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Senators Reach Deal to Extend Unemployment Benefits

on March 18, 2014

Just Plain Money

Unemployment Benefits “Unemployment Benefit Extension”

U.S. senators reached an agreement that would restore benefits for the long-term unemployed that expired late last year and that the Obama administration has sought to revive. The deal, struck yesterday by Rhode Island Democrat Jack Reed, Nevada Republican Dean Heller and eight other senators, would reauthorize emergency unemployment benefits for five months, according to a statement from Reed’s office. The cost of the benefits would be covered by extending so-called pension smoothing, which was set to phase out this year. That maneuver would give companies more time to make payments to pension funds, meaning their short-term taxable income would rise because they could claim……Read full article here!

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