Good News for 99ers: Sen. Stabenow Introduces Tier 5 Unemployment Extension 2010

[Joanne98]

Keeping a promise she made earlier on introducing a Tier 5 unemployment extension bill, Senator Debbie Stabenow (D-MI) today introduced the Americans Want to Work Act.

The legislation does not only aim to help 99ers – those who have expended the maximum 99 weeks of federal unemployment assistance. The bill also seeks to cut taxes for businesses that hire new workers who have been looking for work the longest time.
The Tier 5 unemployment extension 2010 bill is cosponsored by Senators Charles Schumer (D-NY), Harry Reid (D-NV), Dick Durbin (D-IL), Carl Levin (D-MI), Bob Casey (D-PA), Chris Dodd (D-CT), Sherrod Brown (D-OH), Jack Reed (D-RI), and Sheldon Whitehouse (D-RI), according to a message posted on her website.

The 99ers are set to be provided with 20 additional weeks of unemployment insurance for individuals in states with an unemployment rate of 7.5% or higher if this Tier 5 bill is enacted into law.

The Tier 5 unemployment extension bill also benefits 99ers through incentives accorded to businesses who hire them. The Americans Want to Work Act extends through 2011 the successful HIRE Act tax credit, signed into law earlier this year, to encourage businesses to hire workers. HIRE Act allows businesses to cut payroll taxes for hiring workers who have been out of work for longer than 60 days and provides them a $1,000 general business tax credit for each worker employed for at least a year. Senator Stabenow’s Tier 5 bill also doubles the tax credit to $2,000 if businesses hire 99ers (workers who have totally exhausted their unemployment benefits).

http://all247news.com/good-news-for-99ers-sen-stabenow-introduces-tier-5-unemployment-extension-2010/3131/