New Jobs Bill to Extend Unemployment Benefits for Workers

New Jobs Bill to Extend Unemployment Benefits for Workers

The economy seems to go from worse to worst as time goes by; and more workers find themselves in debt due to business bankruptcy and extended unemployment. The federal government has been giving financial aid to their families but the length of time to receive unemployment benefits seems to be not enough. The Jobs Bill was made in response to the growing number of workers needing an extended unemployment benefits. Should the bill pass the congress, over 1 million unemployed American workers will continue receiving benefits in a form of tax breaks and mortgage subsidies. The proposed bill will also stimulate the U.S. economic growth through various methods such as:

Creating more jobs by supporting micro businesses in order to help preserve employment thus, decreasing the number of unemployed. Authors of the said bill aim to stir the local governments of the state to invest in infrastructure luring more businesses in their respective areas.

Providing tax breaks to companies with active participation in research and development.

Providing financial assistance to unemployed workers especially with regards to health care costs and mortgages. Aid shall be given to the unemployed until he or she has found a stable position. The Jobs Bill does not give the monetary assistance to the families directly; the physician will be reimbursed for whatever service he offered to the unemployed and his family. Without this type of support, the physician reimbursement will be cut by over twenty percent.

The mentioned bill shall give over 50 provisions that focus on keeping the unemployed and their families afloat while looking for another job. In sustaining a millions of families, the government shall need billions of dollars to reach out to everyone in need. In health care costs subsidies alone, the government has to spend over 65 billion U.S. dollars for reimbursement. Over 50 billion dollars will be spent on other government help such as: unemployment insurance, disaster relief for farmers, summer jobs, build America bonds, payments to minority farmers, low income housing, small business loans, welfare payments, and other unemployment benefits.

The Jobs Bill primarily focuses on maintaining the health condition of the unemployed by providing subsidies for medical bills. In addition, the provision of bonds is geared towards the revitalization of the U.S economy and helping individuals such as business owners, farmers, and their families maintain sustainable living even while unemployed. But how can the government come up with such a large amount of money for these kinds of unemployment benefits? The federal government shall have to remove various tax loopholes and collect new business taxes in order to finance this new bill.

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