emergency Unemployment Compensation Extension Act has support in Congress, and will definitely receive more attention in the coming weeks. If history is a guide, given the extensions that passed in the last two years, it seems likely that this bill will pass, even if it happens after the December 31st deadline.

 

HR 589 – The Emergency Unemployment Compensation Expansion Act of 2011

As mentioned, the Federal unemployment benefits provide extensions resulting in a total of up to 99 weeks of unemployment insurance. That said, millions of American workers have exhausted the total number of available weeks.

The Emergency Unemployment Compensation Expansion Act, sponsored by Representative Barbara Lee, would
add an additional 14 weeks of benefits for those who have already received the maximum number of weeks of Federal unemployment benefits.

Also referred to as “Tier 5″, this expansion of benefits has been discussed over the last several months, but has yet to gain the necessary support in Congress. The most recent efforts made by Representative Barbara Lee and her co-sponsors have attempted to incorporate this legislation into the President’s jobs bill.

 

We will continue to keep you updated on both pieces of legislation, as well as The American Jobs Act.

Extension Update 122210

Extension Update – December 22nd, 2010

Bill Passed

  • On December 17th, President Obama signed into law legislation that extends eligibility for unemployment benefits until the end of 2011.
  • This means that you will now be eligibile for up to 99 weeks again, depending on your state and assuming your final tier begins before the end of next year.

Bill Details

  • The new legislation extends eligiblity for federally funded Emergency Unemployment Compensation (EUC) through the end of 2011.
  • Reminder: Keep Your Money

    Join over 400,000 other Americans who are saving up to 65% off retail.

    During the month of December, Direct Buy is giving away free visitor’s passes. (passes are valid into 2011, so you don’t have to use it now)

    Note: There’s no obligation to buy, so no risk to you.

  • Benefits will be retroactive to December 1st, meaning that you should receive a catch-up payment for these missed weeks.
  • It might take up to a month before states start sending checks again.
  • In addition, the recent bill provides additional support for state-funded Extended Benefits (EB) programs. You receive Extended Benefits (depending on your state) after EUC expires.

Tier 5 Update

  • This past weekend, Representatives Barbara Lee (CA) and Bobby Scott (VA) introduced a new bill to the House of Representatives that would add an additional 14 weeks of benefits.
  • Unlike prevoius “Tier 5″ proposals, this bill would add weeks to the initial tier of EUC. In addition, it would be available retroactively to those who have already had their benefits expire.

Other Tier 5 Proposals

  • There are still two other Tier 5 proposals in Congress. These proposed bills would add up to 20 additional weeks of benefits, depending on the unemployment rate in your state.
  • Congress has not yet addressed the various Tier 5 proposals, but this topic will hopefully receive attention as we move into 2011.

 

Reminder: Don’t miss the opportunity to get great insider discounts. Take two minutes and sign up for a free visitor’s pass from Direct Buy. :)

Tier 5: Extension Update - August 23rd, 2010

As unemployment benefits expire, many people are aksing about a “Tier 5″ extension.

Background

If implemented, a Tier 5 would add additional weeks of unemployment benefits. To date, the previous extensions passed by Congress this year have only extended eligibility for existing tiers, enabling you to receive up to a maximum of 99 weeks in most states. The 2010 extensions have not added any additional weeks to the total available.

Free Financial Help

Take advantage of an opportunity to cut your debt. Imagine — No more debt!

If you are unemployed, you may be eligible to lower your bills. Find out how.

Many people have already exhausted their 99 weeks (or their state maximium), but are in need of further assistance.

Tier 5 Extension – New Proposal Introduced

Michigan Senator Debbie Stabenow introduced new legislation during the first week of August that formally brings the Tier 5 discussion in front of Congress. Here are the highlights of the propsal:

  • The bill would add an additional 20 weeks of benefits for people who have had their benefits expire.
  • The proposal would require that the unemployment rate in your state must at least 7.5% in order to qualify.
  • Also included in the proposal are tax breaks for business owners who hire
  • The new legislation has not yet been voted upon.

What’s Next?

  • Members of Congress are on recess through September 12th.
  • The Senate will next address the proposal upon their return in September.