Providing For Consideration Of S. 23, Extension Of Temporary Extended Unemployment Compensation Act Of 2002
Mr. Speaker, I thank my distinguished friend and colleague for yielding time to me. I rise in support of S. 23, which will provide a 5-month extension of the Federal emergency unemployment insurance benefits. I do so both as a member of…
Mr. Speaker, I thank my distinguished friend and colleague for yielding time to me.
I rise in support of S. 23, which will provide a 5-month extension of the Federal emergency unemployment insurance benefits. I do so both as a member of the Committee on the Budget with an interest in the enforcement of the budget resolution deemed in effect for fiscal year 2003, and as a member of the Committee on Ways and Means, under whose jurisdiction this legislation has been prepared.
This measure is not inexpensive. The bill carries a $7.25 billion price tag for fiscal year 2003, and moreover, that price tag fails to take into account an additional $650 billion in costs that the Congressional Budget Office will recognize for this bill when it adjusts its budget projections at the end of this month.
However, for those among the Nation's unemployed, they will find this to be a lifeline. They will find a lifeline in this legislation that will help them pay their bills, help them pay their family's bills, while they continue to look for work.
As the incoming chairman of the committee charged with enforcing the budget resolution, I must, however, point out that S. 23 will exceed the budget resolution which the House adopted for fiscal year 2003 in March of last year. It would specifically exceed the allocation for the Committee on Ways and Means by $5.69 billion in budget authority for 2003, and by $1.9 billion in budget authority during the period 2003- 2007.
I, however, like the President and most in Congress, recognize the seriousness of the Nation's continuing challenge regarding the unemployment rate. We must take into consideration and we must take that action now to ensure economic security for families of those who have been unemployed as a result of the continuing economic trauma our Nation has suffered since the September 11 terrorist attacks.
It is with understandable reluctance that I would ever support bringing a bill to the floor that exceeds the budget resolution, but I believe that it may be warranted during periods of economic instability and insecurity. This is one of them.
As of December 28, 2002, more than 800,000 American workers have had their eligibility for unemployment insurance benefits terminated. Although they have not yet found new jobs, S. 23 will prevent these workers and others who exhaust the benefits prior to May of this year from having their benefits terminated.
In summary, I support this bill despite its cost because of my concern for Iowa workers and American workers who may have a hard time finding jobs during this period of instability and challenging unemployment rate. More important, I commit to drafting a budget again this year which will support and help strengthen the economic recovery and encourage long-term economic growth.
Mr. Speaker, I urge support of S. 23, and I urge support of this rule.