Unemployment Insurance To Be Extended, $30 Billion Cost Won’t Be Offset

WASHINGTON — One of the remaining sticking points holding up a fiscal cliff deal appears to have been resolved, as negotiators have decided to extend unemployment benefits without offsetting the cost.A source familiar with negotiations told The Huffington Post that lawmakers would treat the provision as “an emergency measure that shouldn’t be paid for.” A Senate Democratic and Republican source each confirmed the plan.What that means is that the $30 billion pricetag for a year-long extension will simply be added to the deficit. Republicans have in the past objected to reauthorizing federal unemployment compensation because of its impact on the deficit, though in recessions since World War II Congress has generally added extra weeks of benefits without paying for them.Read More…
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Unemployment Insurance To Be Extended, $30 Billion Cost Won’t Be Offset


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