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Coburn Shoots Down Jobless Benefits Extension

To thousands of unemployed folks, two very different events are conspiring to pose an imminent threat to their federal benefits: (1) The deadline to file for

Jul 31, 2020
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To thousands of unemployed folks, two very different events are conspiring to pose an imminent threat to their federal benefits: (1) The deadline to file for jobless benefits arrives April 5, and (2) Congress leaves this weekend for a two-week vacation, and won’t be back to Washington until April 12.
Recognizing the timing issue, Democrats are trying this afternoon to pass a bill — approved by the House earlier in the month — which would extend the unemployment insurance filing deadline (not to be confused with creating a Tier V) through April. The proposal would also extend COBRA health benefits, and delay a 21 percent cut poised to hit Medicare doctors on April 1 — a problem not addressedby the larger health reform bills passed this week.
“We should not let these programs expire,” Sen. Max Baucus (D-Mont.) just said on the chamber floor, moments before he asked for unanimous consent to pass the bill.
It didn’t happen.
Sen. Tom Coburn (R-Okla.) objected, arguing that the bill isn’t offset with cuts elsewhere. It wasn’t unexpected. The Republicans this afternoon have been pushing an accompanying measure that would offset the costs.
“I don’t care how we pay for it,” Coburn said, “as long as we don’t add to our kids’ debt.”
Democrats have fought the pay-for proposal, arguing that the deficit spending is justified to address emergencies in a down economy. Stay tuned…
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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