7/22/2010- Sires Votes To Extend Unemployment Benefits

For Immediate Release                                                           Contact: Erica Daughtrey

July 22, 2010                                                                          201-222-2828

Washington, D.C.-- Today, Congressman Sires joined his colleagues in the House of Representatives in passing H.R. 4213, the Unemployment Compensation Extension Act of 2010 by a vote of 272 - 152.  This bill will now go directly to the President to be signed into law to provide unemployment benefits

“I have repeatedly supported unemployment extensions that have come to a vote in the House of Representatives because I recognize that these benefits are a lifeline to families struggling through these tough economic times,” said Congressman Sires. “Extending unemployment benefits are a proven way to stimulate the economy and get people back to work.”

This bill will extend unemployment benefits through November 30, 2010.  Additionally, this bill will retroactively restore benefits to those who have used up their standard 26 weeks of unemployment, some of whom have started losing benefits as early as the end of May.  According to the non-partisan Congressional Budget Office, extending unemployment extensions creates up to $1.90 in economic activity for every dollar in unemployment benefits.  Chief economist Mark Zandi of Moodys.com estimates that every dollar in unemployment benefits creates at least $1.61 in economic activity.

“Giving New Jerseyans the resources necessary to find employment is my greatest priority,” said Sires. “I am proud that benefits will now be available to those who are most in need and I will continue to focus my efforts on legislation that creates jobs.”

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