By now you have heard of H.R. 4853 Tax Relief,Unemployment Insurance Reauthorization Act,and Job Creation Act, being passed into law. What this piece of legislation contains is still mystery to some. For one this bill does not help the group referred to as 99ers, meaning it doesn’t assist anyone that has exhausted all their benefits.
The bill does provide a 13-month extension but all that translates into is the federal funds are extended. Currently in the state of Michigan the first 26 weeks of unemployment are paid by the state, anything after that 50 percent is paid by the state and the other 50 percent is paid by the U.S. Government. The 13-month benefits will offer comfort for those currently on unemployment, but what about those that have used all their benefits up what about them?
As of December 23, 2010 there is no news coming out of Washington about a Tier V, in fact the current 111 congress has adjourned for the holidays. I don’t understand how the can sit there pat themselves on the back on a job well done? When they constantly ignore the calls, e-mails, and fax campaigns asking them to pass Tier V?
Why is it okay to give the financial institution $750 billion for their mistake, but we can’t help the middle class citizen of this country? Seven hundred fifty billion dollars would have made a lot of tiers of unemployment insurance. Let’s hope the next 112 congress is lot better than this one.