Senators agrees to deal to restore long-term jobless benefits


A bipartisan group of 10 Senators has agreed on a proposal to renew long-term jobless benefits for five months. The payments would be paid retroactively from December, when the previous extension expired, and last until late May.

The payments would be made to those who have been out of work for six months or more - except to those who earned $1M+ in the previous year.

The Senators expect their chamber to pass the measure, which would cost $10B but apparently be covered by a complicated set of offsets. Whether the House will approve the proposal is a different story.

Comments (1)
  • Camellia Capital Management
    , contributor
    Comments (220) | Send Message
     
    "The payments would be made to those who have been out of work for six months or more - except to those who earned $1M+ in the previous year"

     

    Am I reading this correctly?

     

    People who earned $1M in the previous year were on jobless benefits?
    14 Mar 2014, 08:03 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs