Maloney Statement on H.R.5618, Restoration of Emergency Unemployment Compensation Act

Jul 1, 2010
Press Release
Madam Speaker,
I rise in strong support of H.R.5618, the Restoration of Emergency Unemployment Compensation Act. At a time of unprecedented unemployment, when 1 in 10 Americans have lost their jobs through no fault of their own, it is unconscionable that Republicans have blocked for months the extension of critical unemployment benefits that help individuals and their families make ends meet while they continue to search for work.
Nearly two million families across the country have lost their financial safety net because Congressional Republicans are determined to put party politics ahead of the American people’s well-being. In fact, 143,000 individuals in my state of New York will lose their benefits by the July 4th weekend if Congress fails to act.

The bill before us today restores their economic lifelines by extending the Emergency Unemployment Compensation and Extended Benefits programs through the end of this November. It will also retroactively restore benefits to people who have already started losing their benefits in May.

In addition to stemming the tide of individual’s economic needs, most economists tell us that extended unemployment benefits is one of the most cost-effective and fast-acting economic stimulus programs. Unemployment benefits are generally spent immediately by recipients who need to pay bills and purchase necessities, which has a ripple effect throughout the economy.

I strongly support H.R.5618, and I urge my colleagues on both sides of the aisle to put politics aside to pass this legislation to both aid American families in need and bolster our fragile economy. Thank you.