Democrats: Economy will lose more than $3 billion due to loss of jobless aid
02/18/2014 11:21 AM
02/18/2014 11:38 AM
Democrats Tuesday estimated that the U.S. economy will lose more than $3 billion in January and February because emergency jobless benefits have not been extended.
Democrats on the House Ways and Means Committee issued the report, finding that about 72,000 people are losing unemployment insurance, on average, each week. About 1.8 million have already lost benefits.
Republicans counter that any extension needs to be paid for, and some argue that with the economy recovering, the need for extra aid is not as great as it once was.
Congress does not return until next week, when a renewed push is expected on a plan to extend the benefits. The emergency aid expired December 28.
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