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December 2, 2010
ROCKEFELLER PUSHES FOR UNEMPLOYMENT INSURANCE
Calls for Action on UI and Middle-Class Tax Cuts this Congress
Washington, D.C.—Senator Jay Rockefeller issued the following statement on the need to extend both unemployment insurance (UI) and middle-class tax cuts.
“I’ve said it before – our highest priorities must be to create jobs, rebuild our economy, and extend a helping hand to those who are without work through no fault of their own. Until our economy recovers, low and middle-income families will continue to need help. Instead of playing games at the expense of people in need, Congress must act quickly to provide that help – through an extension of both unemployment insurance and the middle class tax cuts.
“I’ve said it before – our highest priorities must be to create jobs, rebuild our economy, and extend a helping hand to those who are without work through no fault of their own. Until our economy recovers, low and middle-income families will continue to need help. Instead of playing games at the expense of people in need, Congress must act quickly to provide that help – through an extension of both unemployment insurance and the middle class tax cuts.
“Even as our economy very slowly begins to show signs of recovery, we cannot turn a blind eye to the fact that millions of Americans are still hurting. Thousands of West Virginians are looking for work and are worried sick this holiday season about how they will continue to put food on the table and heat their homes for the winter. Now is not the time to cut the vital support that families in West Virginia and across the country need. We can and should act to immediately extend unemployment assistance for these families. It is unacceptable that some are blocking action when people are struggling.
“Congress also must act to ensure that hard-working middle-class Americans get the tax relief they need now to recover from the most severe recession this country has faced since the Great Depression. In recent years, we’ve made improvements to both the Child Tax Credit and the Earned Income Credit, and we need to extend these improved tax cuts so more workers can make ends meet during these tough economic times.”
On NPR yesterday morning, Senator Rockefeller reiterated this need: “I feel terrible about it, particularly in West Virginia where everybody's fighting to survive all the time. And we have to do it.”
On NPR yesterday morning, Senator Rockefeller reiterated this need: “I feel terrible about it, particularly in West Virginia where everybody's fighting to survive all the time. And we have to do it.”
Background on UI in West Virginia
If federal UI benefits are not extended, those currently receiving benefits will lose them beginning December 4 – it is estimated that by January 1, approximately 10,119 West Virginians will have lost their UI benefits. This remains essential because for every new job created, it is estimated that there are four or five people who are still seeking employment. These benefits also help stimulate local economies – for every $1 of UI benefits, $1.61 is generated in economic activities, according to economists.
Background on Middle Class Tax Cuts
The Bush Tax Cuts were enacted in 2001 and 2003, and are set to expire at the end of 2010. Everybody benefits even if “only’ the middle-class tax cuts are continued – middle-class tax cuts include lower taxes for the first $250,000 of even a millionaire’s income. The argument for “upper-income” tax cuts is to give the wealthy an even greater benefit. Only 7,074 West Virginia tax filers would benefit from extending the high-income tax cut, which would cost the federal government $41 billion in its first year.
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