|Image via Wikipedia|
|Introduced on August 4th, Senator|
Debbie Stabenow (D-MI) S. 3706
measure is the only jobless
legislation that address long-term
unemployment and job creation
An Reach Out Job Search News Blog OP/ED
Much talk have been occurring with unemployed advocacy groups on ways for Senator Debbie Stabenow (D-MI) S. 3706-'The Americans Want to Work Act' measure, to be included with any compromise with the Republican party on tax cuts.
To date, it is unsure if the bill is being discussed at all in the private negotiations, on how best to address long-term unemployment in our nation. But, if the measure is not ‘on the table’ in the room, it should be.
Senator Stabenow’s bill which was introduced on August 4th, is the only unemployment legislation that directly addresses Job Creation, for the longest-term jobless.
Within the bill, all employers which hire the ‘99ers’ (job seekers who have exhausted between 73-99 weeks of benefits), would be entitled to receive $2000 tax credit. Also, the '99ers' would receive 20 weeks of jobless payments.
This is a highly unreported part of S.3706 that is not being currently detailed by any media resources.
Specifically, President Obama is currently in the process of creating a ‘compromise deal’ that would add up to $800 Billion dollars to the $13.7 Trillion dollar deficit, to give tax payers, including those who make over $250,000 dollars a deal, tax cuts.
The Republican Party has made claims one reason why the tax cuts for the very wealthy should be extended is because ‘they are the job creators’. If this is true, it is high time for this group to prove it.
On December 4th, the Bureau of Labor Statistics reported that the unemployment rate climbed 0.2 percent to a shocking 9.8 percent rate. There is an estimated, according to BLS 15 Million Americans seeking work. To that sobering figure, there are another estimated 6 Million ‘99ers’ who ran out of any form of unemployment extension payments in April 2010.
Federal Reserve Chairman Ben S. Bernanke stated on November 30th, in a meeting with Ohio business executives reported by Bloomberg, that economy is not growing fast enough to “materially” reduce unemployment and, expressed concern about workers who have been without a job for a long time.
“This is very unusual and very worrisome because people who are out of work for an extended period, their skills tend to erode,” Bernanke said at a meeting with business leaders in Columbus, Ohio to Bloomberg News. The share of unemployed who are jobless for more than six months is greater than 40 percent, Bernanke noted.
With this information, the Federal Reserve Chairman, confirmed what up to 6 Million jobless ‘99ers’ known for their efforts to return in the work force. The Stabenow Bill S.3706-“The Americans Want to Work Act” should be included in any ‘run the table’ compromise with the Republican Party and Minority Leader Mitch McConnell (R-KY).
Time will tell, if this sensible legislation will be included in the deal.
What are your thoughts on this article? Should S. 3706 be included in any 'compromise deal' with the GOP on tax cuts for the wealthiest Americans? Feel free to comment on this story, below!