The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
Washington, DC (April 7, 2014)- Rep. Peter DeFazio (OR-4) today praised the U.S. Senate for approving a bill to extend unemployment benefits to more than 2.3 million Americans, including 31,000 Oregonians, and strongly urged his colleagues in the House to do the same. If the House fails to approve the bill by the end of the year, it's estimated the number of Oregonians who lose benefits will more than double to 76,000.
President Obama has stated his support of the extension. Unfortunately, the bill will stall in the House unless Speaker John Boehner changes course and allows a vote. Speaker Boehner has repeatedly stated he will not bring the bill to the floor.
Rep. DeFazio issued this statement:
"While I'm encouraged by today's progress in the Senate, I find it outrageous that we are still fighting this battle in the House three months after more than 2 million hardworking Americans lost an essential benefit to help keep food on their table and a roof over their head. Some of my Republican colleagues will tell you that we cannot afford to pay unemployment benefits to struggling Americans, yet they do not blink at approving billions of dollars in corporate subsidies. It's high time Congress got its priorities straight."
The Emergency Unemployment Compensation Extension Act of 2014 is bipartisan legislation that would restore emergency unemployment insurance benefits through the end May for Americans who are actively looking for work. The bill not only helps Americans who are struggling to pay their bills, but economists also say the benefits boost the economy.
* Each week, 72,000 Americans lose unemployment benefits, averaging one person every 8 seconds
Oregon Statistics (as of March 8, 2014):
* 31,221 Oregonians have lost unemployment insurance since Dec. 28, 2013
* 16,683 children have been affected by expiring benefits
* The economy in Oregon lost $54,231,118 in January and February
* If EUC is not renewed: 76,100 Oregonians will be affected by the end of the year
* If EUC is renewed: 3,829 jobs will be saved through the end of 2014
Read this original document at: http://defazio.house.gov/media-center/press-releases/defazio-praises-senate-for-passage-of-unemployment-benefits-extension