House Ways & Means Summary of HR 1745 Hearing

by Guest Mon May 16, 2011 11:35 am

"Let's be clear about the goal of this initiative - getting people back to work. The current economic downturn has resulted in over 30 States being forced to borrow over $40 billion to pay promised unemployment benefits, which is leading directly to higher payroll taxes on jobs as States struggle to pay these loans back. The JOBS Act provides States new flexibility to decide how to spend their share of temporary unemployment funds - whether for preventing job-destroying tax hikes on employers, continuing the current extended benefits program in a State, paying down the interest or principal on Federal loans, or helping people get new reemployment services. It also makes permanent reforms to work and education standards so more unemployed individuals get back on the job quickly and at higher pay. Similar reforms were successfully implemented in the 1990s with welfare reform."

One Page Summary:
http://waysandmeans.house.gov/UploadedFiles/JOBS_Act_2011_Highlights.pdf

States Share of $31 Billion:
http://waysandmeans.house.gov/UploadedFiles/JOBS_Act_2011_State_Shares.pdf

States with Federal Unemployment Loans:
http://waysandmeans.house.gov/UploadedFiles/Loan_States_Sheet1.pdf

Letters of Support:

NFIB Letter:
http://waysandmeans.house.gov/UploadedFiles/NFIB_5-9-2011_JOBS_Act_letter.pdf
Employer Groups:
http://waysandmeans.house.gov/UploadedFiles/UI_Business_Coaltion_Final_Draft_Letter_May_2011.pdf

Legislative Text of JOBS Act:
http://waysandmeans.house.gov/UploadedFiles/HR_1745_AINS_051011.pdf

http://waysandmeans.house.gov/News/DocumentSingle.aspx?DocumentID=240802

by carl98430 Mon May 16, 2011 11:59 am

Thanks for sharing this info. Maybe our best hope is for some kind of combination of HR 589, HR 1745 and the Durbin measure in the Senate. Hopefully something can be done next week when the House returns from recess.

by Guest Mon May 16, 2011 12:02 pm

carl98430 wrote:Thanks for sharing this info. Maybe our best hope is for some kind of combination of HR 589, HR 1745 and the Durbin measure in the Senate. Hopefully something can be done next week when the House returns from recess.

That is what I am hoping for too! It makes the most sense. Unfortunately, from watching how Congress works over the past year and a half we know they have no common sense.

I'm just keeping my fingers crossed that it works out this time!

by carl98430 Mon May 16, 2011 12:07 pm

Absolutely, and I can only imagine how trying the times have been for most people on this forum. The NY Times editorial will hopefully also spur some movement on legislation. I just wish that some in Congress would realize that we're not lazy people who are taking advantage of the system. Like the people here, I am a hard worker. The economic downturn resulted in budgets being cut and my job, as well (along with that of several colleagues). It's hard.....it's very hard, and I really hoping for Congressional movement on this next week.